It’s hard to believe that if we were the victims of a crime that disrupted our lives, threatened our good names and cost us financially, we would not report it to the police or other authorities. However, it appears that such scenarios exist and are quite prevalent. Identity theft is a crime, and yet according to a recent report by the U.S. Bureau of Justice statistics, only 9% of identity theft victims contact the police.
In the wake of the recent credit hack via point of sale systems at Target, where 40 million customers had their records stolen, one wonders why thefts of this nature are regarded as beyond normal crime reporting. Victims feel that the police would be unable to handle the matter, and turn instead to financial institutions to resolve the problem. As a result, fraudsters of this kind continue to fill their ranks.
When we consider that the total losses for identity theft in 2012 amounted to $24.6 billion dollars, compared to $13.9 billion for property crimes, it seems that the need for measures to be taken is now critical. Voice biometrics could be implemented to play a simple yet integral role in bringing identity fraud under control.