Identity Theft Statistics
• Your chances of being a victim of Identity Theft are 1 in 4!
• Every three seconds, an identity is stolen.
• 8.4 Million Americans were victimized by Identity Theft in 2007.
• The total cost to consumers from identity theft was 49.3 billion dollars in 2007.
• On average, identity theft victims spend 40 hours to undo the damage and clear their names.
Identity theft statistics are shocking! In the past five years, 1 in 4 Americans was a victim of identity theft making it America’s fastest growing crime. Identity theft statistics indicate that this crime costs the government, businesses, and citizens of America billions of dollars each year.
The Federal Trade Commission recently conducted a study on identity theft. Below is a short summary of the alarming identity theft statistics they compiled.
• Nearly 10 million Americans were victims of some form of identity theft within the last year.
• 1.5 percent of survey participants reported that in the last year their personal information had been misused to open new credit card accounts. Additionally, 2.5 Percent reported other misuse of their credit card information in the last year.
• 15 percent of identity theft victims reported that their personal information was misused in non-financial ways. The most common misuse reported was for the identity thief to present the victim’s name and identifying information when stopped by law enforcement authorities or when charged with a crime.
• The average loss to a business is $4,800. Total business losses from identity theft exceeded $47 billion in the last year.
• The average loss to an individual is 30 hours and $500. Total personal losses from identity theft exceeded 297 hours and $5 billion in the last year.
Don’t Become an Identity Theft Statistic! Review this entire website to learn how to avoid identity theft and what to do if your identity is stolen.
Tags: Federal Trade Commission, Identity Theft Statistics, LifeLock
In my recent article, I talk about the fact that online credit card theft often results in 600 hours of work on the victim’s part to fix the damage. Amazing isn’t it? What could you have done in those 600 hours?