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Identity Crisis. Identity theft has become common in the United States. The Federal Trade Commission got 1.4 million reports of it last year as the pandemic worsened the trend.Incidents in 2019 ...
A well-known example of this was the massive Equifax data breach in 2017 that affected 147 ... That’s not often the case for identity theft, according to Identity Theft Resource Center CEO Eva ...
Private records of 147.9 million Americans along with 15.2 million British citizens and about 19,000 Canadian citizens were compromised in the breach, making it one of the largest cybercrimes related to identity theft. Equifax discovered the breach end of July, but did not disclose it to the public until September 2017.
Victims of identity theft see an average direct loss of $1,100, per CNBC, though some cases may see numbers much higher than that. The financial impact isn’t the only cost of this crime , though.
A variation of identity theft that has recently become more common is synthetic identity theft, in which identities are completely or partially fabricated. [15] The most common technique involves combining a real social security number with a name and birthdate other than the ones that are simply associated with the number.
The Identity Theft Resource Center said there were 662 data breaches in the United States in 2010, almost a 33% increase from the previous year. [19] Between January, 2015 and September, 2017, the Identity Theft Resource Center estimates that there were 7,920 breaches affecting more than one billion records that could lead to identity theft. [18]
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.
One case of identity theft was the 2011 hacking of the PlayStation Network, when personal and credit card information of 77 million accounts were stolen. The unauthorized use of a stolen credit card is commonly not considered identity fraud, but may be considered consumer fraud. The use of fake names, ID cards, falsified or forged documents ...