Amazon, eBay, Microsoft, VeriSign, Visa, and other companies have joined up with a new alliance aimed at fighting online identity theft. Their stated goals include expanding information campaigns, promoting technology and tips against ID theft, sharing nonpersonal information about growing online fraud, and working with authorities to prosecute criminal cases against cyberthieves.
Called the Coalition on Online Identity Theft (COIT), their formation was made public by the Information Technology Association of America September 2. The ITAA said it isn't a formal part of the new group but will act as its administrator.
The ITAA had all but called for such a coalition to form up over a year ago. "I am proud to announce that several leading organizations have agreed to work together to build such a group, to stop criminals from interfering with online commerce and services, and to ensure a safe and secure online environment," said ITAA president Harris N. Miller in a statement.
Other founding COIT members are said to include the Business Software Alliance, McAfee Security, Cyveillance, Inc., RSA Security, TechNet, WholeSecurity, and Zone Labs.
Miller said most online identity theft originates offline, like personal information and documents discarded by consumers who aren't aware that trash can be found and sifted by would-be cyberthieves looking for broader sources.
"While a small percentage of the problems come from online sources, recent email frauds have involved notifying a consumer about a fictitious account problem and asking the individual to supply a user-id and password, social security number, credit card information or other sensitive data," he continued.
Miller said the predominant identity theft scams include phony auctions, buying merchandise under assumed names, and loan applications. "Ultimately, the solution is a shared responsibility among industry, government and consumers to advance education and awareness, stronger penalties, cooperation within industry and law enforcement, and work together to prevent the spread of this problem into e-commerce," he said.
The Internet Fraud Complaint Center has reported 75,000 complaints posted to its Website during 2002, referring over 48,000 of those – involving dollar losses estimated at $54 million, more than triple the estimated losses from the IFCC's 2001 complaints – to federal law enforcement agencies.
