Identity Theft Up, But Costs Fall Sharply

The number of Americans victimized by identity theft is on the rise.But at the same time, victims are striking back quicker and limiting how much is stolen.

By: Associated Press | WSAV News 3
Published: February 09, 2009

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A study released by Javelin Strategy and Research says the
number of reported identity theft cases jumped 22 percent last
year, to 9.9 million. But it also says the cost per incident,
including unrecovered losses and legal fees, fell 31 percent, to
less than $500.
One reason for the spike in cases is likely the worsening
economy. A Javelin spokesman says "criminals are getting more
desperate."
The survey says almost half of the cases are linked to stolen
wallets, while only 11 percent of the victims had their identities
stolen over the Internet. Women are 26 percent more likely to be
victims of identity theft.