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16. 6 million. That's the number of people who experienced identity theft in the year 2012, the last year of available data from the BJS. Identity theft cost Americans $10 billion more last year than all other property crimes in 2012. 85% of theft incidents involved the fraudulent use of existing accounts, rather than the use of somebody's name to open a new account. Americans who were in households making $75, 000 or more were more likely to experience identity theft than lower-income households. Identity theft scams account for an annual total loss of about $264. The ways that someone can steal another's identity today are numerous. From fraudulent tax returns to the opening of a new credit card in someone's name to make a purchase, personal data is almost worth more than gold itself in the right hands. Although there are laws in place that limit some liability when accounts are stolen or fraudulently opened, the time it takes to repair that damage can be lengthy. Ultimately the biggest cost of identity theft isn't the money, but the time that it takes from people.
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