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  • Wiki Articles - The Implications of Identity Fraud

    Identity fraud is defined as access to another person's personal account information that leads to fraud.

    Identity fraud is the crime that most people fear. If you do not know much about identity fraud and identity theft, you should make sure you read and learn about this type of criminal activity. You cannot prot
    According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
    ect yourself, if you do not understand the crime!

    Around the world people are beginning to acknowledge that albeit a comparatively new form of criminal activity the instances of identify fraud are on the increase. Every year there are more cases of identity fraud.

    According to the Federal Bureau of Intelligence (
    ; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

    Examples of combination products may in
    BI) and the Federal Trade Commission (FTC) identity fraud is among the fastest growing crimes in the USA and is also receiving increasing media attention. The instances of Identity Fraud has created over 27 million victims and the loss of billions of dollars to businesses and financial institutions from 1998 to 200
    lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

    .

    Identity Fraud is growing at an alarming rate in the UK and it is predicted to get much worse. Identity fraud has been identified as costing the UK billions of pounds a year, and is one of Britain's fastest growing crimes, yet people are still not doing enough to protect themselves.

    Not just in the USA and the
    here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
    UK is identity fraud causing concern but in every major country around the world. Identity fraud is a growth industry and as fast as law enforcement agencies, government departments and financial institutions move to plug gaps and loopholes, the criminals find new ways to exploit a fundamentally flawed system based
    d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

    Combination pro
    on old-fashioned paper and cumbersome, slow-moving bureaucracies.

    The term identity fraud has become very popular over the last 10 years. There are many explanations on what identity fraud is but I believe it is most accurately described as the crime committed when someone's good name and identity is stolen and us
    ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
    d for illegal purposes.

    Identity fraud is a far wider problem than the popular understanding that criminals assume another person's identity to obtain cash, property or services. Unfortunately, thieves are very clever and they can steal your information very easily and use it any amount of different ways. Some of
    easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
    the possibilities include:

    - By rifling through your household rubbish to try and find important personal details (receipts, bank statements etc). You would be amazed what people put in their rubbish.

    - By simply obtaining a credit card number or the actual credit card can allow criminals to make unauthorised ch
    nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
    rges to your account. Credit card numbers are on any receipts you receive for purchases made. Also on your monthly statements you receive in the mail. If you lose a credit card for some reason your number is on it and can be used fraudulently. Credit card fraud can occur at a merchant or over the telephone or th
    and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
    Internet where you do not need to be present to purchase goods. Who knows what is happening at the other end – we tend to trust people too much.

    - By Skimming – this is form of credit card fraud that occurs in the course of a normal, legitimate transaction and involves copying the magnetic stripe from a genuin
    ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
    payment card and transferring the information to a substitute counterfeit card.

    - Hacking into personal computers and databases. With the technology that is available today even criminals with the basic technology skills can hack into computer systems.

    - By gaining the trust of the unsuspecting victim to elici
    ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

    Following aspects would a
    t their personal information from them. This is commonly known as Social Engineering or Pretexting. These are illegal practices were your information is gained by false pretences.

    - By obtaining false documentation (birth certificates, passports, drivers licenses etc).

    Identity fraud is not exclusive to one par
    dd to the challenges in developing combination products:

    Which markets to tap where the combination products can do fairly well?
    Which combination prod
    icular type of criminal activity. Identity fraud is now becoming big business and it encompasses most of the major criminal sectors in some form or other, including, illegal immigration, drug trafficking, money laundering, vehicle theft and fraud against the public and private sector.

    Identity fraud is becoming a
    cts are meaningful and rational?
    Which therapeutic categories to select?
    Which Combinations can address unmet needs of the patients?
    Do combin
    lear and growing threat to all forms of our society. Everywhere you look, identity fraud is making news these days.

    Though commonly referred to as a "privacy" problem, identity fraud can be more accurately described as a financial crime. The fact is, bank and credit card identity fraud is big business these days a
    tions increase the patient compliance?
    What would be the developing cost?
    How to tackle the risks encountered during combination product developmen
    nd you can get caught out in several different ways.

    One of the biggest problems in the battle against identity fraud is the growing sophistication of the methods being used, which in most cases stay ahead of detection methods. The introduction of Chip and PIN to combat credit card fraud has made fraudsters turn t
    t?

    As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
    new scams and identity fraud is proving particularly lucrative.

    While "true name identity theft" is a very real problem, the reality is that consumers never report the majority of identity fraud because consumers are never directly victimised. Unfortunately, in many areas identity fraud is not acknowledged and is
    ping new procedures for reviewing their safety, efficacy and quality.

    Professional from academic institutions, pharmaceutical industries, health care indust
    not as a crime and is rarely prosecuted.

    One of the strongest ways of stopping identity fraud is education, and education comes in the form of knowledge. The best defence most people have against identity fraud is early detection.

    Preventing identity fraud requires a conscience change in behaviour that makes you
    y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
    alert and aware of the way you manage your personal information on a daily basis. It is easier to prevent a problem arising rather than having to sort it out. As it can take many frustrating phone calls to deal with banks, credit card companies and other lenders if you have been a victim to identity fraud.

    One the
    .

    As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
    ry of reducing the potential for identity fraud is to introduce national identity card schemes throughout the major countries of the world. An International/National Identity Register, using biometric technology to crack down on multiple identities and secure personal data on behalf of the individual, would back th
    elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

    Companies that provide selfless information through particip
    se.

    The problem with that kind of system is its implementation on a global scale also in some quarters it is "Big Brother" gathering all your information and being able to keep a watch on your every move.

    The scary thing about identity fraud is how easy it really is to get the needed information, YOUR information


    tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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