March 14, 2008
This is an interesting quiz from The SANS Ouch! newsletter concerning the results of a recent study on the root sources of identity theft.
Identity Theft Mini-Quiz: True or False?
1. There is a higher incidence of identity fraud today than in past years.
2. There are more victims of identity theft and fraud today than there
have ever been before.
3. Identity fraudsters are stealing record amounts of money from their victims.
4. Most identity theft and fraud occurs online.
Read on to see the answers:
1. There is a higher incidence of identity fraud today than in past years.
False. Javelin Strategy and Research, which has conducted an annual
mega-study on US ID theft and fraud for the past five years, found some 3.58% of respondents reported experiencing online fraud in the previous year--down from 3.74% in 2007, 4.0% in 2006, and 4.7% in 2003.
2. There are more victims of identity theft and fraud today than there
have ever been before.
False. The Javelin 2008 study estimates that there were app. 8.1 million victims of ID theft and fraud last year, down from 8.4 million the year before.
3. Identity fraudsters are stealing record amounts of money from their victims.
False. Despite reports of big-dollar thefts and a booming black market for credit cards and other personal information, the cost of ID
fraud and theft dropped last year to $51 billion after hitting an all-time-high of $58 billion in the 2007 Javelin study.
4. Most identity theft and fraud occurs online.
False. Some 14% of thefts were carried out using Trojans, viruses, or phishing. Data breaches accounted for another 7%. The greatest percentage, 33%, came from physical theft -- a lost or stolen wallet, purse, or credit card. And 17% were perpetrated by friends, relatives, or in-home employees.
You can subsribe to the SANS Ouch! newsletter at https://www.sans.org/newsletters/ouch
Posted by Thomas Siu at 03:00 PM
