Week 9 CIS608 - Identity Theft on the Decline?

Is identity theft on the decline?  Actually, the simple card theft which leads to identity theft is on the decline.  The bad news is that a more sophisticated identity theft of opening loan and accounts is on the rise.

Overall identity fraud did decrease, but the costs associated increased 63 percent last year, from $387 in 2009 to $631 per incident in 2010.

Another trend on the increase is Friendly Fraud in which the perpetrator was a roommate; friend or family member knew the victim in their attack.

Another trend to note was that people who received a letter concerning a data breach were six to seven times more likely to be victims.  This goes to show that even though the organization involved in the data breach has taken action to prevent the action in the future, that individuals, whose personal information was stolen, also need to take measures their data is safe in the future.

Identity theft is not to be taken lightly.  With the trends discussed above, the costs to reclaim your identity are on the rise making it more than ever a time to be diligent on the information you disclose.

http://www.darkreading.com/authentication/167901072/security/privacy/229203938/incidence-of-identity-fraud-down-but-consumer-costs-on-the-rise-study-says.html