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Identity Theft: The Aftermath 2003

A comprehensive study – to understand the impact of identity theft on known victims as well as recommendations for reform

Conducted by the Identity Theft Resource Center, Summer 2003

Excerpt:
"Study highlights include:

  • Fraudulent charges now average more than $90,000 per name used.
  • Nearly 85% of all victims find out about their identity theft case in a negative manner. Only 15% of victims find out due to a proactive action taken by a business.
  • The average time spent by victims is about 600 hours, an increase of more than 247% over previous studies.
  • While victims are finding out about their cases earlier, it is taking far longer now than before to eliminate negative information from credit reports.
  • A large majority of respondents indicates the opening of a credit card (73%) or takeover of a card account (27%) to be among crimes committed.
  • The emotional impact of identity theft has been found to parallel that of victims of violent crime.
  • The responsiveness toward victims by the various entities with which they must interact continues to be lacking in sensitivity in most cases and has not improved since studies released in 2000 (Nowhere to Turn)."

[FULL ARTICLE]

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Posted on February 27, 2004 at 09:38 PM | Permalink

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