Is Identity Theft Increasing Or Decreasing?

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According to this recent post there is an increase of Identity Theft. As the post notes,

Rena Mears, Partner in the auditing firm of Deloitte & Touche was the keynote speaker at the Governors conference and in her remarks she indicated that Deloitte’s estimate of identity theft crimes for this period was in excess of 15,000,000 victims in 12 months. In addition she commented that the financial impact of identity theft crimes had doubled in the pas 12 months. In other words the amount of money stolen or defrauded had increased significantly. She also noted that victim recovery (the ability to recover the financial loss – but not the loss of time and effort) had dropped from 87% in 2005 to 61% in 2006.

The bottom line – there are statistics on both sides showing the crime is increasing or decreasing. All of this is little comfort, however, to those who are victims.
In a day or so we will have a post devoted to “fighting back” against Identity Theft by suing the responsible parties. While we don’t know if the numbers are increasing (which we believe) or decreasing, what is of comfort is that there are options to receive compensation for our losses from the responsible parties.

5-14-07 Update – click here for a recent post on how victims can fight back under state and federal law.

Another resource for you is to join our Facebook Fan Page – Alabama Consumer Protection Attorneys where we share useful information about the same types of issues that we cover in this blog.

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