A study by Javelin Strategy & Research finds that identity theft declined by 11.5% in 2006:
According to the study, 8.4 million adult Americans, or one in 27, learned last year that criminals committed fraud with personal data such as credit card or Social Security numbers. That’s down from 8.9 million in 2005 and 10.1 million in 2003.
Adults under 25, African-Americans, and people who make more than $150,000 were among the groups most likely to suffer fraud, the study said. The youngest adults were also among the least likely to take steps to stop it, the study said.
Consumers on average spent $535 to clear up a fraud, though more than half spent nothing, the study said. Many businesses excuse customers from liability for certain frauds.
Results were based on a phone survey last fall of 5,006 people, including 469 who said they were fraud victims.
The survey was sponsored by Wells Fargo & Co., the fifth-largest U.S. bank; Visa, the credit card association; and CheckFree Corp., which makes bill paying software.