15.4 million consumers were victims of identity theft or fraud in 2016, the highest figure recorded by Javelin Strategy & Research since the firm began tracking fraud instances in 2004. Financial institutions can spend hundreds, even thousands of dollars per new customer acquisition. 41 percent of new account fraud (NAF) uses real identities with correct personal information, making it very difficult to detect when a stolen identity is used. A single stolen identity with a perfect credit score can cost as much as $150.”]