Identity Fraud in Australia: An Evaluation of Its Nature, Cost and Extent

This study presents research conducted across 120 Australian organisations, including all levels of government, the private sector and law enforcement, on the impact of identity fraud and the extent and type of organisational response. In doing so, the study challenges traditional beliefs about identity fraud by empirically presenting its nature, cost and extent in Australia along with the activities conducted by organisations in anticipation of, and reaction to, this type of crime. Based on data collected for the study, the cost of identity fraud to Australia for 2001-02 is estimated to be $1.1 billion. The study extends current understandings about identity fraud's manifestation and impact, including the use of other-than-individual identities in the committing of such crime. It also presents new and innovative ideas in seeking to better understand crime at a national level through the application of proven methodologies within the disciplines of accounting, management and finance. Overall, the study highlights a number of challenges, based on the complexities of the current identification system, that will require serious consideration.