Detailing ID Thieves

Identity theft continues to be the top consumer fraud complaint, according to the Federal Trade Commission (FTC), so a study of Secret Service cases released yesterday makes for interesting reading and highlights the multitude of ways in which ID theft can occur. Surprisingly, in half of the cases surveyed by the Center for Identity Management and Information Protection at Utica College, no use was made of the Internet or technology in the commission of the crime. Within this half, the most frequently used non-technological methods were change of address and dumpster diving. Despite ID theft’s impact on individuals, financial industry organizations made up the largest percentage of victims in this study (37.1 percent), closely followed by individuals (34.3 percent) and retail businesses (21.3 percent). Meanwhile, only one-third of cases involved ID theft through employment, with retail (including stores, gas stations, casinos, hospitals, doctors offices) being the most frequent type of business from which personal identifying information or documents were stolen (43.8 percent). Private corporations were vulnerable to insider ID theft in about 20 percent of those cases. In terms of losses incurred by ID theft victims, the median loss was $31,356, and in general the more offenders involved in the case the higher that figure. Check out further I.I.I. facts & stats on ID theft.

Leave a Reply

Your email address will not be published. Required fields are marked *