Imagine that you are trying to buy your dream home. Your credit history is impeccable, but your bank rejects your loan application because of your poor credit score. You begin to receive bills in the mail for credit cards you never applied for and bounced checks you never wrote. You have fallen victim to the fastest-growing crime in the United States according to the U.S. Department of Justice (DOJ)—identity theft.
Most people don't realize how widespread identity theft has become.
It is the number one concern for consumers contacting the Federal Trade Commission (FTC), accounting for 21 percent (278,078) of complaints received in 2009 (http://www.ftc.gov/opa/2010/02/2009fraud.shtm).
About 7.5 percent of adults in the United States lost money as a result of financial fraud in 2008, according to a study by Gartner, Inc. (http://news.cnet.com/8301-1009_3-10186176-83.html). Most of these losses were due to data breaches.
