Identity Theft Surge Likely to Create Multiple Employment Opportunities in IT Security

A recent survey conducted by the United States Department of Justice indicates that identity theft is indeed on the rise. Affecting millions of households in the U.S each year, identity theft costs have now soared well above $6 billion per year. The study confirms that roughly three percent of all U.S. households experienced some sort of ID theft during the first half of the calendar year 2004. While this particular method of illegally obtaining personal information for the purpose of financial gain only accounts for a percentage of the total losses resulting from identity theft, it represents an undermining of the online banking systems that many financial institutions have undertaken great expense to implement. Countering the surge in identity theft, many banking firms and other lenders are relying on an influx of recent and future graduates of IT security degree programs to spearhead efforts to thwart would be offenders who seek to commit criminal activity through electronic means. Whether the supply of IT security professionals is able to meet the current and future demands of the marketplace, however, is unknown. With identity theft and other data loss concerns becoming more commonplace in the information technology sector, an increased likelihood exists that security positions within the field will become harder to fill in the upcoming years. As IT security is a constantly evolving milieu, the need for well trained, competent systems management professionals is likely to extend into other sectors of information security as well. Not only are individuals at risk, institutions have also lost millions of dollars due to inadequate information security protocols. For those seeking a career opportunity, database security may represent one of the safest bets for future job security. According to the United States Department of Labor, "Employment (for computer security specialists) is expected to increase much faster than the average as organizations continue to adopt increasingly sophisticated technologies". While the future technologies implemented to effectively counter identity theft are unknown at this time, the need for qualified security personnel is an almost certainty. In a world where cyber crime is steadily rising, one can only hope that the professionals needed to design and implement advanced security measures needed to combat identity theft will be available to protect the resources of consumers and institutions alike.

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