Financial Crime World

Bureau of Justice Statistics: One in Ten Americans Experienced Identity Theft in 2021 ๐Ÿ“Š

Contact: OJP Media, media@ojp.usdoj.gov

Thursday, October 12, 2023

The Bureau of Justice Statistics (BJS) has released a new report indicating that 1 in 10 individuals in the United States experienced identity theft in the previous 12 months, marking a significant increase compared to the past decade.

Key Findings ๐Ÿ”‘

  • Identity theft has become a persistent issue for millions of Americans.
  • Financial consequences were suffered in 41% of the cases.
  • Identity theft is most common among individuals aged 20-39.
  • Estimated losses totaled $56 billion in 2021.
  • Minorities experienced 1.4 times higher rates than White individuals.

Impact of Identity Theft ๐Ÿ’”

Identity theft refers to unauthorized access or use of another person’s identifying information, including social security numbers, bank or credit card details, and other data. The consequences of identity theft can range from financial loss to significant emotional distress:

  1. Financial loss: Victims suffered financial consequences in 41% of the cases.
  2. Emotional distress: This crime can also cause lasting emotional harm and reputational damage.
  3. Credit score: Identity theft can significantly impact a victim’s credit score, leading to a lengthy recovery process.

Prevalence and Demographics ๐Ÿ‘จโ€๐Ÿ‘ฉโ€๐Ÿ‘งโ€๐Ÿ‘ฆ

Identity theft is more common among certain demographic groups:

  1. Age: Individuals aged 20-39 accounted for nearly half of all cases.
  2. Race and ethnicity: The rate of identity theft was 1.4 times higher among racial and ethnic minorities than for White individuals.

Report and Its Impact ๐Ÿ“Š

BJS acted swiftly in compiling this report, recognizing the importance of raising awareness and understanding the impact of identity theft on citizens:

  1. Victim services: The report will inform the development of more effective victim services.
  2. Law enforcement practices: It will also inform law enforcement practices.
  3. Public education efforts: Lastly, it will contribute to public education efforts.

About the Bureau of Justice Statistics ๐Ÿ“Š

The Bureau of Justice Statistics is the primary federal agency responsible for collecting, analyzing, and publishing information about crime, criminal offenders, victims of crime, and the responses of the criminal justice system.