are the typical losses to a victim of an Identify Theft?
Available statistics from the Secret Service, the FBI organization responsible for pursuing Identity Theft cases, regarding its identity-theft related cases for fiscal years 1998-2000, shows the actual losses to victims in the cases where the FBI was able to quickly pursue the criminals averaged $46,119 and the potential total loss to the victim if the criminal was not apprehended averaged $263,815. For risk management purposes the ACAP System damage assessment function allows analysis using various values. Commonly used analysis values are between $20,000 and $80,000 per stolen individual’s identity. Source: United States General Accounting Office (GAO) Report to U. S. Congress, GAO-02-363, March 2002, Subject: IDENTITY THEFT: Appendix II – Identity Theft Prevalence and Cost. [back to top] 15.
