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Thursday, February 01, 2007

Study: ID fraud in decline

Despite high-profile data breaches, identity fraud may be on the decline, according to a study released on Thursday.  The firm found that the percentage of the U.S. adult population that experience fraud dropped to 3.7 percent in 2006 from 4.0 percent in 2005.  The Javelin study found that the victim’s income played a major role in the fraud rate.  While Americans with incomes of more than $150,000 had a high rate of fraud, with 7.3 percent reporting incidents, they only took half as long to resolve fraud as victims whose income was less than $15,000.

“While identity fraud is still a serious criminal issue in the United States, (the) study points to significant identity fraud reduction as a direct result of changes in industry and consumer behaviors,” James Van Dyke, president and founder of Javelin, said in a statement announcing the results.

In January, retail giant TJX Companies announced that data thieves had stolen an large number of its customers’ credit-card information from a server that processed transactions.

Posted on 02/01