FTC’s ID-Theft Report: No Measuring Stick

The Federal Trade Commission’s first launched its identity-theft surveys in 2003, and they have become landmarks in defining the magnitude of the challenge. The FTC’s latest survey is remarkable for being in stark contrast to the results of other recent, well-received ID theft studies by Javelin Research and Utica College.

The 2006 Identity Theft Survey (using data from 2005 polling) notes drastically lower reported losses than in 2003—only $15.6 billion, compared to $46.7 billion. The average amount obtained by thieves also differs markedly: $1,882 in 2005 versus $4,789 in 2003. But the FTC notes that these are non-comparable numbers, obtained by different methodologies. In the latest survey, the FTC tallied actual losses reported, whereas in the first survey the commission used the mid-point figures of a specific range of losses ($300 within a “$100 to $499” choice), which were filled out by surveyed victims.

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