A study released Wednesday shows one in four consumers who receive a data breach letter become the victim of identity fraud. That statistic represented 12.6 million victims last year -- one million more than the year before, according to the 2013 Identity Fraud Report released by Javelin Strategy & Research.
"This past year was one where there were both successes and setbacks for consumers, institutions and fraudsters," said Jim Van Dyke, CEO of Javelin Strategy & Research, in a prepared statement. "Consumers and institutions are now starting to act as partners—detecting and stopping fraud faster than ever before. But fraudsters are acting quicker than ever before and victimizing more consumers. Consumers must take data breach notifications more seriously and maintain vigilance to safeguard personal information, especially Social Security numbers."
Javelin researchers have conducted the annual study for 10 years, most recently by launching an address-based survey of 5,249 U.S. consumers. According to a news release, this is the nation's longest-running study of ID fraud with 48,200 participants in the past decade. This latest survey was conducted with assistance from CitiGroup Inc., Intersections LLC and Visa Inc.
Javelin: Identity fraud reports increased by more than a million last year
One New Identity Theft Victim Every 3 Seconds in 2012
Survey: Identity fraud in US reaches highest level in three years