GITNUX MARKETDATA REPORT 2024

Must-Know Identity Theft Statistics [Latest Report]

Highlights: The Most Important Identity Theft Statistics

  • In 2020, there were 1.4 million cases of identity theft reported in the United States.
  • Approximately 33 percent of US adults have experienced identity theft, over twice the global average.
  • In 2020, identity theft reports increased by 113 percent compared to 2019.
  • The top five states for identity theft in 2020 were California, Texas, Florida, New York, and Illinois.
  • In 2019, financial losses from identity theft topped $16.9 billion.
  • Credit card fraud is the most common type of identity theft, comprising 41.8% of all identity theft cases in 2020.
  • 77 percent of identity theft victims in the US report emotion-based repercussions, such as anger, frustration, or fear.
  • In 2020, 3.3 percent of the global adult online population fell victim to identity theft.
  • Identity theft victims who had their accounts opened or misused experienced an average of $4,850 in direct and indirect losses in 2018.
  • In 2020, government documents or benefits fraud accounted for 34.1% of reported identity theft cases.
  • In 2019, 1 in 14 older adults (60+) was a victim of identity fraud.
  • Approximately 87% of identity theft cases involve unauthorized charges on existing accounts.
  • In 2020, there were 4,791 data breaches, causing potential exposure to identity theft.
  • In 2019, 59% of adults in the US reported using a credit freeze to protect themselves.
  • In 2020, phishing accounted for 28% of the causes of fraud reported to the Federal Trade Commission.
  • As of February 2021, 47% of Americans feel at risk of being a victim of identity theft.
  • Only 44% of US consumers check their credit report every year.
  • 83% of identity theft victims report issues beyond the initial crime, such as debt collectors or problems with loans.

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Identity theft is a growing problem in the United States and around the world. According to recent statistics, 1.4 million cases of identity theft were reported in 2020 alone, with 33 percent of US adults having experienced it at least once – more than twice the global average. In addition, reports increased by 113 percent compared to 2019 and financial losses topped $16.9 billion that same year.

The top five states for identity theft are California, Texas, Florida, New York and Illinois while credit card fraud remains the most common type of identity theft accounting for 41.8% of all cases in 2020 according to FTC data book report findings from that year as well as 77 percent emotion-based repercussions such as anger or fear among victims who experience this crime firsthand across America today.. Globally 3.3% fell victim to identity thefts on average taking 14 hours 8 minutes per case resolution time frame with an estimated 4 850 dollars direct/indirect loss incurred per person affected lastly 59 % Americans use credit freeze protection against potential threats yet only 44 % check their credit report annually leaving them vulnerable if not monitored regularly .

The Most Important Statistics
In 2020, there were 1.4 million cases of identity theft reported in the United States. This statistic is a stark reminder of the prevalence of identity theft in the United States. It serves as a wake-up call to individuals and organizations alike to take the necessary steps to protect themselves from this growing threat. It is a reminder that identity theft is a real and serious problem that needs to be addressed. Approximately 33 percent of US adults have experienced identity theft, over twice the global average. This statistic is a stark reminder of the prevalence of identity theft in the United States. It is a startling figure that highlights the need for individuals to take extra precautions to protect their personal information. It also serves as a warning to businesses and organizations to ensure that their security measures are up to date and effective in order to protect their customers and clients.

Identity Theft Statistics Overview

In 2020, identity theft reports increased by 113 percent compared to 2019.

This statistic is a stark reminder of the growing prevalence of identity theft in our society. It serves as a wake-up call to individuals and organizations alike to take the necessary steps to protect themselves from this increasingly common crime. The 113 percent increase in identity theft reports in 2020 is a clear indication that more needs to be done to safeguard our personal information and prevent identity theft from occurring.

The top five states for identity theft in 2020 were California, Texas, Florida, New York, and Illinois.

This statistic is a stark reminder of the prevalence of identity theft in the United States. It is particularly concerning that the top five states for identity theft in 2020 were all populous states, indicating that the problem is widespread and not limited to any one region. This highlights the importance of understanding the risks associated with identity theft and taking steps to protect oneself.

In 2019, financial losses from identity theft topped $16.9 billion.

This statistic is a stark reminder of the immense financial burden that identity theft places on individuals and businesses alike. It is a testament to the severity of the issue and the need for greater awareness and prevention measures. The $16.9 billion in losses is a staggering amount that highlights the importance of understanding the risks associated with identity theft and taking steps to protect oneself.

Credit card fraud is the most common type of identity theft, comprising 41.8% of all identity theft cases in 2020.

This statistic is a stark reminder of the prevalence of credit card fraud in identity theft cases. It serves as a warning to those who may be unaware of the dangers of identity theft and the importance of taking steps to protect their personal information. It also highlights the need for businesses to invest in security measures to protect their customers from becoming victims of identity theft.

77 percent of identity theft victims in the US report emotion-based repercussions, such as anger, frustration, or fear.

This statistic is a stark reminder of the emotional toll that identity theft can take on its victims. It highlights the fact that identity theft is not just a financial issue, but a psychological one as well. It is a reminder that the effects of identity theft can be far-reaching and long-lasting, and that victims need to be aware of the emotional repercussions that can come with it.

In 2020, 3.3 percent of the global adult online population fell victim to identity theft.

This statistic serves as a stark reminder of the prevalence of identity theft in today’s digital world. It highlights the importance of taking proactive steps to protect one’s personal information and identity from malicious actors. It also serves as a warning to those who may be unaware of the risks associated with online activities, and the need to be vigilant in safeguarding their personal data.

Identity theft victims who had their accounts opened or misused experienced an average of $4,850 in direct and indirect losses in 2018.

This statistic serves as a stark reminder of the financial toll that identity theft can take on its victims. It highlights the fact that the losses associated with identity theft can be significant, and that those affected should take steps to protect themselves. It also serves as a warning to those who may be unaware of the risks of identity theft, and the potential financial consequences of falling victim to it.

In 2020, government documents or benefits fraud accounted for 34.1% of reported identity theft cases.

This statistic is a stark reminder of the prevalence of government documents or benefits fraud in identity theft cases. It highlights the need for individuals to be vigilant in protecting their personal information, especially when it comes to government documents or benefits. It also serves as a warning to government agencies to ensure that their systems are secure and that they are taking all necessary steps to protect citizens’ personal information.

In 2019, 1 in 14 older adults (60+) was a victim of identity fraud.

This statistic is a stark reminder of the prevalence of identity fraud among older adults. It highlights the need for increased awareness and protection against identity theft, especially for those in the 60+ age group. It is a call to action for individuals, businesses, and organizations to take steps to protect themselves and their loved ones from the devastating effects of identity theft.

Approximately 87% of identity theft cases involve unauthorized charges on existing accounts.

This statistic is a stark reminder of the prevalence of identity theft, particularly when it comes to existing accounts. It highlights the importance of taking extra precautions to protect one’s personal information, as unauthorized charges can have a significant financial and emotional impact. Furthermore, it serves as a warning to be vigilant when it comes to monitoring accounts and credit reports for any suspicious activity.

In 2020, there were 4,791 data breaches, causing potential exposure to identity theft.

This statistic is a stark reminder of the prevalence of data breaches in 2020, and the potential for identity theft that these breaches can cause. It serves as a warning to individuals and organizations alike to take the necessary steps to protect their data and identities.

In 2019, 59% of adults in the US reported using a credit freeze to protect themselves.

This statistic is indicative of the growing awareness of identity theft and the proactive steps people are taking to protect themselves. It shows that a majority of adults in the US are taking the necessary steps to safeguard their personal information and prevent identity theft. This is an encouraging sign that people are becoming more aware of the risks associated with identity theft and are taking the necessary steps to protect themselves.

In 2020, phishing accounted for 28% of the causes of fraud reported to the Federal Trade Commission.

This statistic is a stark reminder of the prevalence of phishing in the realm of identity theft. It highlights the importance of being vigilant and aware of potential phishing scams, as they are a major source of fraud reported to the Federal Trade Commission. It is essential to be aware of the risks associated with phishing and to take the necessary steps to protect yourself from becoming a victim.

As of February 2021, 47% of Americans feel at risk of being a victim of identity theft.

This statistic is a stark reminder of the prevalence of identity theft in the United States. It shows that nearly half of Americans are aware of the potential danger of having their personal information stolen and used for malicious purposes. This statistic serves as a call to action for individuals to take steps to protect themselves from identity theft.

Only 44% of US consumers check their credit report every year.

This statistic is a stark reminder of how many US consumers are leaving themselves vulnerable to identity theft. With such a low percentage of people regularly checking their credit report, it’s likely that any fraudulent activity on their accounts could go unnoticed for a long time. This could lead to serious financial and personal consequences for those affected.

83% of identity theft victims report issues beyond the initial crime, such as debt collectors or problems with loans.

This statistic is a stark reminder of the far-reaching consequences of identity theft. It highlights the fact that the initial crime is only the beginning of the ordeal for victims, as they are often left to deal with the aftermath of the crime, such as debt collectors and loan issues. This statistic serves as a warning to those who may be at risk of identity theft, and emphasizes the importance of taking the necessary steps to protect oneself.

Conclusion

Identity theft is a serious problem in the United States, with 1.4 million cases reported in 2020 and financial losses topping $16.9 billion in 2019. Credit card fraud was the most common type of identity theft, accounting for 41.8% of all cases that year, while government documents or benefits fraud accounted for 34.1%. Identity theft victims experienced an average of 14 hours to resolve their case and often faced emotional repercussions such as anger or fear due to the crime’s impact on their lives and finances. The top five states for identity theft were California, Texas, Florida, New York and Illinois; however it can happen anywhere at any time so it’s important to take steps like using credit freezes or checking your credit report regularly to protect yourself from becoming a victim of this crime

References

0. – https://www.cyware.com

1. – https://www.javelinstrategy.com

2. – https://www.crr.bc.edu

3. – https://www.proofpoint.com

4. – https://www.bankrate.com

5. – https://www.cnbc.com

6. – https://www.iii.org

7. – https://www.ftc.gov

8. – https://www.experian.com

FAQs

What is identity theft?

Identity theft is the fraudulent acquisition and use of someone's personal information, such as their name, Social Security number, or credit card details, typically for financial gain or other illegal activities.

What are the common methods that criminals use to steal someone's identity?

Common methods include phishing, data breaches, mail theft, card skimming, hacking into personal accounts, and social engineering tactics - where the thief manipulates the victim into divulging their confidential information.

What are the potential consequences of identity theft for the victim?

Victims of identity theft may face financial loss, negative impacts on their credit scores, unauthorized access to medical information, damaged reputation, and emotional distress. It might also take considerable time and effort for the victim to resolve the identity theft issues.

How can individuals protect themselves from identity theft?

Some steps to protect against identity theft include using strong and unique passwords, enabling two-factor authentication on online accounts, regularly monitoring bank and credit card statements, being cautious about sharing personal information online, and securing physical copies of important documents.

What should one do if they suspect they are a victim of identity theft?

Suspected victims of identity theft should immediately notify their financial institutions, place a fraud alert on their credit reports, file a police report, report the incident to the Federal Trade Commission, and monitor their accounts and credit reports closely for further unauthorized activities.

How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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