How Prevalent is Identity Theft Today?

Unless you have spent the past decade living in a cave, you have heard about identity theft.  You may be wondering how common an occurrence identity theft is in this day and age.  In that regard, you may be interested in reviewing some statistics regarding the extent of identity theft or ID theft today.  By considering the reporting of identity theft statistics, you will have a better idea of how commonplace this crime has now become.

One in Ten -- A Percentage to Remember

Perhaps one of the most surprising statistics associated with identity theft in this day and age is this one:  You -- yes, you -- have a remarkable one in ten chance of falling victim to identity theft this year.  In the United States, for example, as well as in many other countries around the world, one in ten people fall victim to identity theft each and every year.

While this statistic alone is startling, you must also keep in mind that many experts predict that this estimate of the frequency of the incidence of identity theft will rise -- yes, rise -- over the course of the coming five or six years.  Some of these analysts are even predicting that the incidence of identity theft in countries including the United States will rise to two in ten in the coming few years. 

Lost Time Due to Identity Theft

Another telling statistic involves the amount of time that a typical person spends in cleaning up his or her financial house after becoming the victim of identity theft.  The typical identity theft victim can expect to spend an average of 600 hours recovering from the crime of identity theft.  The amount of time a person has to spend dealing with the aftermath of identity theft is increasing significantly.  Indeed, only five years ago, a person spent 175 hours dealing with the aftermath of identity theft.

Out of Pocket Expenses

Even if a victim of identity theft is able to clear up all of the problems that may have occurred with his or her financial accounts, he or she likely will still be out money that he or she had to spend correcting the problems associated with identity theft.  The average amount of money  that a person has to spend dealing with the aftermath of identity theft in the United States today is on average approximately $1,400.

The Top Ten States -- Identity Theft Occurrences

The top ten states in which the largest number of identity theft crimes are reported each year are:

1. California
2. New York
3. Texas
4. Florida
5. Illinois
6. Pennsylvania
7. Georgia
8. Michigan
9. New Jersey
10. Ohio

Once again, identity theft is a serious crime.  It remains the fastest growing type of crime in many countries around the world.  Therefore, it is important for you to be proactive in regard to protecting yourself against becoming a victim of identity theft.