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600 hours
Average time spent by
Id theft victims to recover from the crime. (ITRC Study)
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Identity Theft affected about 9.3
million people in 2004, causing $52.6 billion in losses in the U.S.
alone, according to Javelin Strategy & Research (report in
BusinessWeek - The
Boomig Biz of Id Protection). The losses for 2005 climbed to
$56.6B.
Approximately 85% of victims found
out about the crime due to an adverse situation - denied credit or
employment, notification by police or collection agencies, receipt
of credit cards or bills never ordered, etc, according to ITRC
study. Only 15% found out through a positive action taken by a
business group that verified a submitted application or a reported
change of address.
James Taylor has some suggestions for
companies and individuals, posted to Identity
Theft - some stats and suggestions.
FTC has a dedicated web site on Id
Theft.
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