Identity Theft Statistics

Know your risk and assess the potential impact of ID theft.

Identity theft is a big problem in the financial world and ever-increasing technology advancements that make finance more convenient are also only making it easier for thieves to steal your personal information or credit data. And unfortunately it’s usually up to the consumer to protect themselves from theft.

The statistics below are gathered from around the web to provide a big-picture look at ID theft in the U.S. today. This will help you assess your risk of identity theft so you can take practical steps to protect your data. If you have questions or need help monitoring your credit to avoid identity theft, call us at  1-800-810-0989.

Potential for theft [1]

  • 7.5% of all U.S. household have experienced some form of ID theft [1]
  • There are 12,157,400 victims of theft each year, on average [1]
  • 34.2 million people over age 16 have experienced some type of fraud in the past [2]

The following statistics provide a look at risk levels using the demographics of the head of household that reported theft:

Risk for theft by gender: [2]

  • Men: 6.6%
  • Women: 6.9%

Risk for theft by age: [1]

  • Highest risk for 18-24: 8.5%
  • 25-34: 7.6%
  • 35-39: 7.9%
  • 50-64: 7.3%
  • 65+: 4.3%

Risk by race/origin: [2]

  • White, Non-Hispanic: 7.3%
  • Black, Non-Hispanic: 5.0%
  • Hispanic: 5.2%
  • Other: 6.4%
  • Two or more races: 9.0%

Risk for theft by income: [1]

  • Highest risk for $75,000+: 12.3 %
  • $50,000 – $74,999: 7.9 %
  • $35,000 – $49,999: 6.6%
  • $25,000 – $34,999: 6.0 %
  • $15,000 – $24,999: 4.6 %
  • $7,500 – $14,999: 4.8%
  • Less than $7,500: 5.3%

Risk by state: [1]

  • State with the highest risk: Arizona – 149 victims per 100,000 residents
  • State with the lowest risk: South Dakota – 33.8 victims per 100,000 residents

Most common threats for theft

  • Most common type of fraud is “misuse of an existing credit card” – 64.1% [1]
  • “Misuse of existing bank account” – 35% [1]
  • “Misuse of personal information” – 14.2% [1]
  • 4 out of 5 victims don’t know how their information was obtained [3]

The hidden danger…

  • Half of ID theft crimes remain unnoticed for at least one month [3]
  • 1 out of 10 crimes remains hidden for 2 or more years [3]

Financial impact of theft

  • Total financial loss from ID theft in 2014: $26,350,000,000 [1]
  • Average financial loss per incident: $5,130 [1]
  • 14% of victims suffered out-of-pocket losses of $1 or more – but half of those suffered losses of less than $100 [2]
  • However the average loss for those who experienced losses of at least $1 is $1,769 [2]
  • 22% of victims experienced multiple incidents of identity theft [2]
  • The mean and median losses for ID theft ($2,183 / $300) are higher than for a physical property crime ($915 / $150) [2]

Beyond finance:

  • 29% of victims spend a month or more resolving the problems [2]
  • Although over half resolved any issues within a day [2]
  • 36% of victims reported moderate to severe emotional distress as a result of the incident

Sources:

[1] http://www.statisticbrain.com/identity-theft-fraud-statistics/

[2] http://www.bjs.gov/content/pub/pdf/vit12.pdf

[3] http://www.bostonfed.org/consumer/identity/