Each year, an estimated 17.6 million Americans are victims of identity theft.
Identity theft occurs when someone uses another person's personally identifiable information (PII) – such as date of birth, Social Security Number, or credit card numbers – to commit fraud or other crimes. In almost all cases, identity theft victims experience some type of financial loss.
In 2014, the average financial loss reported by identity theft victims was $7,761. This amount does not include any costs incurred like legal fees, late-payment penalties, or the purchase of identity protection services.