Sixteen (16) percent of Identity Theft Resource Center victims surveyed reported thoughts of suicide, up from ten (10) percent in 2022
SAN DIEGO, Aug. 23, 2023 /PRNewswire-PRWeb/ -- Today, the Identity Theft Resource Center® (ITRC), a nationally recognized nonprofit organization established to support victims of identity crime, has published its 2023 Consumer Impact Report, supported by Experian. The report goes beyond the known financial implications of identity crimes and explores the lost opportunities as well as the emotional, physical and psychological impacts experienced by victims resulting from the crimes. The findings in the report highlight a rise in sophisticated social engineering scams and an increase in dollar losses from various identity scams.
For the report, the ITRC surveyed victims who contacted the ITRC and general consumers, including consumers who were victims of identity crimes but did not contact the ITRC. According to the responses, an increasing number of identity crime victims who spoke with the ITRC reported thoughts of suicide (16 percent in 2023 compared to 10 percent in 2022). Ten percent in 2022 was the all-time high for the Center prior to the large spike in 2023.
Download the ITRC's 2023 Consumer Impact Report
"Too often, we focus on the number attached to a statistic and focus too little on what it means," said Eva Velasquez, President and CEO of the Identity Theft Resource Center. "The fact that 16 percent of identity crime victims thought it's easier to end their life than try to recover from an identity crime says as much about the lack of concern and support for identity crime victims as it does the victims themselves. We need to fundamentally change the way we support identity crime victims to ensure no one feels ignored or dismissed the way they do today."
"Technology can be our friend and foe when it comes to identity theft. Scammers are relentless and their success can be devastating. Resources like the Identity Theft Resource Center and the Consumer Impact Report help us all be more aware and diligent about protecting ourselves," said Mike Bruemmer, Vice President, Global Data Breach Resolution for Experian.
According to the 2023 Consumer Impact Report, 41 percent of ITRC victims and 69 percent of general consumers have been victims of an identity crime more than once. Also, more identity crime victims report losing more money than in previous years, with 26 percent of ITRC victims claiming losses of more than $100,000. For the first time, the ITRC consistently sees six-figure losses in romance and social media scams, often involving cryptocurrency or other investment schemes.
Some of the Other Findings in the 2023 Consumer Impact Report Include:
- Most identity crime victims and general consumers report using multi-factor authentication (MFA) (59 percent of ITRC victims and 53 percent of general consumers) or device lock screens (56 percent of ITRC victims and 52 percent of general consumers) to protect their personal information.
- Fifty-six (56) percent of ITRC victims and 59 percent of general consumers report using the same password on each account, increasing the likelihood of an identity crime. However, after becoming a victim, the number of people who contact the ITRC who switch to using a different password on each account rises from 44 percent to 53 percent.
- Sixty-five (65) percent of ITRC victims and 57 percent of general consumers limit what they post on social media. However, only 59 percent of ITRC victims and 48 percent of general consumers limit who can see their social media posts.
- Thirty-three (33) percent of ITRC victims and 23 percent of general consumers receive 2-5 data breach notices.
Consumers and victims of identity crimes and compromises can receive free support and guidance from a knowledgeable ITRC advisor by calling 888.400.5530 or visiting idtheftcenter.org to live chat.
About the ITRC's 2023 Consumer Impact Report
Since 2003, the ITRC has surveyed the identity crime victims who have contacted the Center to gauge the impact of identity compromises on individuals. Numerous studies by government agencies and private organizations focus on the financial impacts of identity-related crimes. However, the primary purpose of the ITRC Consumer Impact Report is to gauge the emotional, physical and practical effects on the day-to-day lives of victims, including lost opportunities.
This year's report reflects the responses of 144 victims who contacted the ITRC between January 1-December 31, 2022. The ITRC also asked 1,048 consumers in an online survey if they had been the victim of an identity crime and, if so, how it impacted them. Responses from this broader set of self-identified victims using similar questions asked of victims who contacted the ITRC show both significant differences and common experiences.
About the Identity Theft Resource Center‥‥‥
Founded in 1999, the Identity Theft Resource Center® (ITRC)‥is a‥national‥nonprofit organization established to empower and guide consumers, victims, business and government to minimize risk and mitigate the impact of identity compromise and crime.‥Through public and private support, the ITRC provides no-cost victim assistance and consumer education through‥its website‥live chat idtheftcenter.org‥and‥toll-free phone number 888.400.5530.‥The ITRC also‥equips‥consumers and businesses‥with‥information about recent data breaches through its data breach tracking tool,‥notified.‥The ITRC offers help to specific‥populations, including‥the‥deaf/hard of‥hearing and‥blind/low‥vision‥communities.‥
About Experian
Experian is the world's leading global information services company. During life's big moments – from buying a home or a car, to sending a child to college, to growing a business by connecting with new customers – we empower consumers and our clients to manage their data with confidence. We help individuals to take financial control and access financial services, businesses to make smarter decisions and thrive, lenders to lend more responsibly, and organizations to prevent identity fraud and crime.
We have 22,000 people operating across 32 countries and every day we're investing in new technologies, talented people, and innovation to help all our clients maximize every opportunity. With corporate headquarters in Dublin, Ireland, we are listed on the London Stock Exchange (EXPN) and are a constituent of the FTSE 100 Index.
Learn more at experianplc.com or visit our global content hub at our global news blog for the latest news and insights from the Group.
Media Contact
Alex Achten, Identity Theft Resource Center, 888.400.5530 x 3611, [email protected], www.idtheftcenter.org
Victoria Lim, Experian, 888.400.5530 x 3611, Victoria.[email protected]
SOURCE Identity Theft Resource Center
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