The rising technological revolution has brought many changes to the everyday living of many people. As new technology is introduced into our society, our lives seem to get presumably easier and more efficient. While many different forms of technology exist, one of the greatest breakthroughs was the creation of the internet. With over half the world’s population having access to the internet, the internet has drastically changed the social and economic behaviors of the world. For many, the internet may seem like a blessing with applications such as Facebook for social media, Youtube for online entertainment, and Google for search engine. However, there are a multitude of severe risks that also reside on the internet. One of these risks is internet scamming and theft with the utilization of different methods.
The role of internet in today's developed society becomes increasingly more prevalent every day. As a result, users are storing a great amount of important private information on the internet. This private information includes photos, important work and personal documents, and even banking and credit card information. For some people, a great majority of their valuables and information will reside on the internet. With how much users trust the internet with their privacy and safety, it is crucial that the internet remains a safe and secure environment for users. However, there are many threats on the internet that people often dismiss. The most common threat is internet scams and theft. In 2018, Australia had one of the highest rates of internet scam activity. According to the Australian Competition and Consumer Commission, over 100,000 reports for internet scamming has been reported within the first nine months of 2018. Within those reports, $89 million was lost through those scams.
According to the graphic by ACCC above, the most dangerous scams are investment scams and romance related scams. Both make up nearly $55 million worth of the money lost this year to scams in Australia. Scammers take advantage of the important values of victims and use it to gain access to the victim’s information.
A common internet scam and theft method is hacking. With the growth of the internet, users are interconnected with one another more than ever. Through the internet alone, one can find almost any information about anyone. Even private information that users consider protected can be at risk of being hacked at any point. According to Revision Legal, 115 large-scale cyber-attacks took place in the month of January 2018 alone. While most hacking attempts target larger corporations, average users can easily be affected regardless. On January 8th, 2018, a group of hackers hacked into the record systems of Health South-East RHF in Norway. 2.9 million patients had their medical records compromised within minutes. This cyber-attack affected more than half of Norway's 5.2 million inhabitants. Even though this hacking was the result of poor security systems, many innocent citizens were impacted.
Another common scam and theft method is identity theft. Identity theft has been an issue of this generation for many years. As most of identity recognition relies on a simple pin code or password system, it is much simpler to disguise one as another person for ill intent. Many consumers think that a personal password is enough to keep them safe from any threats; however, a single sequence of letters is much easier to replicate than any biometric of the actual person. Often the target victims of identity theft are younger children who lack experience with handling sensitive information. According to Identity Force, over 1 million children in the U.S. were victims of identity theft in the year of 2017. This cost families $540 million out-of-pocket expenses. Even more threatening is that victims often take over 3 months to recognize their identity is being compromised. 16 percent of users reported they didn't find out until 3 years.
This graphic shows that nearly 3 million reports of identity fraud were reported every year in the U.S. since 2014. There is no question that identity theft is a severe issue. It remains an issue not because of the number of reports regarding it, but also because of the level of impact that it can cause.
What's important for users in the future is to understand these threats and learn to take a preventative approach to them. While not all internet investment or romance opportunities might come with ill intent, internet users must be cautious and smart about making decisions on this regard. Often, these scams can be avoided by a quick search on the credibility of these sites or offers. Furthermore, users should question the validity of these situations and look for obvious red flags.
For users of the internet, a few basic techniques can prevent identity theft. Identity Force recommends changing passwords for important accounts regularly. Also, be cautious when putting personal information on social media. Lastly, check banking and credit accounts regularly to spot fraudulent activity.
As a corporation, it is its responsibility to protect the private information of users that have entrusted them with the corporation. In the case of Health South-East RHF, corporate managers put little effort in doing so. As the internet develops over time, more hacking methods will be introduced. Therefore, it is the duty of corporations to update their systems regularly and take preventative measures. For consumers, they should be careful in entrusting too much information with these corporations.
