Did you know one in 25 Americans were victims of identity theft in 2011?
While identity theft might not sound like a particularly gruesome crime physically, it can take its toll financially. The average cost incurred by victims of this crime is over $600. Collectively, that equals to 1.52 billion dollars of money lost to identity theft in the US in 2011 alone -- these are no small potatoes.
What's more staggering is the relative numbers of this crime. In 2011, 67% more people had their identities stolen than the previous year. And if you've had your identity stolen once, it's 9.5 times more likely to happen again. How does this happen? A lot of the identity theft is carried out via malware and malicious web domains.
Online Self Defense Infographics
This Infographic Explores How to Defend Against Identity Theft
Trend Themes
1. Identity Theft Prevention - Opportunity for disruptive innovation in developing advanced security systems and technologies to prevent identity theft.
2. Cybersecurity Education - Opportunity for disruptive innovation in creating online courses and resources to educate individuals and businesses about cybersecurity and how to protect against identity theft.
3. Data Privacy Solutions - Opportunity for disruptive innovation in developing privacy-focused technology and software solutions to safeguard personal and financial information from identity theft.
Industry Implications
1. Cybersecurity - The cybersecurity industry can capitalize on the rising demand for advanced identity theft prevention systems and solutions.
2. Education - The education industry can tap into the need for cybersecurity education by offering online courses and training programs.
3. Technology - The technology industry can innovate data privacy solutions and develop secure digital platforms to protect against identity theft.