Computer-Based Crimes Essay Example | Topics and Well Written Essays - 1750 words

Computer-Based Crimes - Essay Example The misuse of the computer may involve the falsification of computer signatures through unauthorized codes; the creation of false bank accounts; theft of personal information and misuse of the stolen information; the virus infection created on computers that can hamper the proper software operations and damage records. In the theft of personal information, victims may not even be aware of the crime perpetration until a very considerable damage on their assets, credit card, and societal status have already been inflicted. Criminals may use programs that would remove any evidence of the committed crime. Today, the biggest crime created through computer use is the electronic financial account transfer. Intellectual challenge is the most significant reason for creating computer crimes. Computer hackers commit such crimes for financial reasons and for personal motives, such as anger or revenge (Computer-Based Crime, 2011). Identity Theft To date, identity theft has the fastest growing cri me rate in America. Identity theft is the pilfering and illegal use of private information from an unsuspecting individual to access personal financial accounts. The targeted personal data include a victim’s address, birth date, telephone number, social security number (SSN), bank account number, credit card number, or other valuable identification records to be used for the thief’s economic gain. Criminals use this information in opening new credit and depository accounts, applying for home or car loans, leasing homes, apartments or vehicles (Brody, Mulig & Kimball, 2007) applying for benefits, or filing fake tax returns (Palmer, 2006). In worst cases, perpetrators use the obtained private information to take over the victim’s identity, create enormous debts, or use in a criminal activity under the victim’s name. In businesses, criminals pilfer their financial accounts, confidential access codes of their computer systems, or restricted records of workers . In phishing scams, thieves of company identities carefully pick businesses that may seem appealing to their prospective victims. Banks and prestigious businesses, and the most visited sites, such as the eBay and PayPal are the favorite targets of identity thieves (Brody, Mulig & Kimball, 2007). The electronic exposure of private information in a majority of business deals attracts the interest of identity thieves. Thieves gain access to private information given out by credit card holders when purchasing goods online; using cards in restaurants and gasoline stations; or when withdrawing cash in ATM outlets. In 2005, there were reported incidences of around 10 million identity theft cases, equivalent to 4.6 percent of the U.S. annual population (How Many Identity Theft Victims Are There? What is the Impact on Victims?, 2006). Reports taken from the Chief Securities Officer (CSO) Perspectives Conference confirmed 53 million identity theft cases to date and a further 19,000 cases eac h day. On the average, a victim loses $40,000 to $92,000 per incident (Friedenberg, 2006). The American consumer group loses roughly $5billion per year, while U.S. businesses and banking institutions lose around $47.6 billion per year (How Many Identity Theft Victims Are There? What is the Impact on Victims?, 2006). Since hacking started in the middle of the 1990s, attacks have dramatically increased. Computer hacking attacks are now more supported and financed by big-time syndicates. Moreover,