Debt.com’s annual survey also finds that fewer victims were surprised they were targeted.
Identity theft is the most common crime in the country – so much so that most people aren’t even surprised when they’re victims. To support Identity Theft Awareness Month, Debt.com asked 1,054 American adults about their identity theft experiences and opinions.
About 45 percent of respondents said they’ve been victims of identity theft, compared to 40 percent last year. With identity theft on the rise, victims aren’t nearly as shocked when they realize it’s happened to them. Only 38 percent of survey respondents said they were “surprised to find out they were a target of identity theft” – a huge fall from 84 percent in 2021.
Debt.com president Don Silvestri wonders if the reason for that lack of surprise is related to another survey result: While over 64 percent of respondents said they used identity-theft protection services last year, only 55 percent told Debt.com the same thing this year.
“If you stop using or never used these services, you’re probably aware that you’re an easier target for thieves than those who avail themselves,” Silvestri said. “The real question is: Why are people giving up on these services? Obviously, they feel they’re either not working or aren’t worth the money. That’s where both the private sector and the government need to focus.”
Silvestri also pointed to another interesting fact: While identity theft is happening more often, it’s costing each victim less…
Money lost in 2022:
- $50 to $500: 15 percent
- $500 to $1,000: 8 percent
- $1,000-$2,500: 5 percent
Money lost in 2021:
- $50 to $500: 22 percent
- $500 to $1,000: 21 percent
- $1,000-$2,500: 15 percent
Have you ever been a victim of identity theft?
Were you surprised to find you were a target of identity theft?
Do you currently use a credit monitoring or identity theft protection service?
1 in 10 lost at least $500 to identity theft
Last year, more than 3 in 10 lost at least $500 to identity theft
The survey results show four in ten people have been victims – and for many, it cost up to a thousand dollars to fix.
To support National Identity Theft Prevention and Awareness Month, Debt.com asked Americans if they’ve ever fallen victim to the crime. Despite being the most common crime in the country, those who’ve had their identity stolen were still shocked when they found out.
More than 40 percent of the survey’s respondents said they’ve been a victim of identity theft. Interestingly, of those respondents, 84 percent said they were “surprised to find they were a target of identity theft.” Even further is how much the crime cost them – less than a quarter said they lost $50 to $500.
“We’ve all heard horror stories of people losing everything to these thieves, so losses in the hundreds of dollars is progress,” says Debt.com president Don Silvestri. “Part of that is lenders and creditors becoming much quicker to notice fraud so they can cut it off before it gets out of hand.”
Here’s a full breakdown of how much identity theft cost the respondents:
Cost of identity theft:
- 22% lost $50 – $500
- 21% lost $500 – $1,000
- 15% lost $1,000 – $2,500
- 11% lost $2,500 – $5,500
Debt and identity theft:
- 17% took up to $250 in debt
- 17% took between $250-$500
- 14% took on $500 or more
One positive result from the survey: most (64 percent) protect themselves with a credit monitoring service or similar. Find out the biggest takeaways from the research in the charts below.
Have you ever been a victim of identity theft?
If yes, how much money did this theft cost you?
Did your identity theft cause you to go into debt?
If yes, how much debt did you take on due to identity theft?
What type of identity theft did you suffer from?
Were you surprised to find you were a target of identity theft?
Has identity theft had a negative impact on your credit score?
If yes, how much did your credit score drop because of your identity theft?
Do you currently use a credit monitoring or identity theft protection service?
| Have you ever been a victim of identity theft? | Yes | No |
|---|---|---|
| Percentage of respondents | 40.81% | 59.19% |
| If yes, how much money did this theft cost you, in both money lost and money spent fixing the problem? | Percentage of respondents |
|---|---|
| $0-$50 | 18.5% |
| $50-$500 | 21.99% |
| $500-$1,000 | 20.77% |
| $1,000-$2,500 | 14.83% |
| $2,500-$4,000 | 7.33% |
| $4,000-$5,500 | 3.84% |
| $5,500-$7,000 | 1.4% |
| $7,000 or more | 3.84% |
| N/A | 7.5% |
| Did your identity theft cause you to go into debt? | Yes | No |
|---|---|---|
| Percentage of respondents | 31.59% | 68.41% |
| If yes, how much debt did you take on due to identity theft? | Percentage of respondents |
|---|---|
| $0-$250 | 17.45% |
| $250-$500 | 17.28% |
| $500 or more | 14.14% |
| N/A | 51.13% |
| What type of identity theft did you suffer from? | Percentage of respondents |
|---|---|
| Bank fraud | 18.5% |
| Credit card fraud | 21.99% |
| Loan fraud | 20.77% |
| Phone fraud | 14.83% |
| Phishing scam | 7.33% |
| Tax fraud | 3.84% |
| Other | 1.4% |
| N/A | 3.84% |
| Were you surprised to find you were a target of identity theft? | Yes | No |
|---|---|---|
| Percentage of respondents | 83.77% | 16.23% |
| Has identity theft had a negative impact on your credit score? | Yes | No |
|---|---|---|
| Percentage of respondents | 38.57% | 61.43% |
| If yes, how much did your credit score drop because of your identity theft? | Percentage of respondents |
|---|---|
| Not at all | 56.72% |
| 10-20 point drop | 12.39% |
| 21-50 point drop | 13.79% |
| 51-100 point drop | 8.90% |
| 101-200 point drop | 3.84% |
| My credit score dropped more than 200 points | 4.36% |
| Do you currently use a credit monitoring or identity theft protection service? | Yes | No |
|---|---|---|
| Percentage of respondents | 63.53% | 36.47% |
Methodology: Debt.com surveyed 1,414 people and asked nine questions related to identity theft. People responded from all 50 states and Washington, DC and were aged 18 and above. Responses were collected through SurveyMonkey. The survey was conducted from Nov. 17, 2021 to Dec. 6, 2021. Percentages were rounded up to the nearest whole number and might not total 100 percent.
Methodology: Debt.com surveyed 1,054 people and asked 10 questions related to identity theft. People responded from all 50 states and Washington, DC and were aged 18 and above. Responses were collected through SurveyMonkey. The survey was conducted from Dec.7, 2022 to Dec. 8, 2022. Percentages were rounded up to the nearest whole number and might not total 100 percent.