Current Identity Theft Statistics
Id theft (ID theft or identity fraud) is the deliberate appropriation of an individual’s private information to impersonate that person inside a legal sense. Taking someone’s identity enables the thief to create a frightening number of monetary and personal transactions in someone else’s name, departing the victim accountable for what might turn out to be a mind-boggling turmoil in his or her life. The Federal Trade Commission (Federal trade commission) keeps records on identity theft, and, and in addition, the number of incidents documented increase each year. The current identity theft statistics reveal that ID theft affects as much as ten million People in america each year! According to FTC’s id theft statistics, the deficits to businesses and financial institutions total almost 53 billion money annually.
These identity theft statistics further demonstrate that the most common types of Identification thefts are credit card frauds, communications services scams (such as opening a cell phone or a power services account using someone else’s information), financial institution fraud and loan scams. For years, the primary reason behind identity theft has been good old-fashioned or low-tech analog offense. Impersonators rummaging though letterboxes, snatching purses or perhaps searching the trash for discarded bank statements or credit card invoices. Rapid advances in technology have seen the plague of advanced phishing attacks. Identity theft figures expose phishing as the biggest of all ID thefts that uses both interpersonal engineering and complex subterfuge.
Phishing can have serious financial consequences. In a phishing strike, the victim is sent an email that \”appears\” being from a bank or other financial institution. The sufferer is then told to click a link and also verify his/her account information or even supply personal identification data. The link is apparently a legitimate site, however is in fact a scam. The minute he/she enters sensitive data, the identity crook gains access to account information and can empty the bank account. Phishers can also take out there credit cards in the individuals name, steal Web service provider account information and perform other financial damage. In its latest report on identity theft statistics, the investigation group Gartner says that close to 60 zillion Americans reported receiving a phishing email, and 1.7 thousand people have been victims of identity fraud, which cost banks and credit card companies $1.2 thousand in losses.