Identity Theft Protection: A Public Priority, An Employer Opportunity

Identity theft is the number one consumer crime in America, and still growing rapidly. In 2004, almost one in twelve households were victimized by some form of identity theft, and surveys indicate that approximately one fifth of Americans have been victims at one time or another. The total amount of identity fraud in 2004 reached a staggering $200 for every man, woman, and child in the US. Estimates of actual individual losses vary widely, but figures of approximately $500 average out-of-pocket loss, plus another $800 in recovery expenses per incident are considered reliable. In addition, identity recovery activities typically take scores or hundreds of hours, and often drag on for years. Once stolen, identity information enters an enormous international marketplace, and is often sold and resold many times, used again and again in a variety of scams, posing a recurring, persistent threat and hassle for the victim. This year alone, over 50 million identities