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Report: Scammers are hiring; ID theft victims will get less protection in 2025

Roxana Popescu, The San Diego Union-Tribune on

Published in Business News

If you are looking for a job in 2025 and lack moral and ethical scruples, you may be in luck: The cybercrime job market is expected to boom.

That is according to a report by the Identity Theft Resource Center, a San Diego-based nonprofit that is a national leading expert in cybersecurity education, research and victim support.

The center made that and four other predictions for 2025 that primarily focus on enforcement policy changes and resource allocation priorities under the incoming presidential administration. While the predictions are about regulation, legislation and the business environment, there’s no question that each of the predictions has direct consequences for consumers.

“Professional cybercriminal organizations are gearing up for a hiring boom to take advantage of the power of artificial intelligence and the lack of enforceable cybersecurity standards in the U.S.,” the report states about recruitment in the cybercrime realm. “Easy to use tools that do not require a high level of technical skill allow criminals to target organizations, looking for known and unknown software bugs that can be exploited for a ransomware or a cyberattack that leads to a data breach. Job postings seeking software testers are already appearing in job forums used by cybercriminals.”

In the same report, the nonprofit also self-critiqued its 2024 predictions and found that it was spot on in two of five predictions. For the other three, it underestimated the extent of criminal activity and just how hard it would become to protect Americans’ identities from thieves. One harrowing statistic it shared: 12% of identity theft victims who contacted the nonprofit for help in 2024 shared thoughts about ending their lives because the impacts of the theft were so devastating.

Here’s what else to expect in 2025, according to the Identity Theft Resource Center:

1. Less support from government and law enforcement agencies to tackle cybercrime

“Federal government priorities under the new administration are likely to deprioritize critical areas like identity crime prevention, cybercrime enforcement, cybersecurity regulations and victim assistance program funding. Federal, state, and local governments, and non-governmental organizations (NGOs) that victims rely on to navigate complex fraud cases will see fewer resources allocated. A significant reduction in law enforcement involvement in identity crime investigations is also likely,” the report said.

 

2. Less money for ID theft crime victims

If the first prediction holds and fewer identity crimes are investigated and prosecuted, then fewer criminal fines and asset forfeitures will be available to replenish the 40-year-old Victims of Crime Act Fund, the report said. “The consequences will be significant: fewer resources for service providers like the ITRC, fewer victims receiving aid, and a diminished ability to address the ripple effects of identity crimes.”

3. Federal regulation will take a backseat to state regulation

The nonprofit expects federal regulators to loosen requirements around reporting cyberattacks and data breaches. In tandem, “the number of states expected to adopt their own privacy and cybersecurity laws and regulations will grow beyond the current 20 states that have them. That’s good news for residents of those states, but a state by state approach creates confusion for people and businesses and a system where geography determines your protections and support services. It’s also a compliance burden on organizations that operate in more than one state.”

4. Returning to self-regulation

In the 1990s and 2000s, industries developed best practices and standards around cybersecurity, the report said. That will become the trend once again. “Since federal government regulations will wane in the new year, look for voluntary, self-regulation to make a comeback when it comes to identity and cybersecurity.” There is one more drawback, the report concluded: “Without mandated requirements, sophisticated fraud enterprises will take advantage of inconsistent protections, leading to increased identity crimes and consumer distrust. Businesses will face greater reputational and financial risks due to breaches and fraud that stricter regulatory frameworks would help prevent.”


©2024 The San Diego Union-Tribune. Visit sandiegouniontribune.com. Distributed by Tribune Content Agency, LLC.

 

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