In 2015, the U.S. identity fraud victim count increased by 3% to 13.1 million, but the dollars stolen decreased by 6% to $15 billion, according to Javelin Strategy & Research's 2016 Identity Fraud Study.
Javelin, based in Pleasanton, Calif., also found that the rise of EMV made a significant impact on fraudsters' behavior, doubling the instances of new account fraud. In addition, many consumers who do not trust their financial institutions engaged in behavior that lowered their chances of discovering fraud.
The 2016 Identity Fraud Study pinpointed these four significant trends:
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Roy Urrico
Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).
