According to the 2015 Identity Fraud Survey by Javelin Study, there were 12.7 million victims of Identity Theft in the United States in 2014. While this represents a slight decline in victims, it is still the most common complaint to the FTC for the 15th consecutive year.
Al Pascual, Director of Fraud and Security at Javelin, cautions:
“The occurrence of identity fraud hasn’t changed much over the past year, and it is still a significant problem.”
While the percentage of Americans victimized has decreased only nominally, there is some good news. Increased vigilance by financial institutions has resulted in a significant drop in the amount of money identity thieves were able to steal. Losses have decresed 11% from $18 billion in 2013 to $16 billion in 2014.
“The combined efforts of industry, consumers, and monitoring and protection systems are catching fraud more quickly.”
To significantly impact the incidence of identity theft, consumers are going to need to take preventative measures: Increased vigilance is key!