Available Data Indicate Growth in Prevalence and Cost
GAO-02-424T, Feb 14, 2002 - Accessible Text: Identity theft
involves "stealing" another person's personal identifying
information, such as their Social Security Number (SSN), date of
birth, or mother's maiden name, and using it to fraudulently
establish credit, run up debt, or take over existing financial
accounts. The prevalence and cost of identity theft seem to be
increasing. Recently introduced bills seek to prevent identity
theft and enforce laws prohibiting identity theft. Since May
1998, various actions--particularly passage of federal and state
statutes--have been taken to address identity theft. Precise,
statistical measurement of identity theft trends is difficult
for several reasons. Federal law enforcement agencies lack
information systems to track identity theft cases. Also,
identity theft almost always accompanies white-collar or
financial crimes, such as bank fraud, credit card or access
device fraud, or the use of counterfeit financial inst