Yes, identity fraud is SO common that someone becomes a victim every two seconds. The 2014 Identity Fraud Study, as reported on javelinstrategy.com, turned up some alarming results.
Though the dollar amount stolen had decreased over the year preceding the study, the number of victims had increased. People at highest risk were ages 35 to 44.
Account takeover—when the thief takes over a pre-existing account—made up 28 percent of ID fraud losses in 2013. But the greatest risk factor for becoming a victim of identity fraud is the data breach. In that year, 30 percent of people who were notified of a data breach became an ID fraud victim.
Identity fraud is associated with credit cards, but this type of crime can also involve hijacking someone’s PayPal account, or account on Amazon and eBay.
How to Protect Yourself
Javelin Strategy & Research, who conducted the study, recommends the following:
If you receive notification of a data breach, you’re at higher risk for fraud; crack down on monitoring your accounts.
Robert Siciliano is an identity theft expert to BestIDTheftCompanys.com discussing identity theft prevention.