Identity Theft: Cross-Border Legal Paradoxes and India’s Cyber-Economic Crisis in the Algorithmic Age

Abstract

In the 21st century, the rapid increases in computers storage capacity and the ease of conducting tasks with a simple click have transformed the world into a virtual global village. This interconnected digital landscape has connected businesses worldwide and popularized net banking. However, the exponential growth in storage capabilities, the widespread use of the internet for business and financial transactions, and the rise of social networking have also created opportunities for white-collar crimes and illicit activities. Among these, identity theft has emerged as a growing concern across jurisdictions. Identity theft not only impacts victims’ financial security and mental well-being but also poses a significant threat to economic stability. Once primarily observed in Western nations, this crime has now become prevalent in developing countries like India. This research paper explores the rising phenomenon of identity theft in India and its severe economic implications for victims. It examines the prevalence and impact of identity theft, analyzes the legal framework addressing the issue in India, and delves into the various techniques and types of identity theft. Furthermore, the study offers a comparative analysis of the legal provisions for identity theft in India and the United States.