However, counterfeit card fraud fell 75% after EMV card rollouts. Prior to EMV chip cards, credit card fraud was the single-largest source of identity fraud losses. EMV chip credit cards helped to reduce some fraudĮMV chip adoption in the US was slow, but by Q2 of 2021, around 88% of merchants had POS systems in place to accept the chips (up from 67% in 2020), while every major card issuer had already switched to delivering cards with EMV chips. The company’s 2020 research on identity fraud reports that 40% of takeovers happen within 24 hours of a criminal’s access to a victim’s account. Javelin Research found that fraudsters are fast in their efforts to take over accounts. 40% of account takeovers happened in just one day According to Kaspersky this number of account take over incidents grew by another 20% in 2020. Account takeovers up 20 percent in 2020Īccount takeovers occur when a criminal gains access to someone’s accounts holding personal information.In 2019, account takeovers were up 72 percent over the previous year. However, it is worth noting that these figures do not necessarily account for all losses since many victims are hesitant to come forward. The total amount of money lost due to identity fraud was also on the rise.Īccording to the FTC, reported losses grew from $1.8 in 2019 to $3.3 billion in 2020 and $5.8 billion in 2021. Identity theft incidents almost doubled between 20. In fact, these accounted for a quarter of all fraud reports that’s 1.4 million seperate incidents. Number of fraud incidents still risingĢ021 saw a three percent increase in the number of identity theft reports versus the year prior. The personal information stolen in data breaches can be used to conduct identity theft. The numbers reveal that contrary to efforts to stem the tide of data theft, thieves are learning new ways to bypass protections, and much of our data is not protected at all. Over 12,000 reported data breaches occurred in the US between 2005 and June 2020, which help contribute to identity fraudĪlongside the 12,098 reported data breaches in the US between 2008 and June 2020, there were over 11 billion records stolen during that time frame. The following identity theft statistics are categorized to help get a better feel for how and why this threat continues to be a problem for consumers, businesses, and governments worldwide. Social security numbers, credit card numbers, and other personal identity factors can be stolen and sold on the dark web, or used by criminals for quick and easy profit. While ransomware gains more attention, identity theft remains much easier to pull off and monetize. Identity theft statistics have taken center stage among the many stats and facts encompassing the entire realm of cybercrime. The FTC reported that over 1 million children were ID theft victims in 2020. While children have long been a target for Social Security Number misuse and credit card fraud, it appears the impact is growing. That security company also found that children are increasingly the victims of identity fraud. In 2021, this trend continued with Americans suffering a total of 56 billion dollars in losses, according to Javelin Strategy. With that fact comes a somewhat obvious result: an increase in identity theft.ĭata theft is big business, and following good news in 2019, when there was a slight drop in ID theft cases, this has unfortunately reversed in recent times – partly due to the effect of the pandemic.Īccording to the FTC, identity fraud incidents increased around 45% in 2020, incurring huge financial losses for American citizens. Each individual consumer’s personal information now resides on hundreds, if not thousands of servers across the globe. To date, we have compiled over 30 identity theft facts, figures, and trends from a wide range of sources and covering a number of different countries.Īs the world continues its relentless march toward all things digital, the reams of data we’re uploading to the web are increasingly exposed. *This list is regularly updated with the latest identity theft statistics for 2019 – 2022 (plus a few earlier stats thrown in).
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