ID Theft Losses Rising

Data thieves are finding fewer victims but making off with more money.

Fewer people were victims of identity theft last year than in previous years but the amount of losses from the problem has gone up, a research firm said Thursday.

About 9 million consumers, or 4 percent of the U.S. population, were victims of some form of identity theft in 2005, down from about 10.1 million, or 4.7 percent, in 2003, said Javelin Strategy and Research.

But that’s not all good news, said James Van Dyke, Javelin Strategy’s founder and principal analyst. The losses from fraud have gone up. About $56.6 billion was lost in identity theft in 2005, compared to $53.2 billion in 2003. RED HERRING | ID Theft Losses Rising

Linked by shanmuga Friday, 5th May 2006 1:19AM