Identity Theft Statistics & FAQ
Numbers that Tell the Story
In order to get a clearer picture of the size of the identity theft epidemic in the United States, you should take a look at some of the statistics compiled by the FBI on the matter. If you know thirty people in your life (and you probably do), then the odds are that one of them has been a victim of identity theft (whether they know it yet or not). Here are a few more statistics on the scope of this crime:
- How many people have their identity stolen each year? In 2008 it was just under 10 million Americans and climbing each year.
- How much is stolen by identity thieves each year?The total losses by identity theft victims in 2008 totaled more than 52 billion dollars.
- Where is identity theft most prevalent? Arizona held the dubious record of having the most victims of identity theft - most of that being employment identity theft. Nevada, California, Texas and Florida rounded out the top five on the list while Vermont was the lowest with only 178 victims reported.
- What's the most common type of identity theft? More than 50% of all identity theft victims had their credit cards taken over by identity thieves. A much smaller percentage had new credit cards opened in their name, but the losses still totaled more than $35 billion dollars.
- How long does it take to discover when an identity has been stolen? Nearly half of victims discover identity theft within three months of it happening. Usually victims do not learn about the crime until a year or more after it has happened.
- How much does it cost to recover from identity theft? People who have had their identities stolen will spend up to 6,000 hours repairing the damage that was done by thief. The average is 300 hours over 6 months or more, costing an average of more than $5,000 in lost wages and an additional $1,000 in out of pocket expenses.
- Who commits identity theft? In most cases of identity theft, the victim knows the thief, be they a parent or a friend.
Frequently Asked Questions about The Identity Theft Guide
How much does it cost to get a referral through this site?
Nothing at all. No fees are charged and no added expense will be added to a quote you receive from our vendors as a result of receiving a quote through this site.
Is my information secure?
Yes, we do not sell your information to other parties, and all information sent through this site is encrypted to protect it from prying eyes.
How do identity theft protection services work?
Most services will work by closely monitoring your credit reports and bank accounts for any sign of activity that is out of the norm such as a sudden-spike in spending, or applications for credit. As soon as this activity is detected, a hold is placed and you will be contacted in order to verify whether it is you causing it or someone else.
