Institutional Identity Theft

Identity theft is a catch-all term for crimes involving illegal usage of another individual's identity. The most common form of identity theft is credit card fraud. Identity theft is often looked at as an individual's problem. One knows something that consumers have to worry about. However organizations often spend a lot of time, effort, and money trying to prevent their customers from experiencing it. The reason for this is because if customers of these organizations experience identity theft (sometimes due to negligence or lack of proper security controls, and other times at no fault of their own), the organization has to face several consequences.