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Date: April 30, 2024 Tue
Time: 12:23 am
Time: 12:23 am
Results for credit card fraut
1 results foundAuthor: Australia. Attorney-General's Department Title: Identity crime and misuse in Australia: Key findings from the National Identity Crime and Misuse Measurement Framework Pilot Summary: Efforts to combat identity crime require a reliable evidence base that quantifies the complete nature and extent of the problem. In Australia and also internationally, there are limited sources of comprehensive, reliable data about identity crime and its consequences. To address this gap in knowledge, the Council of Australian Governments (COAG) agreed in 2012 that work should be undertaken to develop a national measurement framework for identity crime to better inform efforts to implement the National Identity Security Strategy (NISS). This report presents the key findings from a pilot data collection exercise that was undertaken as part of the project established to develop this measurement framework. Key finding: Each year around 4 to 5% of Australians (around 750,000 to 937,000 people) experience identity crime resulting in a financial loss. However, the true extent of identity crime is likely to be unknown, as a considerable proportion of incidents go unreported. The Australian Institute of Criminology conducted a 5,000-person online community survey (the AIC Survey) in 2013 as part of this pilot. They found that 9.4 percent of respondents reported having their personal information stolen or misused in the previous 12 months, with five percent reporting that they suffered financial losses as a result (Smith & Hutchings 2014). Identity crime is likely under-reported by both individual victims and organisations. For example, recent research has shown that only 50 percent of credit card fraud victims and 66 percent of identity theft victims reported the incident to a formal institution, such as law enforcement or a financial institution (ABS 2012). Key finding: Compared with other personal and theft-related crimes (i.e. assault, robbery, break-ins and motor vehicle theft), identity crime is one of the most prevalent crime types affecting Australians each year. Key finding: The price of fraudulent identity credentials suggests they are relatively cheap and easy to obtain. This is reflected in the variety of ways that these credentials are used to commit identity fraud. Information on data breaches (many of which go unreported) also suggests that the personal information needed to create fraudulent identity documents is also available to those willing to seek it out. Key finding: State and territory police detect up to an estimated 30,000 identity crimes each year, with around 24,000 offences proven guilty in a court of law. As identity crimes are often recorded under other related offences such as fraud, the actual number of identity crimes is likely much higher. Key finding: The majority of identity victims lose relatively small amounts of money (up to $1,000), although in some cases losses can run to hundreds of thousands of dollars. A significant proportion of victims also experience demands on their time or other adverse impacts to their mental or physical health, reputations or general wellbeing. Key finding: Only a small proportion of victims of identity crime report the incident to relevant organisations. Court-issued victims' certificates appear significantly underutilised as a mechanism to assist victims in recovering from the consequences of identity crime. Key finding: There are an increasing number of identity credentials that can be verified through the Document Verification Service (DVS), as well as a growing demand for the service amongst government and private sector organisations. Key finding: The estimated economic impact of identity crime in Australia is likely to exceed $1.6 billion per year. In light of the limited data available and the underreporting of identity crime, by both individuals and organisations, this is likely to be a conservative estimate. Key finding: Aside from underreporting, the single biggest limitation on efforts to measure identity crime is the lack of standardisation between organisations over definitions and how incidents are recorded. Details: Barton, ACT: Attorney-General's Department, 2014. 92p. Source: Internet Resource: Accessed May 16, 2015 at: http://www.ag.gov.au/RightsAndProtections/IdentitySecurity/Documents/IdentityCrimeAndMisuseInAustralia.pdf Year: 2014 Country: Australia URL: http://www.ag.gov.au/RightsAndProtections/IdentitySecurity/Documents/IdentityCrimeAndMisuseInAustralia.pdf Shelf Number: 135442 Keywords: Computer CrimesCredit Card Fraut Crime Statistics Crimes Against Businesses Cybercrime Financial crimesIdentity Theft |