Identity theft and business ethics Essay Example | Topics and Well Written Essays - 1250 words

Identity theft and business ethics - Essay Example can be of negative impact to the business and the methods that can be used to control and prevent risks that may arise from such business ethical issues. Identity theft has been identified as one of the ethical dilemmas facing many business enterprises and organizations. This refers to the invasion to the privacy of information systems by malicious persons who acquire information that is supposed to be confidential and use it for their own benefit or to cause malicious damage to the integrity of the business (Angelopoulou et al 2005 p 78). This information can be used to defraud the owner of the information or it can be availed to competitors or the press, an occurrence that can cause serious financial and integrity damage. Identity theft in itself is a crime and is punishable by law with not less than 15 years imprisonment in the US. According to statistics, the year 1995 recorded the highest number of arrests in the US amounting to approximately 95% of the total arrests which were related to identity theft (Angelopoulou et al 2005 p 77).This prompted the government to enact the Identity Theft and Assumption Deterrence Act of 1998 which was aimed at controlling the vice that was rated by the FBI as the nation’s fastest growing crime. There are various types of identity theft that include and not limited to; credit card fraud, phone fraud, document, loan and bank fraud etc (Angelopoulou et al 2005 p 80). It is therefore necessary for everyone to be aware of the various forms of identity theft so as to avoid the repercussions which may arise and also to be able to refrain from conducting activities that may expose one to the risks. This ethical dilemma has been increasing due to the various businesses incorporation and embracing of technology, which has made it easier for the criminals to conduct their operations. One way through which identity theft is being accomplished is by hacking of information systems (Angelopoulou et al 2005 p 82). Hackers are