US: Most and Least Vulnerable States to Identity Theft and Fraud In 2024
A new study by Scrapingant.com found the Most and Least Vulnerable States to Identity Theft and Fraud, 2024.
Scrapingant.com fScrapingant.com found that Nevada ranked 1st among the most vulnerable states to identity thefts and frauds. Nevada experiences the highest financial losses in the nation, with $3.56 million in fraud losses per 100,000 residents, totaling approximately $113.6 million.
On the contrary, Kentucky is ranked 1st among the least vulnerable states to identity thefts and frauds, experiencing $1.2 million in fraud losses per 100,000 residents, totaling approximately $52.4 million.
The study ranked U.S. states’ vulnerability to identity theft and fraud using data from the FTC’s 2023 Consumer Sentinel Network Data Book. The analysis involved five weighted metrics: identity theft reports, fraud reports, fraud losses per capita, median fraud losses, and the percentage of fraud reports with financial losses. States were scored out of 100 based on these metrics to determine their overall vulnerability.
Key Findings
- 5.4 Million Complaints in 2023: Almost 5.4 million identity theft and fraud complaints were reported in 2023, averaging 14,773 complaints daily.
- Top Three Most Vulnerable States: Nevada, Florida, and Georgia are the most vulnerable states to identity theft and fraud.
- Top Three Least Vulnerable States: Kentucky, South Dakota, and Vermont are the least vulnerable states to identity theft and fraud.
- Significant Increase Over a Decade: Identity theft and fraud reports have increased by 51.39% over the past 10 years (2014 to 2023).
- $10 Billion Lost in Fraud Reports: Of the 2.6 million fraud reports in 2023, 27% reported a total loss exceeding $10 billion.
Identity Theft and Fraud Statistics, 2024
5.4 Million Identity Theft and Fraud Complaints Reported in 2023
In 2023, almost 5.4 million identity theft, fraud, and other consumer complaints were reported. This means 14,773 complaints are reported every day in America for identity theft and fraud activities.
1,610 People Affected per 100,000 Residents
At least 1,610 people per 100,000 residents in America are affected by identity theft or fraud incidents. This highlights the widespread impact of these crimes.
51.39% Increase in Reports Over 10 Years
The number of identity theft and fraud reports has increased by 51.39% over the last 10 years, from 2014 to 2023. This significant rise shows the growing prevalence of these crimes.
Top Three Reported Categories
Of all the complaints, Identity Theft, Imposter Scams, and Credit Bureaus, Information Furnishers, and Report Users were the top three reported categories. They accounted for 19.23%, 15.84%, and 13.20% of the complaints, respectively.
Breakdown of Report Types
- Fraud Cases: 47.6% of all reports were fraud cases, including Imposter Scams, Online Shopping and Negative Reviews, Prizes, Sweepstakes, and Lotteries.
- Identity Thefts: 19.23% of all reports were identity thefts, including Credit Card and other Identity Theft, Loan or Lease, and Bank Account fraud.
- Other Categories: 33.6% of all reports fell into other categories, such as Credit Bureaus, Information Furnishers and Report Users, Banks and Lenders, auto-related issues, and Debt Collection.
$10 Billion Lost in Fraud Reports
Of the 2.6 million fraud reports, 27% reported a total loss of over $10 billion. This underscores the substantial financial impact of fraud on consumers.
Most and Least Vulnerable 5 States to ID Theft
Most Vulnerable: Georgia is the most vulnerable state to identity theft with 441 identity theft reports per 100,000 residents, totaling 48,606 reports.
Least Vulnerable: South Dakota is the least vulnerable state to identity theft with 91 reports per 100,000 residents, totaling 833 reports.
States with Highest and Lowest Fraud Losses
Highest Fraud Losses: Nevada tops the list with a staggering $3.6 million in fraud losses per 100,000 residents, totaling $113.6 million in total fraud losses.
Lowest Fraud Losses: Louisiana has the lowest per capita fraud losses at $1.0 million, with total losses of $46.9 million.
Source: Scrapingant.com
Via: norvanreports
