Reference no: EM131311817

The Information Age in Which You Live
Changing the Face of Business

OPENING CASE STUDY:
IS YOUR SOCIAL SECURITY NUMBER WORTH $98?

The answer for many people is yes. But they're not referring to the worth of their own social security numbers; they're referring to how much they are willing to pay for your Social Security number. And they're willing to pay for other data such as:

• $490-credit number and PIN.
• $78-$294-billing data including account number, address, birth date, etc.
• $147-driver's license number.
• $147-birth certificate.
• $6-$24-credit card number with security code and expiration date.
• $6-PayPal logon and password.

On the Internet, you can find sites such as CardingWorld.cc, Dumps International, and TalkCash.net that sell such information and much more including malware, software that can be used to infiltrate the identity management sys- tems of organizations and steal personal informa- tion. These sites typically stay in existence only for about six months or so before having to change their names to elude law enforcement officials.

From a personal point of view, identity theft should be high on your priority list. From an orga- nizational point of view, identity management and the protection of identity information are usually at the top of the priority list. Unfortu- nately, hackers have found ways to steal identity information; they may spoof or phish you into giving away your personal information and they may unleash malware (the generalized term for malicious software such as viruses, worms, and Trojan horses) on organizational identity man- agement systems to steal millions of identities. In late 2006, TJX Holdings-the parent company for retail outlets including T. J. Maxx, Marshalls, and HomeGoods-reported the infiltration of its identity management systems, which may even- tually affect over 40 million customers.

By some accounts, the black market for iden- tity information is now a billion-dollar-a-year industry. Transactions occur daily with the buying and selling of identities, credit card information, and even brokerage accounts. One man stole numerous online brokerage accounts and used them to employ the old "pump-and-dump" stock scam. With his legitimate personal account he bought many shares of a penny stock. He then used the accounts he'd stolen to buy more shares of the same stock, which raised the price signifi- cantly. He then sold the shares in his legitimate personal account for a tidy profit of $82,000. We can tell you this story because he got caught.

In today's digital world, computers can be used for all sorts of nefarious scams; they can also be used in many wonderful and legal ways-to increase profit, to reduce costs, to increase prod- uct and service quality, to reach suppliers and customers all over the world, and to benefit society in general. This book focuses on helping you learn to use technology for the sustained competitive advantage of your organization and for your personal productivity. Along the way, however, we will talk about the bad uses of tech- nology and inform you of steps you can take to avoid being a victim of cyber crimes.

Questions
1. Have you, a friend, or a family member been a victim of identity theft? If so, tell the story to your class.

2. How often do you buy your credit report? Did you know you get one for free annually?

3. Is technology good or bad?