In an Associated Press report, cybersquatting – the buying and selling of domain names – is an estimated $2 billion industry. The pay-per-click advertising model could reach $4 billion by 2010 as people continue to purchase approximately 90,000 names a day and the number of domain registrars swells.
The U.S. Department of Justice submitted proposed legislation to Congress on Thursday, looking to tighten laws that would take on the growing problem of identity theft.