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 If you don't think identity theft is something you need to worry about, consider this - recently published statistics on identity theft indicate that nearly 4% of the American adult population claimed to be a victim of identity theft in 2005. Furthermore, one study indicates that the average amount of money obtained by the thief was nearly $1,700.
In this publication, we're going to summarize some of the identity theft information gathered via surveys by the Federal Trade Commission as well the Bureau of Justice Statistics. We're also going to review some of the complaint data gathered by a wide variety of organizations throughout the United States. In taking this approach, we're presenting statistics based on both identity theft questions asked of the public though surveys, as well information on theft reported by the public.
Identity Theft Surveys
All three reports referenced in this document were based on information gathered in 2005 and 2006. This data was subsequently analyzed and summarized into reports published in January 2006 and November 2007 (two reports). Specifically, we're going to reference:
- Special Report - Identity Theft 2005 as reported by the Bureau of Justice Statistics (November 2007)
- Consumer Fraud and Identity Theft Complaint Data published by the Federal Trade Commission (January 2006)
- The 2006 Identity Theft Survey Report conducted by the Federal Trade Commission (November 2007)
Overall Findings of Reports
We're going to start out by summarizing some the high-level statistics found in these government reports. In each of the three subsequent sections of this document, we'll discuss some of the more detailed findings that are unique to each report.
Two of these surveys were based on a statistically representative sample of the United States population. This means the findings of these surveys can be reasonably extrapolated to the entire U.S. population. Some of the more compelling information gathered via these surveys include:
- Approximately 3.7% of the U.S. adult population, or 8.7 million adults, were victims of identity theft in 2005.
- The median value of goods and services obtained by identity thieves was $500, while 10% of the population experienced a theft of $6,000 or more.
- Credit card fraud was the single most common form of identity theft reported by victims (26% of reported cases).
- Discovering missing money from an account / noticing unfamiliar charges was the most common way adults recognized they had been victims of identity theft (30.8% of cases).
- Individuals age 18-29 lead the way in the reporting of identity theft (29% of cases).
2006 Identity Theft Survey
The survey methodology used in this report included calling households using randomly generated telephone numbers. Those telephone numbers were then divided into eight geographic regions so that a statistically representative sample was achieved for the entire United States.
The results of this survey were based on nearly 5,000 completed telephone interviews. Findings of this survey include:
- Prevalence of ID Theft - 3.7% of the survey participants indicated that they had discovered they were victims of ID theft in 2005. This translates into approximately 8.3 million U.S. adults.
- 1.5% of survey participants, which translates into 3.3 million U.S. adults, reported the misuse of information involved one or more of their existing accounts such as checking, savings, or telephone.
- 1.4% of survey participants, which translates into 3.2 million U.S. adults, reported that the misuse of their information was limited to one or more of their existing credit cards.
- 0.8% of survey participants, which translates into 1.8 million U.S. adults, reported that their personal information was used to open new accounts or to engage in fraud.
- Financial Value of Theft - the median value of goods and services obtained by identity thieves was $500. Ten percent of victims reported that the thief obtained $6,000 or more and 5% reported that the thief obtained $13,000 or more.
Fraud and ID Theft Complaints
During the calendar year 2005, the FTC's Consumer Sentinel database recorded over 685,000 cases of consumer fraud and identity theft. This database is populated by over 150 organizations and is made available to law enforcement officials throughout the nation. Information extracted from that database indicates:
- Types of Identity Theft - credit card fraud (26%) was the single most common form of identity theft reported, followed by phone or utilities fraud (18%), bank fraud (17%), and employment fraud (12%).
- Credit Card Fraud - in the case of credit card fraud, nearly 58% of the reported cases involved the opening of new accounts, while 42% involved existing accounts.
- Age of Identity Theft Victims - the age of the victims reporting theft of their identity was as follows - under 18 (5%), 18-29 (29%), 30-39 (24%), 40-49 (20%), 50-59 (13%) and over 60 years of age (9%).
- Rates of Identity Theft - the states with the highest rate of identity theft include Arizona, Nevada, California, Texas, Colorado, Florida, Washington, New York, Georgia, and Illinois. While the states with the lowest reported rate of identity theft include North Dakota, South Dakota, Vermont, Iowa, Maine, West Virginia, Montana, Kentucky, Wyoming, and New Hampshire.
Identity Theft 2005
This third and final survey was assembled from telephone interviews conducted in the year 2005. Sample size was sufficient to insure commentary that included terms such as "higher" or "lower" passed a statistical test such that a 95% confidence level was achieved.
- Income Levels of Victims - approximately 10% of households with incomes of $75,000 or more experienced identity theft, which was roughly twice the rate when compared to households earning less than $50,000.
- Discovering Identity Theft - the most common means of identifying identity theft were:
- Noticed missing money / unfamiliar charges on account (30.8%)
- Contacted about late / unpaid bills (20.6%)
- Banking problems (13.1%)
- Noticed a credit report error (5.6%)
- Noticed missing credit card / checkbook (5.3%)
- Account blocked by issuer (4.3%)
- Other ways (29.6%)
About the Author - Identity Theft Statistics
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