“At a time when your good name and credit are used to judge you as never before, from whether you’ll get the next job to the rates you’ll pay for insurance policies, your good name and credit have never been more at risk” (Consumer Reports, October 2003)

The September 2003, Federal Trade Commission report on identity theft shows an alarming increase in number of occurrences and variety of theft. The simplest form of identity theft, a stolen credit card number, still has the highest level of incidence, however criminals are getting much more sophisticated when using another’s identity to the point where they are committing felony and misdemeanor crimes and giving law enforcement officers another persons name and date of birth.

Highlights of the Federal Trade Commission report are as follows:

Incidence of Identity Theft

• In the past 5 years 12.7% of the US adult population has been a victim of identity theft
• In the past year 9.9 million people had been a victim of identity theft with losses of $47.6 billion

Benefits of Quick Discovery

• Identity theft discovered within 5 months personal loss was less than $5000
• Identity theft discovered after 5 months the personal loss was greater than $5000

How Identity was Obtained

• Information was lost or stolen in 22% of cases
• Obtained during a transaction (receipt, internet, phone) in 13% of cases
• Do not know how information was obtained in 65% of cases

Highest rate of Identity Theft by State - Top 10

1. Arizona
2. Nevada
3. California
4. Texas
5. Florida
6. New York
7. Oregon
8. Colorado
9. Illinois
10. Washington

“Many victims don’t learn of the identity crime for a year or more, only after something goes terribly wrong, because thieves can shield their actions by using a different address when opening new accounts in the victims name.” (Consumer Report, October 2003)