Many have been victimized by identity theft and no other area has been so affected as the banking industry. Investment in upgrading and purchasing newer technology and software is one of the most expensive costs for the banking sector which has one of the highest losses when it comes to IT security. Banks and other financial institutions are expected to pour billions of dollars into buffing up their defenses in hopes of staying one step ahead of fraudulent claims and users. The culprit, the internet, the internet has become one of the most dangerous territories on earth for anywhere financial information is transmitted and used, it can be intercepted and misused. True to the dilemma, health industry leaders have also begun to recognize the rising costs associated with identity theft related medical claims. This has already been in the forefront of the battle in the US and is fast spreading around the world and company after company is falling victim to the said crime. The internet also makes it easy to get away with the crime for use of public access which can be traced but the user may be any of the millions of users at one time. Hackers can also turn to call bouncing options which is more akin to spy movies but is really possible. The banking industry has long been a target of ID theft more so in their credit card divisions where billions are lost annually to fraudulent claims and use. Technology is the only security these establishments have as defense but technology as we know it costs a lot but there may be no other choice for them. Buy or bust is the dilemma and they are surely buying.