Wednesday, March 07, 2007

Identity Theft: Waxing or Waning?

The Gartner Group just released a report claiming that identity theft is up sharply since 2003, both in volume and in the amount of loss.

Gartner's survey of 5,000 online U.S. adults in August 2006 showed that the rate of identity theft has jumped by 50% since 2003 when the Federal Trade Commission reported that 9.9 million Americans had been victimized. The average loss was $3,257 in 2006, up from $1,408 in 2005.

Unauthorized charges to credit cards rose nearly fourfold from an average of $734 in 2005 to $2,550 in 2006, Gartner reports. These numbers go along with a trend cited by various U.S. credit card issuers that reported large increases in counterfeit card fraud last year. Similarly, there were large increases in checking account transfer fraud and "other" non-categorized types of fraud, such as scams exploiting eBay, PayPal and phone companies. |Info Week|

However, this contrasts sharply with another recent report by the Javelin Group claiming that identity theft is diminishing.

C'e la vie...

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