2009 Identity Theft Statistics

Statistics can be dry but these figures could prompt you to zealously guard your most valuable asset, your identity. According to Javelin Strategy and Research, Identity Fraud continues to rise, but mean customer costs and resolution time have decreased. In their latest 2010 Identity Fraud Survey Report they found that Identity fraud has risen to 11.1 MILLION US victims, which is up 12% from 9.9 MILLION in 2008. That is a significant climb.

4.81 % of the US population is a victim of Identity Fraud.

The total fraud amount in 2009 reached 54 BILLION dollars, which is up from 48 BILLION dollars in 2008.

Consumers who monitor their accounts electronically have shorter detection times and their consumer costs are over 50% less.

Social Security Number thefts remain the top breached data and one of the most difficult frauds to detect.

The risk of Identity Theft through social networking has nearly doubled in the last year.

Small Business owners suffer from Identity Fraud at one-and-a-half times the rate of all other adults.

What Can we learn from these new statistics?

To prevent identity theft, it’s imperative that you think critically about what you share freely over the internet and through social networking sites. What you post is permanent, public, and exploitable. Also, remember that early detection of Identity fraud is key to a swift recovery. Electronically monitor your accounts and be aware of what is on your credit report.

Identity Fraud is at its highest peak in the past 6 years. Consumer costs have lowered significantly in the past year because more and more financial institutions are absorbing the cost to limit the impact on their customers; however, those costs may be later passed on to the customers through higher fees. Some attribute this rise to the struggling economy combined with sophisticated criminals who are constantly designing new weapons of attack. Whatever the reason may be, there is no time like the present to protect and defend yourself from Identity Theft and Corporate Data Breach.

John Sileo became one of America’s leading Social Networking Speakers and sought-after Identity Theft Experts after he lost his business and more than $300,000 to identity theft and data breach. His clients include the Department of Defense, Pfizer and the FDIC. To learn more about having him speak at your next meeting or conference, contact him by email or on 800.258.8076.

Posted by Identity Theft Speaker John Sileo in Identity Theft Prevention and tagged Identity Fraud, identity theft expert, Identity Theft Statistics, John Sileo, social networking, Social Networking Speaker.