Know the risks
Identity theft happens when criminals get a hold of your sensitive personal information to take out loans, open fraudulent accounts, falsify tax returns, purchase properties, and use your good name to break the law.
1: How your information is taken
There were over 1,000 breaches in 2020. Even with over 164 million exposed records, many breaches left the number of compromised records undiscovered.1
While hacking makes up 91% of data attacks, not all threats to information happen online. Physical documents, institutional records, and lost wallets can also be used to expose sensitive information and commit identity theft. Criminals have many ways to access personal information, and some of them are completely out of your control.
…No matter how careful you are, your information can be stolen
| Cause | Qty | % |
|---|---|---|
| Phishing/Smishing/BEC | 382 | 44% |
| Ransomware | 158 | 18% |
| Malware | 104 | 12% |
| Non-secured Cloud Environment | 50 | 6% |
| Credential Stuffing | 17 | 2% |
| Unpatched software flaw (CVE) | 3 | 0% |
| Zero Day Attack | 1 | 0% |
| Other - not specified | 160 | 18% |
2: What information is stolen
Identity thieves are the new pickpockets, but what they steal is more personal and damaging than cash or personal items.
Some of the most targeted pieces of information, such as full names and Social Security numbers, don’t change often over the course of a lifetime. When stolen and used by an identity thief, these more permanent pieces of information can’t be easily changed to resolve the problem.
- 2019 Risk Based Security
| Name | Email Address | Social Security Number | Address | Password | Miscellaneous | Undisclosed | Credit Card Numbers | Financial | Date of Birth | Phone Number | Medical |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 44.2% | 27.8% | 27.0% | 25.9% | 23.5% | 21.0% | 18.2% | 17.2% | 15.6% | 15.0% | 11.2% | 11.1% |
2: What information is stolen
Identity thieves are the new pickpockets, but what they steal
is more personal and damaging than cash or personal items.
Some of the most targeted pieces of information, such as full
names and Social Security numbers, don’t change often over the
course of a lifetime. When stolen and used by an identity thief,
these more permanent pieces of information can’t be easily
changed to resolve the problem.
3: What can happen with the information that has been stolen
Often harder to track than true identity theft, synthetic identity fraud is the fastest-growing type of financial crime in the U.S.
Identity thieves can mesh personal data with fabricated information to build an entirely new synthetic identity which they can use in a variety of ways, such as taking out loans or committing financial fraud. Synthetic Identity Theft is currently the fastest growing type of identity fraud – targeting difficult to resolve information such as your SSN and birth date.
Criminal Identity Theft can be hard to detect
When fraudsters use your identity to commit crimes there’s more at stake than just the financial impact. Fraudulent charges on your criminal record can affect your ability to get a job, apply for a driver’s license, and can even lead to victims needing to post bail. This kind of identity theft can remain undiscovered until fraudulent charges appear on a background check. This type of theft can take place when your ID is stolen or lost and can remain unnoticed by the victim until fraudulent charges appear a background check, or they face false legal charges.
About five records per American and 1.5 billion records total were exposed in data breaches in 2019.2
The rapid shift to banking and living online in 2020 has led to a greater possible risk of Account Takeover losses.3
When a Social Security number is compromised it can be very difficult to replace
Your SSN is an all-access key for criminals to set up usernames, validate accounts, open credit cards, secure loans, and make large-scale purchases in your name. The Social Security Number is the second most popular type of compromised breach data, exposed in 51% of all 2020 breaches. When used for tax-fraud, your SSN can also be used to collect your tax refund.
Consumer Medical information was found in 74% of breaches in 2020
Medical Identity Theft is when someone uses a fake identity to procure medical services, which can affect medical coverage and treatment. Falsely influenced medical records can lead to a doctor prescribing the wrong medication or a patient being unable to receive their medication, causing significant damage before being recognized. Prevention of medical identity theft requires consistent reviewing of medical statements and medical claims.
Many child identity theft victims personally know who stole their information, most often being family members including parents.
Adults go to great lengths to protect their identity, but don’t always consider providing the same level of protection to their children. That’s why Complete ID offers additional Child Identity Monitoring.4
14% of all identity theft affected Americans age 60 or older.
Older Americans usually have assets that increase their risk of being a target of identity theft. They also generally lose more money when victimized. In recent years, a series of phone scams targeting seniors have become so widespread that the FTC has circulated special press releases to address the issue.
Social media hacking and hoaxes can target those around you
Are your social media security settings in tip-top shape? What about all your friend’s, and their friend’s? It’s the nature of social media sites to be an information epicenter, and you don’t have to be breached directly to have your info exposed. The personal facts identity thieves pull from social media can be sold on the dark web, used to create a synthetic identity, or create an impostor social account imitating yours.
Beyond the financial impact
IDENTITY THEFT CAN AFFECT YOUR QUALITY OF LIFE
Unlike other types of theft, identity theft hurts more than just your bank account.
Identity theft can affect your life options and basic necessities. When your identity has been compromised it can lead to false criminal charges, bank account charges, and a lowered credit score. It can eventually result in job loss, reduced access to housing, and the inability to attain credit cards, student loans, personal loans, and/or mortgages.
The consequences can extend much deeper. According to a report from the SANS Institute, once stolen, it could take up to 6 years to recover your identity. It may even result in lost wages if you have to take time off work.
How Complete ID Works
Identity Protection
There’s a lot of variety and complexity possible for every identity theft case. Simple protective measures, like annually checking credit reports, no longer cut it. It’s necessary to have a comprehensive and proactive approach to identity protection.
Credit Monitoring
It’s important to know about your financial health, just like it’s important to know about your physical health. Your credit gets a regular checkup as part of your Complete ID membership.
Restoration
Don’t get lost in the labyrinth of processes required to resolve ID theft. Our specialists know all the routes and pitfalls no matter the type of theft, so you can have years of expertise at your back when tackling your case.
*All plan pricing is subject to applicable sales tax. Service provided by Experian®.
12020 ITRC Data Breach Report, Experian proudly provides financial support to the Identity Theft Resource Center.
2Statista.com – 2020: Annual number of data breaches and exposed records in the United States from 2005 to 2020
3Experian, Account takeover fraud, 2020 trends
4Child monitoring includes up to 5 children under the age of 18. One-time Parent/Legal Guardian verification is required to receive alert details for children.