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There’s a New ID Theft Victim Every 2 Seconds

Posted By Eileen Ambrose On February 7, 2014 @ 2:11 pm In Bulletin Today,Money & Savings | Comments Disabled

About the time it takes to read this sentence, another three people have become victims of identity theft [1].

ID fraud [2]A victim is created every two seconds, according to a new survey by Javelin Strategy & Research Study [3].

The California-based research group reported some troublesome statistics:

The number of ID theft victims last year reached 13.1 million, up by more than 500,000 from the previous year. And more than one of four cases involved “account takeover fraud.”

>> Sign up for the AARP Money newsletter [4]

And what are thieves doing with other people’s identities? They increasingly use the information to go shopping via eBay, Amazon and PayPal, Javelin says.

One bright note: Consumers, retailers and financial institutions are getting better at fighting the theft [5], Javelin says. Thieves made away with $18 billion last year – $3 billion less than the year before.

“Consumers and businesses cannot let up the effort,” Al Pascual, a senior analyst with Javelin said in a statement. “Our study found that criminals are adapting their approach to focus on account takeover and they are effective at using the information they secure from data breaches. Any complacency will provide fraudsters renewed opportunities.”

Photo: AlexSkopje/iStockphoto [6]

>> Get discounts on financial services with your AARP Member Advantages. [7]

AARP Fraud Watch Network [8]

 

 

 

 

 

Also of Interest

 

See the AARP home page [13] for deals, savings tips, trivia and more

 


Article printed from AARP: http://blog.aarp.org

URL to article: http://blog.aarp.org/2014/02/07/theres-a-new-id-theft-victim-every-2-seconds/

URLs in this post:

[1] identity theft: http://blog.aarp.org/2013/12/27/cyber-scam-predictions-for-2014/?intcmp=AE-BLIL-BL

[2] Image: http://blog.aarp.org/wp-content/uploads/2014/02/iStock_000020016001Medium.jpg

[3] Javelin Strategy & Research Study: https://www.javelinstrategy.com/brochure/314

[4] >> Sign up for the AARP Money newsletter: http://www.aarp.org/online-community/people/subscribeFromEmail.action?id=29636&intcmp=ILC-EMAIL-SUB-MONY

[5] fighting the theft: http://www.aarp.org/money/scams-fraud/info-09-2013/prevent-identity-theft.html?intcmp=AE-BLIL-DOTORG

[6] AlexSkopje/iStockphoto: http://www.istockphoto.com/user_view.php?id=4269741

[7] >> Get discounts on financial services with your AARP Member Advantages.: http://www.aarpfinancial.com/content/aarpfinancial/home.html?intcmp=AE-BL-MON-DISC

[8] Image: http://www.aarp.org/money/scams-fraud/fraud-watch-network/?cmp=RDRCT-FRDWCHNET_SEPT17_013

[9] 1-Click Tricks in Valentine’s Day Scams: http://blog.aarp.org/2014/02/07/1-click-tricks-in-valentines-day-scams/?intcmp=AE-ENDART1-BL-REL

[10] Expired or Unused Medications and 8 Other Nasty Things to Throw Away Today: http://www.aarp.org/health/healthy-living/info-04-2013/9-nasty-things-to-throw-away-photos.html#slide1?intcmp=AE-ENDART2-BL-BOS

[11] Get free assistance with tax-return preparation from Tax-Aide: http://www.aarp.org/money/taxes/aarp_taxaide/?intcmp=AE-ENDART3-BL-ADV

[12] Join AARP: https://appsec.aarp.org/MSS/join/application?keycode=U9ZTPH9&intcmp=AE-ENDART3-BL-MEM

[13] AARP home page: http://www.aarp.org/?intcmp=AE-ENDART3-BL-HP

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