Open Access
Identity theft is a growing concern worldwide, with billions of personal records exposed every year. In the U.S. alone, the Federal Trade Commission (FTC) received over 289,000 reports of identity theft in Q3 2024. On a global scale, in March 2020, 10 billion personal records were exposed globally due to data breaches. Below are key statistics to understand the scope of identity theft in 2024.
Key Insights
Credit card fraud remains the most common type of identity theft, with 440,692 cases reported in 2022.
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In 2023, adults aged 60 and older reported $3.4 billion in losses due to identity theft.
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The 30–39 age group accounted for the highest share of identity theft cases, with 201,519 reports.
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Identity fraud cost Americans $43 billion in 2023, with $23 billion tied to account takeovers and new account fraud.
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Georgia recorded the highest identity theft rate during 2023 in the U.S., with a total of 48,606 reports.
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Latest Trends and Statistics
The rise of technology has made personal data easier to collect, store, and, unfortunately, steal. In the U.S., 1,802 cases of data breaches and identity fraud were reported in 2022. This showed a sharp increase from just 447 cases that were reported a decade earlier.
Social media account takeovers have also surged. The Identity Theft Resource Center reported four times more inquiries about hijacked accounts in 2022 compared to 2021. This included different cybercrimes where criminals exploited these accounts to demand money from victims, their friends, and family members. These trends give an important insight into the growing risks of identity theft in today’s increasingly connected world.
Types of Identity Theft and Their Prevalence
Here are the most common types of ID theft and their prevalence in recent years:
- Credit Card Fraud: Credit card fraud is the most common type of identity theft, where thieves use stolen credit card account information for financial gain. Data breaches and the dark web make credit card details easy to access, while AI-driven phishing scams make this issue worse.
In 2022, credit card fraud reached its highest point with 440,692 reports, according to the Consumer Sentinel Network. - Bank Account Fraud: Bank fraud has seen a steady rise in recent years. Between 2019 and 2022, the number of identity theft cases increased significantly. In the previous year (2023), the numbers remained high at 136,778 cases, showing how banks continue to be a main target for identity thieves.
- Email and Social Media Scams: Scammers misuse email and social media accounts to steal information or exploit fraud victims.
In 2023, 19,534 cases were reported involving account misuse. Platforms like Facebook, Instagram, Snapchat, and X are common tools for stealing personal information or tricking users into handing over existing account access. - Online shopping Fraud: This type of theft involves fake e-commerce sites, fraudulent offers, and deceptive messages (emails, SMS, or social media posts). Scammers trick people into providing sensitive data or making payments.
In 2023, online shopping scams led to 18,058 cases, highlighting the ongoing risks of unverified websites and offers.
Senior Adults and Medical Frauds
Medical fraud has become a growing threat for seniors, leading to significant financial losses. In 2023, adults aged 60 and older became victims of identity theft and reported losses of $3.4 billion due to identity theft, according to the Internet Crime Complaint Center (IC3). This marked an 11% increase from 2022.
Medical identity theft occurs when scammers misuse a senior’s Social Security number or Medicare information to bill for medical services or treatments they never received. This type of fraud is particularly costly due to the high expenses of healthcare.
For seniors, this can result in:
- Unexpected medical bills
- Compromised Medicare benefits
Demographics of Identity Theft Victims
Identity theft affects people of all ages, but the methods criminals use often depend on their targets. Younger generations face greater risks due to online activities, such as social media fraud and weak security habits. In contrast, seniors are targeted for their assets and trusting nature.
According to the FTC.gov:
- The 30–39 age group reported the most cases, with 18% of total fraud reports (201,519 cases).
- The 40–49 group followed closely, accounting for 16% (175,402 cases), while 20–29-year-olds made up 14% (157,908 cases).
- Although adults 80 and older had approximately 4% of the cases (48,478 cases), they often faced significant financial losses.
Impact on Victims: Statistical Insights
Identity theft isn’t just about stolen money. It also affects victims emotionally, and financially, and even damages their credit, creating long-term challenges.
Emotional Toll
Identity theft leaves many victims feeling vulnerable and distressed. A survey by the Identity Theft Resource Center revealed that 69% of the respondents feared for their financial security, 50% experienced feelings of helplessness and 29% felt shame or embarrassment.
Financial Losses
While total losses from identity theft declined to $189 million in 2022 (down from $278 million in 2021), older adults faced heavier financial blows.
Only 22% of Americans 80 and over reported losses, yet their median loss was $1,450 which was the the highest of any age group. On the other hand, younger victims, like those 19 and under, reported lower median losses of just $200.
Damaged Credit
Stolen personal information which includes Social Security numbers or bank account details poses negative impacts on the victims’ credit scores. In 2023, identity fraud cost Americans $43 billion, with $23 billion linked to account takeovers and new-account fraud making them one of the major causes of damaged credit.
Identity Theft Statistics Across States
According to the CSN Annual Data Book 2023, identity theft was the highest reported complaint compared to any other issue. The identity theft statistics vary across states.
Identity Theft Rates in Urban vs Rural States
Urbanized states with major cities report significantly higher per capita rates and overall cases of identity theft. These areas often have denser populations, increased digital activity, and larger financial institutions, making them prime targets.
- Georgia: 457 reports per 100K people (48,606 cases) and Atlanta serves as a major economic and digital hub.
- Florida: 438 reports per 100K (93,547 cases) and Miami and Orlando see high digital and financial activity.
- Nevada: 404 reports per 100K (13,362 cases) and Las Vegas contributes significantly due to tourism and commerce.
Rural and less populated states consistently report lower per capita rates and fewer identity theft cases. With smaller populations and lower digital engagement, these areas have fewer opportunities for identity theft incidents.
- South Dakota: 51 reports per 100K people (1,329 cases).
- North Dakota: 114 reports per 100K people (873 cases).
- Nebraska: 132 reports per 100K people (2,621 cases).
FAQs
Identity theft protection services monitor your personal data, credit reports, and even the dark web for any suspicious activity. If something unusual is detected, they send you real-time alerts. Many services also provide support to help resolve identity theft, including access to insurance to cover certain financial losses.
A key way to protect yourself is by monitoring your credit history regularly. You’re entitled to one free credit report per year from each of the three national credit bureaus: Equifax, Experian, and TransUnion.
Bottom Line
Identity theft remains a growing concern in the U.S., with over 289,000 reports filed in Q3 2024 alone, highlighting its widespread impact. Credit card fraud leads as the most common form, peaking at 440,692 cases in 2022. Seniors are particularly vulnerable, reporting $3.4 billion in losses in 2023, a sharp 11% increase from 2022.
The 30–39 age group reported the highest share of cases (18%), while account takeovers and new-account fraud contributed to $23 billion in losses, significantly harming credit scores. Georgia remains the most affected state, with 457 reports per 100K people and 48,606 total cases.
As identity theft evolves, the growing financial and emotional toll underscores the need for stronger protections and vigilance across all age groups.
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Sources
- The Big View: All Sentinel Reports. Federal Trade Commission. Evaluated December 16, 2024.
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Link here - Consumer Sentinel Network Databook 2022. Federal Trade Commission. Evaluated December 16, 2024.
Link here - U.S. data breaches and exposed records 2018 | Statistic. Statista. Evaluated December 16, 2024.
Link here - Hacked and Furious – The Rise in Social Media Account Takeovers. ITRC. Evaluated December 16, 2024.
Link here - Consumer Sentinel Network Databook 2023. Federal Trade Commission. Evaluated December 16, 2024.
Link here - A Lasting Impact: The Emotional Toll of Identity Theft. Equifax. Evaluated December 16, 2024.
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- Ianzito, C. Identity Fraud Cost Americans $43 Billion in 2023. AARP. Evaluated December 16, 2024.
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- 2023 Elder Fraud Report. Internet Crime Complaint Center. Evaluated December 16, 2024.
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