Starting November 12th, 2004, ICANN raised the Jolly Rodger and declared piracy on the open 'Net with a change in policy.
What am I talking about? Now if a domain registrar receives a request to transfer a domain that you the individual spent good money to own for a set number of years. IF after five days the registrar does not hear back from you, then they MUST hand over your domain to the requester.
It only makes sense this rule change if one is a business or some other entity who wants to try and scoop up a valuable domain name cheaply and without getting into legal problems like forging the real owner's name to a domain name change request form and hoping the real owner does not notice the change.
Thus piracy is once again allowed to flourish, but in a far more sinister form. Robbing people of their money is now legal according to ICANN. And that is my opinion on the matter.
There are only two ways to stop this. Be ever vigilant in checking your email and put a lock on your domain to prevent arbitrary changes of ownership or change of information. Remember incorrect information in your registration is grounds under ICANN rules to have your domain revoked.
Of course a better solution is for ICANN to come to its senses and repeal this rule change. Now I must ask who were the blithering idiots who thought letting the US release control of the whole Internet domain name schema was a good thing?