Threat Management, Identity

Fraud, identity theft losses in the US reach record highs

The U.S. has lost $3.3 billion to fraud and identity theft in 2020, the highest on record and nearly two times higher than losses a decade earlier, reports PCMag.

Alaska had the highest losses across the U.S., with median incident costing $500 per victim, followed by New Mexico, California, Washington, Nevada and Delaware, according to a study from Beyond Identity. However, West Virginia, Kentucky, Maine, Mississippi and Rhode Island had the lowest median losses per person.

Moreover, Kansas, Rhode Island and Illinois had the greatest increase in the number of identity theft reports between 2010 and 2020, while South Dakota, Iowa and Nebraska had the smallest gains in such reports during the same period.

The study also showed that Delaware, Nevada and Florida had the steepest increase in digital fraud reports within the decade, while South Dakota, North Dakota and Iowa had the smallest increases during the same time frame.

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