With nearly 10 million Americans reporting identity theft that cost banks and other businesses nearly $48 billion last year, the Federal Trade Commission said the problem is worse than previously estimated. The latest FTC survey on identity theft, which revealed more than 27 million victims of this crime in the last five years, did not differentiate Internet-related ID theft from standard ID theft, but experts agreed that perpetrators are leveraging technology to commit this kind of offense today.
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FTC: Identity Theft Worse Than Estimated
Posted by: Jay Lyman September 4, 2003 09:45 AMWith nearly 10 million Americans reporting identity theft that cost banks and other businesses nearly $48 billion last year, the Federal Trade Commission said the problem is worse than previously estimated. The latest FTC survey on identity theft, which revealed more than 27 million victims of this crime in the last five years, did not differentiate Internet-related ID theft from standard ID theft, but experts agreed that perpetrators are leveraging technology to commit this kind of offense today.