By the year 2020 if you have not been subject to Identity theft you will be a minority.
2010 Identity Theft Report
Javelin Strategy & Research has issued its 2010 report on identity fraud occurrences from 2009. Key highlights from the report show that while the instances of identity theft reached record numbers in 2009, victims spent less time and money recovering from the crime.
You should know:
Each year it happens to countless victims who innocently give their credit cards to servers in restaurants.
Even if you are cautious when making an ATM transaction, identity thieves can be watching you type in your PIN or rig a bank machine to copy your bank card. Shredding may not be enough to keep dumpster divers from finding copies of your checks, credit card statements and other personal paperwork that leads to identity theft.
It’s not just online purchases that are vulnerable to identity theft. In fact, online transactions are a small majority of identity fraud cases. You should know that identity theft happens every day to people from all walks of life. What can you do to combat this crime? The Identity Theft ShieldSM provides a suite of service designed with detection and restoration in mind
Key statistics •11.1 million adults were victims of identity theft in 2009 •The total fraud amount was $54 billion •The average victim spent 21 hours and $373 out of pocket resolving the crime •4.8% of the population was a victim of identity fraud in 2009 •13% of identity fraud crimes were committed by someone the victim knew
Increase in identity theft cases
According to Javelin, the number of identity fraud victims increased by 12% in 2009 and the amount of fraud increased by 12.5%. This is the highest rate of increase in the seven years that the company has been issuing the report. New account fraud represents 39% of all 2009 fraud cases, versus 33% in 2008. Many of these fraudulent accounts were opened online. New account fraud isn't limited to credit card accounts. Fraudulent cell phone accounts make up 29% of total new account fraud.
Existing credit cards are also highly targeted, making up 75% of fraud attacks on existing accounts. Identity fraud resulting from data breaches If a company you’ve done business with suffers a data breach, the thieves are most likely to steal your name, address, and other personal stored information. Thieves could use this information in a phishing attempt to get more information from you, like your bank account number or PIN. On the upside, fewer Social Security numbers were compromised in company data breaches in 2009 than in 2008.
