Blog Three

"Give an example of an online problem.  Are there any policies that can reduce the problem?"

One social problem which has arisen out of the popularity of the internet is the issue of identity theft.  As consumers turn to the internet to facilitate many financial transactions, the amount of data available and vulnerable to theft increases.  Individuals and companies with access to personal information such as social security numbers, bank account numbers, addresses, and other identifying information are able to manipulate the system in order to gain access to private information.

Addressing this problem and protecting consumer data has proven difficult, as law enforcement and individual companies struggle to keep pace with “hackers” attempting to gain illegal access to such data.   More stringent legislation, more enforcement of existing laws, and better virtual protection—coupled with increased consumer awareness—will help reduce the amount of data vulnerable to theft, ultimately protecting online consumers.