2011 Identity Fraud Survey Report: Identity Fraud Decreases – but Remaining Frauds Cost Consumers More Time & Money
|2011 Identity Fraud Survey Report|
|Companion webinar: 2011 ID Fraud.|
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In 2010, identity theft and fraud claimed fewer victims than in any other period since Javelin began conducting surveys in 2003. Driving that decrease was the reduced rate of existing account fraud, although incidents of all types of fraud dropped from 2009. Meanwhile, consumer costs, the average out‐of‐pocket dollar amount victims pay, increased, reversing a downward trend in recent years. This increase can be attributed to new account fraud, which showed longer periods of misuse and detection and therefore more dollar losses associated with it than any other type of fraud. The Javelin 2011 Identity Fraud Survey Report provides a detailed, comprehensive analysis of identity fraud in the United States to help consumers and businesses better understand the effectiveness of methods used for its prevention, detection and resolution. A nationally representative sample of 5,004 U.S. adults, including 470 fraud victims, was surveyed via a 50‐question phone interview, providing insight into this crime and the affects on its victims. This report, supported by the Better Business Bureau, is issued as a longitudinal update to the Javelin 2005, 2006, 2007, 2008, 2009 and 2010 Identity Fraud Survey reports and the Federal Trade Commission’s (FTC’s) 2003 report.
This survey is co-sponsored by organizations committed to educating and helping consumers and businesses reduce their risk of identity fraud including Fiserv, Inc., Intersections Inc. and Wells Fargo & Company and is supported by the Better Business Bureau. Sponsors partially underwrite Javelin’s cost of data collection, analysis and reporting in return for having their organization cited in the release of the study. Javelin retains complete independence of data analysis and reporting, and the report has been created solely by Javelin employees.
Javelin’s eighth annual Identity Fraud Survey Report is the most comprehensive research study of the subject in the United States. It assesses the effectiveness of methods used for fraud prevention, detection and resolution and provides the basis for fact‐based benchmarking and recommendations.