The crime of identity theft occurs whenever a person fraudulently utilizes another individual’s personal information for their own benefit. Criminals are able to take a single stolen identity and use it repeatedly to…
- Open new credit accounts
- Hijack existing benefit and healthcare accounts
- Empty bank accounts
- Apply for jobs and tax benefits
- Use as an alias when committing other crimes
The problem is growing
- In 2012, 12.6 million adults were victims of identity fraud, up from 11.6 million in 2011.
- Identity fraud cost Americans $20.9 billion.
- Victims lost an average of $1,513 to identity fraud.
- Victims spent an average of $6,400 in money and time to resolve their cases
- 47% of ID theft victims encounter credit problems as a result of the incident
- The time and energy required to recover from an ID theft event cannot be quantified for those impacted!