Did you know one in 25 Americans were victims of identity theft in 2011?
While identity theft might not sound like a particularly gruesome crime physically, it can take its toll financially. The average cost incurred by victims of this crime is over $600. Collectively, that equals to 1.52 billion dollars of money lost to identity theft in the US in 2011 alone -- these are no small potatoes.
What's more staggering is the relative numbers of this crime. In 2011, 67% more people had their identities stolen than the previous year. And if you've had your identity stolen once, it's 9.5 times more likely to happen again. How does this happen? A lot of the identity theft is carried out via malware and malicious web domains.
Why This Trend Is Growing
- Identity Theft Prevention
- Opportunity for disruptive innovation in developing advanced security systems and technologies to prevent identity theft.
- Cybersecurity Education
- Opportunity for disruptive innovation in creating online courses and resources to educate individuals and businesses about cybersecurity and how to protect against identity theft.
- Data Privacy Solutions
- Opportunity for disruptive innovation in developing privacy-focused technology and software solutions to safeguard personal and financial information from identity theft.
Industries Being Reshaped
- Cybersecurity
- The cybersecurity industry can capitalize on the rising demand for advanced identity theft prevention systems and solutions.
- Education
- The education industry can tap into the need for cybersecurity education by offering online courses and training programs.
- Technology
- The technology industry can innovate data privacy solutions and develop secure digital platforms to protect against identity theft.
