IDENTITY THEFT – A Profound Effect on People’s Lives

All crime victimizes people. Burglaries deprive homeowners and businesses of possessions that can be essential to their livelihood or business. Car theft deprives a car owner of transportation that may be essential to go to work. Domestic violence can take away the freedom of a survivor or even endanger her life.

The Identity Theft Resource Center (ITRC) in a recent report on how identity crimes impact its victims points out that identity theft causes significant hardship for a substantial portion of identity theft victims.

ITRC is a non-profit organization that supports victims of identity theft and educates the public about identity theft, data breaches, cyber security, scams/fraud, and privacy issues.

In its 2021 Aftermath Report, ITRC concluded that:

1.      The number of repeat victims is increasing.

2.      Victims are struggling more to meet their financial obligations.

 

The report’s key findings include:

·         While most victims lost less than $500, 21% told ITRC that they lost more than $20,000 to identity theft.

·         Almost one third (29%) of victims contacting the ITRC have been victimized previously.

·         Very few identity theft victims can resolve their identity theft issues easily-

o   1% of victims who contacted the ITRC said that they could resolve their issues in one day.

o   Pre-pandemic, 37% of identity crime victims victimized in 2019 were not able to resolve those issues as of May 2020.

o   During the pandemic, 75% of victims victimized in 2020 said that their issues were still unresolved as of April 2021.

The unemployment fraud by thieves by stealing payments from state governments has had a tremendous effect on state budgets and on the privacy for individuals. The fraudsters typically would use stolen private information to impersonate people to direct unemployment and stimulus payments to the fraudster’s bank accounts.

People reporting to ITRC as victims of unemployment and stimulus fraud in 2020 had significant financial and emotional impacts,

·         A majority said that they had more stress than usual and that they felt being violated.

·         40% could not pay their routine bills.

·         33% did not have enough money to buy food or pay their utility bills.

·         14% were evicted for non-payment of rent or mortgage.

·         13% have not been able to get a temporary or permanent job as a result of identity theft.

 

By ITRC’s estimation, identity theft is the fastest growing crime in the U.S. The Federal Trade Commission reports a nearly 250% increase in the crime reported to between 2016 and 2020. As identity theft grows, so will its adverse effects on its victims. Even if many people will be able to recover many others will have a difficult time regaining their lives after someone has stolen their identity and stolen money, services, or products in their name.

 

 

Identity Theft Resource Center:

https://www.idtheftcenter.org/the-identity-theft-resource-centers-2021-consumer-aftermath-report-reveals-impacts-on-covid-19-identity-crime-victims/

Recovering from identity theft can be complicated and confusing. If you have a question about a potential identity theft situation or believe you are a victim of identity theft and need help you can contact ITRC, for free, online at  https://www.idtheftcenter.org/ or by calling (888) 400-5530.

 

 

AARP Fraud Watch Network:

Another organization that gives free help on identity theft or scams is AARP. Its Fraud Watch Network is available to anyone, not just AARP members. For information on scams go to https://www.aarp.org/money/scams-fraud/. You can call their helpline at (877) 908-3360 for specific help on a scam.