In the next two and a half hours, 150 North Americans will have their identities stolen1. A recent survey published by business research group Gartner Inc. estimated that – in the US alone – 7 million adults had been the victims of identity theft in the twelve months ending June 2003. This represents a 79% increase compared with the previous year. Steven Philippsohn is a leading authority on fraud and cybercrime, and regularly gives lectures on asset recovery, money laundering, and, following the Enron and WorldCom scandals, corporate governance and operational risk management. He is a member of the Home Office Research Panel investigating information technology and the threat of Internet crime. He also participates in the APACS project, which looks into Card Not Present fraud and Identity Theft. Steven is Chairman of the Cybercrime Working Party of the Fraud Advisory Panel.