ID Theft Facts

With identity theft claiming a victim every 3.8 seconds in the United States, many are concerned. Understanding the seriousness of this crime is one of the ways you can fight back.

• According to the FTC approximately 9.9 million Americans (4.3% of adults) became victims of identity theft in 2008.^*
• Over 339 million data records of U.S. residents have been exposed due to security breaches since February 2005, as of October 2009.^*
• The Federal Trade Commission (FTC) received 957,000 consumer fraud and identity theft complaints in 2008.^*
• The total cost of identity theft to businesses and consumers was $48 billion in 2008.^**
• The average fraud amount per victim was approximately $3,403 in 2008.^*
• The average victim of an existing account fraud paid approximately $739 out-of-pocket in consumer costs in 2008.^***
• The average victim of new account fraud paid approximately $951 out-of-pocket in consumer costs in 2008.^***
• The average resolution time for resolving an existing account fraud case was 58 hours per victim in 2008.^***
• The average resolution time for resolving new account fraud case was 165 hours per victim in 2008.^***
• According to the 2009 FTC Report 65 percent of ID Theft events are non-financial including:
  • Medical, Internet, Insurance, Securities, Child Support, Bankruptcy, Evading the Law, etc. – 24 percent
  • Employment-Related Fraud – 15 percent
  • Government Document and Benefits Fraud – 15 percent
  • Phone or Utilities Fraud – 13 percent
• Whereas the total financial ID Theft statistics as reported by the FTC include:^*
  • Bank Fraud – 11 percent (including Electronic Fund Transfer)
  • New Credit Fraud – 12.3 percent
  • Credit Card Fraud – 20 percent
  • Loan Fraud – 4 percent
• The chances of being a victim of:
  • Violent Crime: 1 in 5,000
  • Heart Disease: 1 in 2,600
  • Auto Accident: 1 in 130
  • Identity Theft: 1 in 23
• All a thief needs to open a credit card, get cash advances or obtain loans under your name is:
  • A Social Security number
  • A driver’s license
  • A checking account number
• According to the FTC, credit card fraud is the most common form of reported identity theft followed by phone or utilities fraud, bank fraud, employment fraud, government documents/benefits fraud and loan fraud.^*
• One of the biggest threats to confidential employee and customer data is a company’s own current and former employees.
• Hackers have hit 83% of financial institutions.
• More than 57 million people have received phishing emails.