IDENTITY THEFT
Nearly 10 million Americans were estimated to have been victims of identity
theft in 2003.75
Approximately 3.25 million people discovered in the past
year that their personal information had been misused to open new accounts or
commit other frauds or crimes.76
Fifteen percent of all identity theft
victims reported that their information had been misused in non-financial
ways.77
Victims of identity theft lost an average of $500 in
out-of-pocket expenses related to the crime. Victims of identity theft involving
the opening of new accounts or other fraud lost an average of
$1,200.78
In a recent survey, approximately one-quarter of identity theft
victims reported the crime to the police. Thirty-eight percent did not
report that they had been victims to anyone, including credit bureaus, the
Federal Trade Commission, or others.79
The total cost of identity theft in the past year,
including to businesses, was $50 billion. The cost to victims was an
estimated $5 billion.80
75 Synovate. (2003). Federal Trade
Commission – Identity Theft Survey Report. Washington, DC: Federal Trade
Commission. Online: http:www.ftc.gov/os/2003/09/synovatereport.pdf
.
76 Ibid.
77
Ibid.
78 Ibid.
79 Ibid.
80 Ibid.