Establishing Digital Trust: Don't Sacrifice Security for Convenience
According to the results of Javelin Strategy & Research's 2014 Identity Fraud Study, there were a total of 13.1 million identity fraud victims in 2013, or one victim every two seconds (h/t Dark Reading).
That's an increase of more than 500,000 fraud victims over the previous year, and the second-highest number since the study was launched in 2006 -- in 2009, the study reported 13.9 million identity fraud victims.
Notably, one in three people who received a data breach notification in 2013 became a victim of identity fraud, up from one in four in 2012.
According to Javelin, account takeover fraud accounted for 28 percent of all identity fraud in 2013, and fraudsters increasingly leveraged stolen information to make purchases via eBay, Amazon and PayPal.https://o1.qnsr.com/log/p.gif?;n=203;c=204650394;s=9477;x=7936;f=201801171506010;u=j;z=TIMESTAMP;a=20392931;e=i
Still, the total amount stolen decreased by $3 billion in 2013 to $18 billion, thanks to more aggressive actions by financial institutions, identity theft protection providers and consumers.
"There were significant strides forward in 2013 in the fight against identity fraud," Javelin senior analyst Al Pascual said in a statement. "Even though the incidence of fraud increased, the amount stolen significantly decreased. Consumers and businesses cannot let up the effort. Our study found that criminals are adapting their approach to focus on account takeover and they are effective at using the information they secure from data breaches."