"ID Theft: More Hype than Harm"

Paper Summary:

This paper explains that in the 7/3/2006 issue of Business Week, Dean Foust, the author of "ID Theft: More Hype than Harm", argues that identity theft is really more hype than harm. The paper relates that Faust discusses the public's hysteria which pertains to identity theft and claims that the public overreacts with the issue of identity theft since it really is not as bad as it seems to be for the victim. The paper reflects on Foust's assumptions and claims regarding the seriousness of the identity theft problem in the United States today.

From the Paper:

"According to Foust, it is not easy to convert stolen data into money. Because of the media attention that identity theft is receiving today, many consumers are on alert for such activity and from the first indication that someone else is using their information, the consumer will call banks, credit card companies, license bureaus and other places and either cancel their accounts, report the possible theft, and information the agency that they suspect unauthorized use. However, there are many consumers who are not aware of what is happening until it is too late."

Sample of Sources Used:

• Foust, Dean. (7/3/2006). ID Theft: More Hype than Harm. Business Week Magazine.

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