More than 11 million Americans fell victim to identity thieves in 2009, at a cost of $54 Billion to consumers and businesses.
A new study from Javelin Strategy and Research found that more than 11 million adults in the U.S. were victims of identity theft and fraud in 2009, according to financial services researcher Javelin Strategy & Research. This represents a 12% increase in new identity theft incidents at a cost of more than $54 billion to consumers and businesses. Experts predict that this trend is likely to continue throughout 2010 and beyond.
On a somewhat more optimistic note, the study does indicate that consumers and businesses seem to be doing a much better job of responding to identity theft crime when it does take place. The average time that it took to resolve a case of identity fraud dropped 30 percent last year and nearly half of all identity theft victims are taking the time to file criminal reports with the FTC, law enforcement and creditors.