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Abstract A few decades ago, identity theft was a little known and rarely used terminology in the United Arab Emirates (UAE). However, today, things have changed. Identity theft is a largely recognized terminology that has attracted the attention of members of the public, the media, and the government. It has also raised concerns among professionals in the field of accounting. In this paper, various issues related to this form of crime are discussed. The paper will mainly focus on this form of crime in the UAE and other countries. The crime is made possible by the established nature of contemporary electronic payment systems. In the modern global economy, vendors of commodities and services are willing to offer their products and services on account of a promise of payment. The delivery is made so long as the promise is anchored on data that link the purchaser to a credit history and a specific account. Cybercriminals can only succeed if they have access to the personal data of their target. Consequently, reducing the opportunities that help the criminal elements to access the data is the first step in the management of identity theft. Individuals, organizations, and governments have a role to play in the protection of data. Introduction Identity theft and cybercrime are fairly recent phenomena in the contemporary society. The security breach has attracted the attention of analysts and other stakeholders involved in the accounting and data sector. Identity theft is viewed as a form of white collar crime with serious social and economic ramifications (Ajayi, 2016). The crime is devastating and traumatizing. Its effects on the individual, the government, and the economy are long lasting. The effects can extend to businesses, the government, and the larger society (Ajayi, 2016). Identity theft may be a relatively new form of crime in the field of accounting, especially in the UAE. However, it has attracted a lot of attention and concerns from the authorities and the society in the recent past. The concerns have prompted the government to introduce new laws in an attempt to provide enhanced protection of data. The undertakings are informed by warnings made by the media and government agencies, which are directed to members of the public. The warnings inform people that identity card numbers, as well as other forms of personal information, are some of the instruments used by unscrupulous third parties to access individuals’ identity. Once the identity of the individual is obtained, the cybercriminals can use the information to perpetrate their criminal activities. In this paper, cybercrime and its impacts in the contemporary society, such as UAE, will be discussed. To this end, the paper will analyze the types of cybercrimes and identity thefts, the reasons behind this crime, and the techniques used by cybercriminals to carry out their activities. In addition, the paper will highlight some of the factors indicating that one may be a victim of identity theft, as well as a recent case of this crime in the UAE. Legal responses to this crime, especially in the UAE, will be highlighted. Finally, the consequences of identity theft and steps that can be taken to safeguard against cybercrime will be discussed. The discussions will be made from the perspective of the accounting field. Types of Cybercrimes According to police records, cybercrime is one of the fastest growing types of criminal activity in the modern society. The prevalence of this crime surpasses those involving credit card and check fraud (Ajayi, 2016). It is also higher than motor vehicle theft. According to security analysts and experts in the UAE, the identification and arrest of cybercriminals is extremely difficult (Neyadi et al., 2015). Get your 100% original paper on any topic done in as little as 3 hours Learn More Cybercrimes are illegal activities committed through the internet (Tropina, 2012). They also involve those crimes facilitated by the internet. To this end, cybercrime can be described as any criminal activity that involves networks and computers. There are different types of these crimes. They include sending unsolicited mail, cyber attacks against governments and other entities, and phishing of organizational secrets through hacking of the security systems (Nemati, 2012). Another form of this crime is identity theft. Types of Identity Theft According to Andress and Winterfeld (2013), this crime can be conceptualized as the use of the identification information that is unique to an individual without the permission of the owner. The identification information includes the individual’s identity card number and financial accounts. The financial accounts may entail those involved in investment, depository, and loans. It also involves unauthorized access to one’s online payment accounts and credit cards. The different types of identity theft include: Theft of Social Security Number (SSN). Theft of Taxpayer Identification Number (TIN). Financial Identity Theft (FIT), including that of credit card and bank accounts. Criminal identity theft. Medical identity theft. Insurance identity theft. Child identity theft. The various identity thefts take place with the express reason to commit financial crimes through impersonation, fraud, and direct of the victim’s identity to obtain some financial gains such as withdrawal of the individuals funds, obtaining loans and mortgages as well as goods (Andress
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