What are some statistics about identity theft?
Last year, the FTC received more than 1.4 million reports of identity theft (Source: Federal Trade Commission | Consumer Sentinel Network Data Book 2021) Identity thieves stole around $52 billion from Americans last year (Source: Javelin Strategy & Research | 2022 Identity Fraud Study: The Virtual Battleground)
Is identity theft trending up or down?
Identity theft incidents almost doubled between 2019 and 2020. The total amount of money lost due to identity fraud was also on the rise. According to the FTC, reported losses grew from $1.8 in 2019 to $3.3 billion in 2020 and $5.8 billion in 2021.
What demographic group is the most common victim of identity theft?
Based on the 2016 survey, more females (13.5 million) experienced identity theft than males (12.5 million). However, males and females had similar identity-theft prevalence rates (10% each). Whites (12%) had a higher prevalence of identity theft than blacks (7%), Hispanics (6%), and persons of other races (8%).
How many teens have their identities stolen each year?
Children are ripe for this type of fraud, and the experts estimate that 1 million children are victims of identity fraud every year. The losses stemming from identity theft total more than $2.67 billion.
What is the most common form of identity theft?
Financial identity theft
Financial identity theft. This is the most common form of identity theft — when someone uses another person’s information for financial gain. For instance, a fraudster may use your bank account or credit card numbers to steal money or make purchases, or use your Social Security number to open a new credit card.
Why do you think identity theft is increasing?
Advent of New Marketplace Platforms. The advent of new, less monitored marketplace platforms has also contributed to the rise of identity theft cases. New marketplace platforms offering e-commerce functionalities have been popping up everywhere—making them easy targets for identity thieves.
How many people suffer from identity theft a year?
15 million people in the US experience identity theft every single year. This results in $50 billion in financial losses.
How common is identity theft in the US?
Nearly 60 million Americans have been affected by identity theft, according to a 2018 online survey by The Harris Poll. That same survey indicates nearly 15 million consumers experienced identity theft in 2017. So, yes, the crime of identity theft is relatively common.
How often is identity stolen?
Identity theft affects about 1 in 20 American each year. According to Javelin’s 2020 Identity Fraud Survey, 13 million consumers in the U.S. were affected by identity fraud in 2019 with total fraud losses of nearly $17 billion. But preliminary data shows 2020 may have seen an alarming rise in identity theft.
Who is the main target of identity theft?
children
Target 1. There’s nothing of value to steal — except, of course, their identity itself. But the reason children are so often victims of identity theft is shockingly simple. It’s an unused Social Security number — and no one is monitoring it.
What is the largest age group targeted for identity theft?
30 to 39-year-olds
Identity Theft Reports by Age 2020 was an atypical year for identity theft, in that 30 to 39-year-olds were the most frequently targeted age group for identity theft. Normally, children under 19, young adults 20 to 29, and seniors over 60 are the most common victims of identity theft.
How many kids get their identity stolen?
SAN FRANCISCO, November 02, 2021–(BUSINESS WIRE)–More than 1.25 million children in the United States fell victim to identity theft and fraud in the past year, costing the average affected family more than $1,100, according to the 2021 Child Identity Fraud Study, released today by Javelin Strategy & Research, part of …
What percentage of identity thieves are caught?
5. Are identity thieves ever caught? Identity theft statistics for 2020 are not available yet; however, 2006 research showed that federal authorities arrest only 0.14% of the criminals (one person in 700 identity theft suspects). In contrast, nearly 45% of violent crime and 16% of property crime suspects were arrested.
What is the most common way of identity theft?
Financial identity theft is the most common type of identity theft.
Why is identity theft so common?
The most common reason why people commit identity theft and other white-collar crimes is for financial benefit. By committing identity theft, individuals may: Take out loans. Make purchases using other people’s credit cards.
Where does identity theft rank in the US?
According to the FTC, in 2021, Rhode Island had the highest rate of identity theft reports per capita, but Texas had the highest total number of reports overall….Identity theft statistics by state.
Rank & state | Reports per 100,000 | Total reports |
---|---|---|
1. Rhode Island | 2,857 | 30,270 |
2. Kansas | 1,355 | 39,461 |
3. Illinois | 924 | 117,056 |
Why identity theft is the fastest growing crime?
Identity theft is facilitated by the ubiquitous availability of the Internet and by the increasing tendency to store personal information digitally. As a result cyber crime has been growing rapidly and identity theft has become one of the fastest growing cyber crimes.