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Identity Theft Survey Report 2003 - Value thief obtained. · Victims were asked to estimate the value of what the thief obtained from businesses,
including financial institutions, using the victim’s personal information. These figures include
amounts that became losses to the businesses involved and, in situations where the victim
actually paid the debt created by the thief, those amounts as well. The median value was
between $500 and $999.
· Overall, 16% of victims said that more than $5,000 was lost due to the misuse of their
personal information. About 1-in-5 reported that less than $100 was involved.
· Victims of more serious forms of Identity Theft, those who had new accounts opened in
their names or had their information used to commit other types of fraud, reported higher
amounts lost; over one-third said over $5,000 was involved, and just 12% of the victims of
this type of ID Theft reported a value of less than $100. The average loss resulting from
this type of ID Theft was $10,200.
· The amount obtained by the thief was lower where the misuse of the victim’s information was discovered more quickly. When the misuse was discovered within 5 months of the initial misuse, the value obtained by the thief was $5,000 or more in only 11% of the cases. Where discovery took 6 months or more, the value obtained by the thief was at least $5,000 in 44% of cases.
· For people whose ID Theft experience only involved the misuse of an existing credit card or
other account, the median amount reported as being lost was between $100 and $499.
Almost 25% of these victims reported that the thief got less than $100. Those who suffered four or more distinct misuses of their information were also likely to report higher losses. More than one-half of this group (52%) said more than $5,000 was lost.
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Return to all credit report facts
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