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Identity theft is a major problem. According to the Federal Trade Commission (FTC), there were more than 650,000 victims of identity theft in 2019, making ID theft the most-reported type of FTC ...
In 2012, identity theft was blamed for $4 billion of fraudulent tax refunds by the Internal Revenue Service (IRS) [8] and 770,000 taxpayers have been the victims of tax identity theft by 2013. [9] A public-private initiative by the IRS and employers in 2016 resulted in a 50% drop in incidents of taxpayer identity theft reports. [10]
Child identity theft is fairly common, and studies have shown that the problem is growing. The largest study on child identity theft, as reported by Richard Power of the Carnegie Mellon Cylab with data supplied by AllClear ID, found that of 40,000 children, 10.2% were victims of identity theft. [21]
About 13 million people in the U.S. were the victim of identity theft in 2019, according to a 2020 identity fraud survey from research-based advisory company Javelin. Overall, identity theft cost ...
Total fraud and identity theft cases have nearly tripled over the last decade. As a result, an estimated $10.2 billion in total fraud losses with a median loss of about $500 for fraud victims.
Identity theft is the unauthorized use of another's personal or financial information to defraud an individual or entity into obtaining goods or services. The term 'personal or financial information,' typically refers to a person's name, address, credit card, bank account number, Social Security number, or medical insurance account number.
As the business world continues to turn increasingly digital, consumers and businesses have no choice but to adapt how they conduct financial transactions (and disclose personal information,...
Conducting a background check on yourself isn't always necessary if you're concerned about identity theft, but there are situations when it can be a good idea. Identity theft has been rampant ...
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