Every 3 Seconds, someone becomes a victim of identity theft. If you haven’t had your identity stolen, you probably know someone who has. Identity theft occurs when someone steals your personal information and uses it without your knowledge to commit fraud or other crimes. It’s a growing problem, affecting 11.1 million adults in the United States just last year, according to a survey by Javelin Strategy & Research.
Identity theft is the fastest growing crime in the U.S. It has been listed as the #1 consumer complaint for 12 consecutive years. The crime can be devastating, and is often costly and time-consuming to resolve. According to the Federal Trade Commission:
- Consumers suffered total fraud losses of $18 billion in 2013.
- Consumer out-of-pocket costs averaged $400 per victim, with the average victim suffering a loss of $2,294.
- Total time spent to resolve cases averaged more than 11 hours per victim.