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SUMMARY
Overview
The Javelin 2008 Identity Fraud Survey Report provides a detailed,
comprehensive analysis of identity fraud in the United States in order to help
consumers and businesses better understand the effectiveness of methods used
for its prevention, detection and resolution. A nationally representative
sample of over 5,000 US adults, including 445 fraud victims, was surveyed via
a 49-question phone interview to gain insight into this crime and the effects
on its victims. This report is issued as a longitudinal update to the Javelin
2005, 2006, and 2007 Identity Fraud Survey reports.
Methodology
Survey Questionnaire
The set of questions and underlying methodology used for this report were
identical to or highly similar to the 2007, 2006, 2005 and 2003 surveys. This
allows the ability to provide longitudinal trends on various subjects, such as
incidence rates and detection methods.
Survey Data Collection
Javelin employed the Discovery Research Group for this survey's data
collection. Discovery, one of the nation's largest data collection providers,
is recognized as a reputable data collection service firm with over 20 years
of experience in the industry. Previous studies employed Synovate for all
phases of data collection using Computer Assisted Telephone Interviewing
(CATI) via Random-Digit -Dialing (RDD). Synovate has since changed their
sampling method from RDD to a remunerated opt-in panel. In order to maintain
consistency in methodology by continuing to sample respondents through RDD,
Javelin engaged the services of the Discovery Research Group for the 2008
study.
TABLE OF CONTENTS
- Executive Summary
- Major Findings
- Recommendations
- Recommendations to Institutions
- Recommendations to Consumers
- Measuring the Impact of Identity Fraud
- Regional Overview of Identity Fraud: Incidence Rates by State
- Existing Accounts Fraud
- Existing Card Accounts Fraud
- Existing Credit Card and Existing Debit/Prepaid Card Incidence Rates
- Existing Credit Card and Debit/Prepaid Card Total Fraud Amounts
- Average Fraud and Consumer Costs for Debit, Credit and Prepaid Cards
- Existing Non-Card Accounts Fraud
- Which Existing Non-Card Accounts Have the Highest Rates of Misuse?
- How Do Criminals Takeover Accounts?
- New Accounts and Other Frauds
- Surge in Fraudulent New Telephone Accounts
- Efforts to Stop New Network-branded Cards Frauds Paying Dividends
- Preventing Identity Fraud
- How Is Information Obtained?
- Fraudsters Are Focusing their Efforts on the Phone Channel
- How Does the Fraud Amount Vary by the Way Information Is Obtained?
- Data Breaches in 2007 - The Year of TJX
- Detecting Identity Fraud
- Self- detection Leads to Faster Discovery of Frauds
- The Identity Fraud Life-Cycle
- What Means Are Used to Commit Fraud?
- How Long Is Information Misused?
- How Long Does It Take to Detect Identity Fraud?
- How Is Identity Fraud Discovered?
- Which Methods of Detection Result in the Lowest Average Fraud Amounts?
- Which Method of Detection Is Most Effective for Each Fraud Type?
- Resolving Identity Fraud
- What Are the Consumer Costs Associated with Identity Fraud?
- What are the Average Resolution Times?
- Legal Actions to Resolve Fraud
- Consumer Profiles
- The Risks by Income
- The Risks by Age Group
- The Risks by Ethnicity
- Risks for Latinos
- Consumer Behaviors
- How does Identity Fraud Alter Consumer Behavior?
- Victim Responses Vary by Age
- Related Research
- Appendix
- Glossary
- Methodology
Table of Figures
- Figure 1: Overall Measures of Impact
- Figure 2: Numbers of Victims (in Millions) and One-Year Incidence
Rates
- Figure 3: Incidence Rates and Average Fraud Amounts for New
Accounts by Year
- Figure 4: Incidence Rates and Average Fraud Amounts for All
Existing Accounts by Year
- Figure 5: Incidence Rates and Average Fraud Amounts for Existing
Card Accounts vs. Existing Non-Card Accounts by Year
- Figure 6: Javelin Prevention, Detection, and Resolution™ Model
- Figure 7: One-Year Fraud Incidence Rates
- Figure 8: US Fraud Incidence Rates by State, Averaged Over Three
Years
- Figure 9: Historical Incidence Rates by Fraud Type (One-Year Data)
- Figure 10: Existing Card Fraud by Credit, Debit and Prepaid
Percentages
- Figure 11: Incidence Rates for Existing Card Fraud by Type
- Figure 12: Total Annual Fraud Amounts for Existing Card Fraud by
Types
- Figure 13: Existing Card Fraud by Type: Mean and Median Fraud and
Consumer Costs
- Figure 14: Types of Existing Non-card Accounts Misused
- Figure 15: Account Takeover Methods
- Figure 16: Fraudulent New Accounts Opened
- Figure 17: Fraudulent New Payment Accounts Opened
- Figure 18: Means of Access
- Figure 19: Incidence Rates of Transactional Fraud by Type
- Figure 20: Average Fraud Amount by Means of Access
- Figure 21: TJX Data Breach Timeline
- Figure 22: Percentage of Financial Institutions Meeting Safety
Criteria by Category
- Figure 23: Average Fraud Duration and Detection Time by Self- and
External Detection
- Figure 24: Average Fraud Lifecycles by Type
- Figure 25: Identity Fraud Lifecycles for Existing Card Fraud by Type
- Figure 26: Identity Fraud Lifecycles for Existing Network and
Store-branded Cards
- Figure 27: Mean Fraud and Consumer Costs for Store-branded Credit
Cards
- Figure 28: Means of Misuse
- Figure 29: Average Days of Misuse by Fraud Types
- Figure 30: Average Length of Misuse by Method of Access
- Figure 31: Average Days to Detect Fraud by Detection Method
- Figure 32: How Is Identity Fraud Detected?
- Figure 33: Average Fraud Amounts by Detection Method
- Figure 34: Methods of Detection by Fraud Type
- Figure 35: Average Consumer Costs by Detection Method
- Figure 36: Methods of Detection for Existing Credit and Debit Card
Fraud
- Figure 37: Average Dollar Fraud Amount by Detection Time
- Figure 38: Average Number of Hours to Resolve Fraud
- Figure 39: Types of Legal Actions Taken
- Figure 40: Incidence Rates and Average Fraud Costs by Income Levels
- Figure 41: Incidence Rates and Average Fraud Costs by Age
- Figure 42: Incidence Rates and Average Fraud Costs by Ethnicity
- Figure 43: Percentages of New Accounts Fraud Victims by Ethnicity
- Figure 44: Consumer Financial Behaviors
- Figure 45: Consumer Behavior Changes after Fraud Victimization
- Figure 46: Changes in Fraud Victims' Financial Behavior
- Figure 47: Victim Responses to Fraud by Age for 18-to-24-Years vs.
All Consumers
- Figure 48: Victim Responses to Fraud by Age for Seniors vs. All
Consumers
- Figure 49: Numbers of Victims before Weighting by Year
- Figure 50: Mean Dollar Value of Misappropriated Funds
- Figure 51: Three-Year Averaging of Fraud Amounts
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