Blog | G5 Cyber Security

Alarming number of consumers impacted by identity theft application fraud and account takeover

47% of U.S. consumers surveyed experienced identity theft and 37% experienced application fraud. 38% of consumers experienced account takeover over (i.e., unauthorized access to a consumer’s existing account) over the past two years. Nearly one-third of surveyed consumers detected checking, credit or consumer loan fraud on their own, while less than a quarter were notified by their financial institution or by the financial institution where the fraudulent account was opened. Nearly a quarter of those who experienced fraud were not notified by a collection agency.

Source: https://www.helpnetsecurity.com/2021/03/15/consumers-impacted-by-identity-theft/

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