New Breed of Identity Thief Breaks Records in 2017Identity Theft
Despite aggressive efforts throughout the industry to prevent identity fraud, almost 1 million more consumers were victims of ID theft in 2017 than in 2016 – hitting an all-time high of 16.7 million and financial losses topping $16.8 billion, according to the Javelin Strategy & Research 2018 Identity Fraud Study.
But perhaps the most alarming find to come from this study is the increasing adaptability – and complexity – with which this new breed of identity thief operates. These sophisticated criminals are adept at adjusting strategies and innovating tactics to stay one step ahead.
And given the amount of valid personal information fraudsters now have on millions of Americans, the probability of increasingly complex and widespread attacks is high.