According to Javelin Strategy & Research, the amount of identity theft rose 13% from 2010 to 2011, reports Digital Trends. In terms of hard numbers, about ten million adults experienced identity theft in 2010, a figure that rose to 11.6 million in 2011.
Javelin’s study, conducted last October, surveyed 5,022 US adults to understand the impact of the fraud, as well as try to pinpoint where the greatest vulnerabilities are in the system. Data breaches and user negligence, in the forms of not being up on smart phone security and posting too much personal information on social media sites.
Although incidents of fraud have increased, they haven’t impacted the overall cost of identity theft, as businesses became more concerned with authentication. The government has also instituted more efforts to increase customer awareness, and the Obama administration is trying to create a standardized Internet login system for e-commerce.
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