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Identity Theft/Financial Theft Crimes on the Increase

A recent report by the U.S. Department of Justice, Bureau of Justice Statistics, shows that identity theft, also referred to as financial theft, crimes increased as of 2007 when the most recent statistics were compiled. According to the report, 7.9 million households, or 6.6%, report that at least one member was a victim of some type of identity theft in 2007. That was a major increase over the previous two years.

The Bureau defined identity theft as the unauthorized use or attempted unauthorized use of a credit card or other financial account or misuse of personal information. The most common type of identity theft is the unauthorized use or attempted unauthorized use of one’s credit card. The average loss incurred by victims of identity theft was $1,830 in 2007 according to the report.