Find out the latest identity theft statistics.

While identity theft statistics can be scary, explore this site for some simple steps you can take to get yourself protected and minimize your risk.

It has been reported that over 10 million Americans became victims of identity theft last year (2007). For 2008, it is estimated that over one in five (20%) American adults will be victims. It is also estimated that the average victim will pay over $15,000 to restore their name and financial history (this includes such things as legal costs and lost wages).

A recent identity theft statistics survey of identity theft victims showed: (Source Identity Theft Resource Center)

The emotional impact is similar to that of victims of violent crimes.

The average time spent by victims resolving the problem is about 600 hours (that's the equivalent to 3.5 months at a full time job!).

85% of victims discovered the crime when they were turned down for a loan or when they received a letter from a collection agency.

Only 15% of victims found out about the theft through proactive action taken by a business.

Average number of months between date identity theft occurred and date noticed - 12 months.

Largest victim age group 18-35.

California had highest number of identity theft cases.

Arizona had highest number of cases per capita.

Most common ways thieves use personal information: (Source: DOJ)

~Open credit card accounts (28%)
~Start up phone and/or utility service (19%)
~Bank fraud (18%)
~Employment (illegal aliens) (13%)
~Purchase vehicles or other property w/ fictitious loan (9%)
~Evade citation, arrest, criminal record (7%)
~Illegal entry into US (4%)
~Other (2%)

Most common ways thieves obtain credit card number: (Source: DOJ)

~Skimming
~Down-line skimming
~Data breaches
~Phishing and Pharming
~Discarded receipts

Here are some identity theft statistics taken from a sample of victims who reported the crime to the FTC: (Source: Federal Trade Commission)

Credit Card Fraud: New accounts opened in victim's name or a "taking-over" of their existing credit card account - 55%
Communication Services: Telephone or other utility service opened in victim's name - 28%
Bank Fraud: Percentage of victims who had a checking or savings account opened in their name or had fraudulent checks written from their account - 18%
Fraudulent Loans: Identity thief had obtained a loan in victim's name - 11%

Some more interesting information on identity theft statistics involving scams/fraud: (Source: NCL 2006 Scams)

Top 5 locations of crooks involved in scams:
~Outside Canada/U.S. ( 38%)
~California (10%)
~Florida/New York (Tie) (6%)
~Texas/Canada (Tie) (4%)
~Illinois (3%)

Top 5 US locations of consumers who were scammed (relative to population):
~Nevada
~Colorado
~Wyoming
~Maine
~Alaska

For Internet scams, methods of initial contact with crooks:
~websites (69%)
~email (31%)

Web sites were the most prevalent means of initial contact for scams involving:
~Investments (94%)
~Auctions (93%)
~General Merchandise (91%)

Email was the most prevalent method of contact for scams involving:
~Phishing (100%)
~Nigerian money offers (100%)
~Fake check scams (99%)

Identity theft statistics don't just include stories that happen to just one person at a time, more frequently it happens to groups of people either through their employer or through a service or product they've purchased which then has their personal information added to that company's or employer's data base.

Anytime your personal information is collected for a database, it becomes vulnerable to hackers or insider thieves. Companies (and even employers) you know and trust don't always have the latest security measures in place to safeguard your information. And even if they do, often the theft comes from an inside job.

It also happens in bulk when criminals buy 'lists of prospects' from data mining companies.

Here are some "group" identity theft statistics:

Over 140,000 individual records were sold by ChoicePoint to criminals posing as a legitimate business.

1,000,000 (yes, 1 million) consumer records stolen from TJ Maxx discount retailer. (Update: the number now stands at 46 million records stolen.)

800,000 records of past and present students and faculty hacked from UCLA.

Practically not a day goes by without hearing about another large-scale breach of consumer and employer records which open the flood gates to possible massive and widespread identity theft. However in most cases you won't even know about it because it goes unreported due to the company's fear that the negative publicity would hurt the company's image or stock prices*. ( * Source CSI/FBI Computer Crime and Security Survey)

Why won't this problem go away?

Identity theft statistics and instances are not going to decline anytime soon because the financial industry and data sellers rely on the convenient access and the free flow of your personal information to make their profits - and they oppose and lobby against reforms and laws that make it more difficult to obtain your personal data. Furthermore, as consumers, we rely on it too in order to take advantage of instant credit when we are shopping at the local mall or when we want to apply for a home loan with just a click of the mouse.

Further, in some areas of the country corporations, unions, law enforcement and elected officials are all aware of the problem but are reluctant to investigate too aggressively for fear it could dry up a ready source of cheap labor, force plants out of business and cripple tax revenues.

And of course wherever there is legitimate business and money to be made, you will find opportunistic criminals ready to scam their way into a slice of the profits.

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