Source: PR Newswire
Over the past 10 months, identity theft has continued to dominate news headlines with stories of dumpster divers and security breaches. So, it’s no coincidence that Americans’ confidence has also dropped, leading to nearly a 10 percent increase in the number of people feeling vulnerable to identity theft. According to a national survey, conducted by the Identity Theft Resource Center (ITRC) and Fellowes, Inc., the leading shredder manufacturer, concerns about identity theft are increasing with Americans feeling less confident than they did a year ago concerning their safety from the crime.

This new research is part of a long-term awareness initiative called Americans’ Identity Confidence Index, which gauges how consumer perceptions of identity theft and specific preemptive behaviors change over time. Through the index, Fellowes and the ITRC annually survey respondents on five questions pertaining to vulnerability, and report on overall changes. This year, the index dropped more than four points, indicating consumer confidence is down compared to 2006 when the index was first measured. The study also reveals that the vast majority of Americans continue to believe that identity theft can happen at any time (84 percent in 2007 vs. 81 percent in 2006). Although 69 percent report using tools or solutions to protect themselves (similar to 65 percent in 2006), more people report feeling vulnerable to the crime (59 percent vs. 50 percent).

“Identity theft affects thousands of people every day,” said Jamie Fellowes, chairman and CEO of Fellowes, Inc. “Although the crime isn’t going away any time soon, it is our hope that through this index we can continue to gain a better understanding of consumer’s general awareness, and ultimately help educate them on how to best protect themselves.”

While Americans are aware of the threat of identity theft, misunderstandings about how the crime occurs still remain prevalent. The survey reveals that Americans still believe technology makes them more vulnerable to the crime, with nearly 40 percent stating that identity theft is most likely to occur through online exchanges. In reality, online exchanges only represent 9 percent of the crime, whereas the majority of identity fraud occurs through paper documents and stolen information (1). Additionally, Americans are too trusting when it comes to those they are closest to. Only 6 percent of respondents suspect that family and friends are responsible for identity theft. However, national statistics show that 15 percent of identity fraud cases involve family, friends or acquaintances (1).

Identity Theft Solutions:

Perhaps driven by increased insecurities, more Americans are taking precautions and adopting good identity theft protection habits compared to 2006. When asked about the specific activities Americans engage in to protect themselves, more respondents report:

• Shredding personal information such as bank statements (71 percent vs. 66 percent) or unsolicited credit card offers (66 percent vs. 60 percent).
• Regularly monitoring their credit card and bank statements (87 percent vs. 82 percent).
• Making sure no one is watching or listening when they disclose personal information (84 percent vs. 79 percent).
• Only half of Americans order a current credit report at least once every two years (similar to 48 percent in 2006), even though it is one of the most effective ways to ensure that no one is misusing your credit.

“A stolen identity can affect all aspects of your life,” said Jay Foley, executive director of the Identity Theft Resource Center. “We are seeing a large number of paper data exposures across the country, making it essential for consumers to appropriately protect their information. It’s great to see more Americans taking extra steps to safeguard themselves against identity theft. You can never be too careful when it comes to preventing the crime.”