Slow Economy Spurs Jump In Identity Theft Cases

In a study released on Monday by Javelin Strategy & Research shows that the number of identity theft cases jumped 22 percent to a total of 9.9 million cases in 2008. However, the actual monetary loss from each incident dropped 31 percent to $496. It is likely that as the economy worsens, the number of identity theft cases will continue to rise. It appears as if criminals are getting more desperate as the economy gets worse. 43 percent of identity theft cases were linked to wallet thefts. This number is up from 33 percent in 2007. Women were 26 percent more likely to be the victims of identity theft because they reported more cases of lost or stolen purses and wallets. Online identity theft only accounted for about 11 percent of all identity theft cases. More than 10 percent of victims of identity theft knew their identity thieves. The drop in the monetary loss from each incident can be attributed to banks taking greater steps to clear up identity theft when it becomes apparent that this has occurred and individuals are more alert when something like this happens.

For more information about the Chicago criminal defense attorneys at Legal Defenders, visit us at www.thelegaldefenders.com or call us anytime at 1-800-228-7295.