Identity theft is constantly in the news. Almost every month we read about another major data breach. According to the U.S. Department of Justice, 17.6 million Americans were victims of identity theft in 2014. However, the term “identity theft” is used broadly. Of those Americans impacted by identity theft:
86% experienced the misuse of an existing credit card or bank account. This type of fraud is called “account takeover.”
Only 4% had their personal information stolen and used to open a new account. This type of fraud is much more dangerous, and is called “identity takeover.”
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