It's commonly believed that credulous senior citizens who lack technological sophistication are the primary targets of identity theft. Although it's undoubtedly true that seniors are vulnerable, identity theft is purely opportunistic, and youth offers no protection.
Identity thieves often target children and seniors for their scams. Children are attractive targets due to their clean credit histories, while seniors rarely monitor their credit and may be less likely to recognize scammers. In some cases, the identity thief could even be a family member.
Reported cases of identity theft, by age of victims U.S. 2022. In 2022, the most targeted age group for identity theft were 30 to 39 year olds, among whom 286,890 cases were reported to the Federal Trade Commission (FTC) in the United States.
Potential Victims of Identity Theft
Anyone can be a victim of identity theft. Children and aging adults are particularly vulnerable to identity theft as they may not understand specific situations, bills, and their care and finances are handled by others.
It's commonly believed that credulous senior citizens who lack technological sophistication are the primary targets of identity theft. Although it's undoubtedly true that seniors are vulnerable, identity theft is purely opportunistic, and youth offers no protection.
In 2021-22: 8.1% of persons (1.7 million) experienced card fraud. 2.7% of persons (552,000) experienced a scam. 0.8% of persons (159,600) experienced identity theft.
If you include account numbers, attach sensitive documents or simply write things you'd never share publicly, you open yourself up to identity theft.
Identity thieves are interested in children's Social Security numbers because they are a blank slate; that is, they don't have a credit history.
Identity theft usually begins when your personal data is exposed through hacking, phishing, data breaches, or other means. Next, a criminal makes use of your exposed information to do something illegal, such as opening an account in your name.
Financial Gain
The most common reason why people commit identity theft and other white-collar crimes is for financial benefit. By committing identity theft, individuals may: Take out loans. Make purchases using other people's credit cards.
Employment or tax identity theft is the top category among Americans between 50 and 59—and for people 19 and under. The FTC classifies the following as Other identity theft: insurance, online shopping, email and social media, securities accounts, evading the law, and medical identity theft.
Bank fraud: New bank accounts, existing bank accounts and payment methods, such as debit cards, electronic fund transfers and automatic clearinghouse (ACH) payments, are a leading playground for identity thieves.
A thief might: steal your mail or garbage to get your account numbers or your Social Security number. trick you into sending personal information in an email. steal your account numbers from a business or medical office.
Identity theft may be used to facilitate or fund other crimes including Illegal immigration, terrorism, phishing and espionage. There are cases of identity cloning to attack payment systems, including online credit card processing and medical insurance.
Almost one million, or 1 in 80, children were the targets of identity theft in 2021 according to an AARP-sponsored report by Javelin Strategy & Research, many as the result of a data breach. Javelin estimates losses tied to child identity theft were $680 million, which was actually less than the year before.
Many online services require users to fill in personal details such as full name, home address and credit card number. Criminals steal this data from online accounts to commit identity theft, such as using the victim's credit card or taking loans in their name.
The FTC Received 1.4 Identity Theft Reports
Of the total 5.7 million cases reported to the FTC, 1.4 million (25%) were specific to identity theft. The FTC classifies identity theft into a specific category in its reporting that is separate from fraud.
Fascinating Identity Theft Facts. Around 1 in 15 people become victims of identity fraud. Americans are most likely to have their identities stolen.
Identity thieves who have access to your personal information may open up new loans, rack up debt in your name and leave those debts unpaid. Regular monitoring of your credit reports is one way to help detect suspicious activity that may indicate fraud or identity theft.
Here are the most common dangers of identity theft: Fraudsters can open new accounts, credit cards, and loans in your name. You can lose your health care benefits (i.e., medical identity theft). Hackers can “own” your email and other accounts (account takeovers).
How fraudsters can steal your personal information. Most of us know the importance of making our passwords and PINs secure and keeping them out of fraudsters' hands. But even simple details such as your full name, date of birth and address can be used to commit identity fraud.
TYPES OF IDENTITY CRIMES
Identity theft begins when someone takes your personally identifiable information such as your name, Social Security Number, date of birth, your mother's maiden name, and your address to use it, without your knowledge or permission, for their personal financial gain.