Identity theft, however, is an entirely different matter, usually involving new accounts opened in your name that may be difficult to track or identify in the first place. Here are the statistics on identity theft:
* “New account” identity theft costs over $25 billion in losses to the victims each year.
* Of the new accounts that get opened by identity thieves, approximately half are credit card accounts, but cell phone accounts, utility accounts, bank accounts and apartment rentals are also important targets for identity thieves.
* Americans between the age of 18-29 are the most likely to be the victims of identity theft.
* In cases where individuals know who stole their identity info, it turns out to be someone they know 50 percent of the time.
* Identity thieves get plenty of lead time: Identity theft victims typically don’t discover their information has been stolen until 12 months after a thief first used it.
* Identity theft victims who detected the crime by monitoring their accounts online had average loses of $551. Identity theft victims who relied on monitoring paper statements had average loses of $4,543.
* Between Feb 2005 and March 2006 more than 55 million Americans were put at risk by security breaches, leaving them vulnerable to identity theft.
