Computer fraud costs us $3 billion

Identity fraud is now costing Australians up to $3 billion each year, police experts said at the 2009 National Identity Crime Symposium yesterday.

“Criminals are now harvesting identity data and building profiles. The more information that can be obtained, the greater the criminal value,” the corporate crime squad police told Fairfax.

“Identity data stolen today may not manifest itself for years to come,” they said. “The 13-year-old child with today’s online social networking is unwittingly providing the profile for exploitation in only five years time.”

The conference heard that 50% of wireless internet networks are not safe from hackers, and that Australians must be aware of how to keep their digital identities safe.

“Incredibly, 50% of our wireless internet networks are insecure, essentially giving the green light to criminals to access our computer and steal our identity and financial data,” detective sergeant Steve Bignell said.