Identity Theft Losses Declining

by Erin McCune on February 2, 2007

in Payments News, Research Round Up

Losses from identity fraud are down 11.5 percent since last year according to a new study by Javelin Strategy and Research.

“Businesses are doing a better job screening, and consumers are doing better at locking up information and monitoring their accounts,” said James Van Dyke, founder and president of Pleasanton, California-based Javelin, in an interview. “The dollar amount is dropping,” he added, “but $49 billion is still a lot of money.”

According to the study, 8.4 million adult Americans, or one in 27, learned last year that criminals committed fraud with personal data such as credit card or Social Security numbers. That’s down from 8.9 million in 2005 and 10.1 million in 2003.

Reuters Article
Javelin Strategy & Research blog

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