Identity fraud losses totaled $52 billion in 2021

A Javelin study reveals that traditional identity fraud losses totaled $52 billion and affected 42 million U.S. adults.

Among the trends observed were huge increases to account takeover fraud and new account fraud in which fraud operators deployed multiple tactics to steal victims’ personal information to drain them of billions of dollars.

When it comes to consumer attitudes towards security, 54% of fraud victims want their bank to offer a fraud prevention resource center to help them navigate and resolve their identity fraud. Consumers were also interested in getting more fraud prevention knowledge.

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