Identity Finder Facts and Figures for Identity Theft

Definition of Identity Theft

Federal Trade Commission (16 CFR Part 603 §603.2 (a,b)): "The term "identity theft" means a fraud committed or attempted using the identifying information of another person without authority. The term "identifying information" means any name or number that may be used, alone or in conjunction with any other information, to identify a specific person, including any--

name, social security number, date of birth, official State or government issued driver's license or identification number, alien registration number, government passport number, employer or taxpayer identification number;
unique biometric data, such as fingerprint, voice print, retina or iris image, or other unique physical representation;
unique electronic identification number, address, or routing code; or
telecommunication identifying information or access device (as defined in 18 U.S.C. 1029(e))."

National Crime Prevention Council: "Identity theft or identity fraud is the taking of a victim’s identity to obtain credit and credit cards from banks and retailers, steal money from a victim’s existing accounts, apply for loans, establish accounts with utility companies, rent an apartment, file bankruptcy, or obtain a job using the victim’s name."

Laws and Statutes

Identity Theft and Assumption Deterrence Act of 1998 (US Code Title 18 Part 1 Chapter 47 §1028(a)(7)): This act made it a Federal crime when anyone, "knowingly transfers, possesses, or uses, without lawful authority, a means of identification of another person with the intent to commit, or to aid or abet, or in connection with, any unlawful activity that constitutes a violation of Federal law, or that constitutes a felony under any applicable State or local law[.]"

Individual United States: All 50 states and the District of Columbia have passed statues criminalizing Identity Theft. In 40 states, depending on severity of the offense, Identity Theft may be a felony punishable by fines and jail time. For more information, visit the National Conference of State Legislatures.

IDENTITY THEFT STATISTICS

Over 250 million data records of U.S. residents have been exposed due to security breaches since February 2005. As of Q1 2009, Consumers Union reports that 42 of the 50 states in America have Notification of Breach laws that require notice of a breach of security of unencrypted personal information by persons doing business in their state. You can view the notice of breaches over the last couple of years by visiting the Privacy Rights Clearinghouse's Chronology of Data Breaches.

FTC, Consumer Fraud and Identity Theft Complaint Data, February 2007

Between January and December 2006, Consumer Sentinel, the complaint database developed and maintained by the Federal Trade Commission (FTC), received over 670,000 consumer fraud and identity theft complaints.
Consumers reported losses from fraud of nearly $1.2 billion.
The metropolitan areas with the highest per capita rates of reported identity theft are Napa, California; Madera, California; and McAllen-Edinburg-Mission, Texas.
The most common forms of identity theft:
          o Credit card fraud (25%)
          o Phone or utilities fraud (16%)
          o Bank fraud (16%)
          o Employment fraud (14%)
          o Government documents/benefits fraud (10%)
          o Loan fraud (5%)

Javelin Research, 2007 Identity Fraud Survey, February 2007

In 2006, 8.4 million Americans became the victims of identity fraud
Young adults (18-24) suffer higher rates of identity fraud than any other age group and younger victim are almost twice as likely as other age groups to be victimized by people they know.
The total fraud amount was $55.7 billion.
The average fraud amount per victim was approximately $5,869.
The average victim of an existing account fraud paid $587 out-of-pocket in consumer costs.
The average resolution time for resolving fraud cases has increased from 33 hours in 2003 to 40 hours in 2006.

Bureau of Justice Statistics, Identity Theft 2004 report, April 2006

3.6 million households, representing 3% of the households in the United States, discovered that at least one member of the household had been the victim of identity theft during the previous 6 months.
About 6% of households experiencing identity theft during the 6-month reference period reported that they experienced multiple episodes.
3 in 10 households experiencing any type of identity theft discovered it by missing money or noticing unfamiliar charges on an account.
About 1 in 6 victimized households had to pay higher interest rates as the result of the identity theft, and 1 in 9 households were denied phone or utility service.
1 in 5 of victimized households with problems spent at least one month resolving problems.
Most households incurred a monetary loss as a result of the identity theft. For the households experiencing identity theft:
          o Reported a monetary loss (69.2%)
          o Did not know the amount of the loss (13.8%)
          o Reported no loss (17.1%)
Amount lost in theft:
          o Don't know (13.8%)
          o More than $5000 (5%)
          o More than $1000 but less than $5000 (15.1%)
          o More than $250 but less than $1000 (21.1%)
          o Less than $250 (45%)

GAO, Report to Congressional Requesters - Identity Theft (GAO-02-363), March 2002
This study discussed the costs of Identity Theft to federal agencies. The executive office for U.S. Attorneys estimated cost of prosecuting a white-collar crime case was $11,443. The Secret Service estimates the average cost per financial crime investigation is $15,000. The FBI estimates the average cost per financial crime investigation is $20,000.