Identity fraud jumped by 13 percent in 2011, and that increase may be the result of consumers’ social media and mobile behaviors.
For the past nine years, Javelin Strategy & Research has conducted an annual analysis of identity fraud trends, and for the first time, the 2011 study examined social media and mobile phone behaviors, ultimately uncovering certain related consumer practices that appear to increase risks.
Here are some of the key findings in more detail:
- The overall number of identity fraud cases is up, but the dollar amount held steady. Javelin found that more than 11.6 million adults became a victim of identity fraud in the US last year, although the dollar amount stolen remained constant. (Javelin defines “identity fraud” as the unauthorized use of another person’s personal information to achieve illicit financial gain.)
- Social behaviors are risky. LinkedIn, Google+, Twitter and Facebook users had the highest incidence of fraud although there is no proof of direct causation. What’s the risk? Javelin found that consumers share significant amounts of personal information frequently used to authenticate identity. For example: (more…)