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Identity Theft in America Video

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Explore our picks of the best brokerage accounts for beginners for November Before you apply for a personal loan, here's what you need to know. Published in: Research April 13, Considering the kind of damage that identity theft and credit Idsntity fraud can do to your click, many consumers want to know just how prevalent these crimes are. Is identity theft becoming more common as criminals get more sophisticated, or are better security measures making it more difficult?

Which demographics are at the biggest risk of financial fraud? And how much Identity Theft in America an impact do data breaches have?

Key findings

To find out, we've reviewed the data to understand the trends on identity theft, credit card fraud, and data breaches. Before we begin, let's clarify the difference between fraud and identity theft. Fraud is any sort of criminal deception intended for personal or financial gain.

Identity theft involves using someone else's personal information for fraudulent purposes. Therefore, identity theft is one of many different types of fraud. Of the more than 3.

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It had more thanmore identity theft reports thanwhich previously had been the year to hold this dubious record. This marks the second year in a row that identity theft reports have increased significantly. From tothe number of reports increased by From tothere was a staggering Why is identity theft rising so rapidly? Data breaches play a major role.

Identity theft in the United States

The Equifax data breach that lasted from May to July exposed the sensitive personal information of approximately million U. And the Capital One data breach affected approximately million U. These kinds of data breaches contribute to both Thedt theft and credit card fraud. We'll come back to this later, but first let's look at how identity theft impacts different parts of society.]