2010 Identity Theft Statistics Released
The 2011 Identity Fraud Survey Report by Javelin was just released, and it shows new trends in identity theft. While the report states that identity theft cases have decreased overall, it is costing consumers more time and money. The good news is that the drive to increase awareness about identity theft is working.
Meanwhile, consumer costs, the average out-of-pocket dollar amount victims pay, increased, reversing a downward trend in recent years. This increase can be attributed to new account fraud, which showed longer periods of misuse and detection and therefore more dollar losses associated with it than any other type of fraud. – Javelin Strategy & Research
The cost to resolve identity fraud issues rose dramatically in 2010 because there was a change in the type of fraud that was being committed. New Account fraud is on the rise and this is the hardest type to detect and costs the victim the most. The majority of thieves who use friendly fraud, where they target friends and relatives they know, are able to do a lot of damage by setting up new accounts in the victim’s name. Since the victim has no idea that they are a victim, they can continue to use their identity longer, which racks up more financial theft. 
Javelin Identity Theft & Identity Fraud 2009 Survey
A few weeks ago, Javelin Safety & Research released its comprehensive survey on Identity Theft & Fraud for the fifth consecutive year.
Let me boil it down to the Top 5 Identity Theft Findings that impact you (and my comments and opinions in parentheses):
- Overall Identity Fraud Incidents Increased in the United States (the problem is getting worse as the economy sinks and people turn to crime to pay their bills)
- Costs to Consumers are Down (businesses are being forced to take greater responsibility for the liabilities and costs of identity theft – in other words, the burden is shifting from the consumer to corporate America)
- Fraudsters are Moving Much More Quickly (the crime of identity theft is moving from garden variety criminals into the hands of organized crime)
- Gender Disparity—Women were 26 percent more likely to be victims of identity fraud than men in 2008 (three factors: 1. women’s purses contain more identity; 2. women are less cynical and more trusting of others [a generalization that proves itself anecdotally in my identity theft speeches every week - it is much easier to get a purse from a woman than a wallet from a man]; 3. more women than men are responsible for household finances, putting them at higher risk of losing the data
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