The 2006 Identity Fraud Survey Report - released by the Council of Better Business Bureaus and Javelin Strategy & Research indicates:
US General Accounting Office indicates:
- Annually there’s a 1 in 25 chance that you’ll become an identity theft victim - one identity is compromised every 4 seconds.
- There were 8.9 million adult victims of identity theft in the U.S. during 2006 and that the average amount of fraud per case was $6,383.
- Almost half (47 percent) of all identity theft is perpetrated by friends, neighbors, in-home employees, family members or relatives - someone known - when the victim can identify the perpetrator of data compromise.
- The 35-44 demographic age group has the highest average fraud amount ($9,435). (Note: victims' age was not found to be statistically related to Internet usage as compared to traditional types of fraud.)
- Generation X (ages 25-34) has the highest rate of identity fraud at 5.4 percent. The average fraud amount for this demographic is $6,270 as compared to the average fraud amount for the 65+ segment which is $2,665.
Major news organizations have done their own research. Here is what a few have to say about identity theft: The New York Times –
- Over 85% of all identity theft victims are between 18 and 59.
- Depending on severity, resolution time range is 5 – 600 or more hours per incident; the average is 175 hours.
- "More than 27 million Americans have been victims of identity theft in the last five years.... To deal with the problem, consumers reported nearly $5 billion in out-of-pocket expenses."
Knight Ridder/Tribune Business News –
- "Stealing someone's identity to acquire -- and use -- new credit cards has become one of the most popular white-collar crimes today, according to fraud investigators from across the country."
- "According to a convicted ID thief in Denver, CO, "On a good day I could make $5,000 in cash and another $7,000 to $8,000 in merchandise..."
US Department of Justice Web site –
- "In one notorious case of identity theft, the US Department of Justice reported that the criminal incurred over $100,000 of credit card debt, obtained a federal home loan, and bought homes, motorcycles, and hand guns in the victim's name all the while calling his victim to taunt him."
- "Most people don't find out they have been a victim of a stolen identity until they are turned down for a loan or credit card. A copy of their credit report explaining the denial may unveil weeks or months of fraud."
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|We are all at risk of becoming a victim of identity theft. It is not a question of if, but when. |
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