Identity Obesity is the Root Cause of the Identity Theft Epidemic

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) June 23, 2010 -- Many of today’s identity theft challenges arise from the fact that most consumers and businesses are identity obese. As such, they have excessively accumulated and shared personal information with others. Without an understanding of the identity theft risks as well as the willingness to adjust their identity management practices, they continue to mismanage their identities and the personal information of their clients.

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Identity Obesity is the Root Cause of the Identity Theft Epidemic

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Let’s further understand what I mean by identity obesity and why I think most consumers and companies are identity obese. With regards to consumers, the best comparison can be made to our food consumption and weight obesity. As eating more of the wrong things can lead to obesity and health problems, managing too many identity components in the wrong way can also lead to identity theft. One of the reasons consumers constantly create or duplicate their personal information through sharing is that they lack the basic understanding of the identity protection risks. For example, consumers continue to accumulate credit cards in which case the average consumer owns 8 credit cards or they carelessly create too many online accounts whether it’s financial accounts or social networking accounts without the basic understanding of identity theft risks and related protection and theft detection techniques. The big difference between weight obesity and identity obesity is that it’s very difficult to reverse the damage caused by identity obesity. Once personal information is shared with other parties, it’s sometimes impossible to recollect the shared information or stop the sharing cycle by parties we shared the information with in the first place. Some companies also collect more personal information from their clients than they need to run their businesses. Once client personal information is collected, businesses continue to excessively copy, duplicate and store many copies of the same information and documents in various forms and locations. This careless practice leads to unnecessary information protection risks and additional protection cost. What makes it even worse is that companies which sell consumer goods and services such as credit cards, fail to educate their customers about the identity theft risks when using their products because education and awareness costs money and can sometimes lead to lower sales.

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