Identity Theft Protection Strategies: A Literature Review

This paper examines the recent identity theft phenomenon in the world today with significant economic harm to victims. Identity-theft-based crimes are considered one of the most significant and growing problems of the last two decades. A systematic review of literature described identity theft in detail and issues and control strategies were presented. Types of online-identity theft which have economic risks include financial, insurance, medical, debit/credit card, e-commerce and IOT theft. Most vulnerable to identity theft are the financially impulsive people. Identity theft is not only directed towards individuals but companies in forms of data leaks or hacking incidence with ASEAN region as the primary targets. Education and awareness is the best tool consumers need to protect themselves from identity theft and the consequences which includes financial difficulties, emotional/psychological and strong physical reactions among others.