Essay About Comprehensive Identity Management And Identity Theft

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Comprehensive identity management
Balancing cost, risk and convenience
in identity management
Executive summary 3
Variables shaping identity management 4
Business costs to the organisation 4
Compliance 4
Technologies and approaches 4
Society at risk 6
Becoming sophisticated about risk 7
Balancing costs and risk 7
The importance of convenience 7
Users in the risk equation 8
Diversity and usability 8
Convenience, privacy and security 8
More advanced technology and solutions 9
Sharing responsibility 11
Moving towards an identity-centric society 11
About the authors 12
BT as your security partner 12
References 13
Contents
Executive summary
The need for more careful identity management is an inevitable
outcome of a variety of changes that are compounding together into
a perfect storm of change. These changes are making today’s world
increasingly dependant on digital identities to enable transactions,
allow access to services, information sources, communication
networks, applications, and even to enter buildings. As a result,
the volume of data and personal information that is stored and
harvested is growing rapidly, with personal information required
for every aspect of our lives from home, work, healthcare and
government. In addition to the significant user advantages and
cost efficiencies from effective identity management (IdM), the
increasing use of digital media and the web can also make personal
information more easily accessible, placing our privacy and security
as well as the resultant inappropriate exploitation of our identity at
serious risk.
Compromising an identity is the modern equivalent of holding the
“key’s to the kingdom.” Our identities underpin numerous critical
transactions and life events; once an identity is captured it can
quickly unravel into many unintended and damaging consequences,
reflecting its many uses.
Identity theft can happen to anyone. Statistics from the Home Office
in the UK indicate that identity theft affects at least one in four
adults, and the UK’s Credit Industry Fraud Avoidance Scheme (CIFAS)
reported a 17% increase in identity fraud in the past year. In the US,
The Identity Theft Resource Center reports that 19 people become
a victim of this crime every minute, with 10 million people affected
each year.
Business is becoming more successful at detecting fraud early
and stopping criminals in their tracks, according to recent figures
released by CIFAS, but identity fraud and theft are still a major
threat. Despite efforts to fight this crime, business, governments
and individuals are still not adequately geared to cope with the
consequences of identity theft, according to research conducted by
BT and HP Labs with the University of Plymouth, and published as
the Trustguide.
Research in the US, by the Ponemon Institute, shows that a lack of
accountability and resources are at the root of the corporate data
loss problem. Therefore, organisations need to guarantee effective
risk management and provide maximum protection to mitigate
the threats. Certain sectors are also under market and regulatory
pressure to provide tactical solutions, such as the deployment
of strong authentication, but this is expensive and needs to be
set within complex longer-term social, business and economic
dimensions, such as public trust, and technologies that are accessible
to all. Balancing risk and cost is therefore compounded by the need
to provide a diverse base of users with solutions appropriate for their
intended purpose, but still providing easy and convenient access to
services. Achieving the perfect balance is further challenged by the
need for organisations to maintain pace with the rapidly advancing
technology landscape and increasingly sophisticated identity threats
within a framework of legislative constraints.
Business costs to the organisation
The cost of inadequate identity management
Over the last three years, identity theft and crime cost the UK
economy at least ÐЈ1.7 billion, according to the Home Office. This
amount