The Risk of Identity Theft

According to the folks over the Privacy Rights Clearinghouse approximately 165 million data records of U.S. residents have been exposed due to security breaches since January, 2005. In 2007 there have been 278 breaches reported which account for over 75 million records.

Keep in mind that these numbers are for *reported* breaches by companies who are required to report such incidents. This only represents a small percentage of the number of businesses out there who might have your personally identifiable information.

Even if we take the 165M records number as being accurate, this means that we are all roughly at about a 50% risk of having our identities stolen as a result of these breaches! Granted, the information obtained could vary greatly from a hacker only obtaining your name and email address all the way to exposure of credit card numbers and your social security number. Both types are just as dangerous though. For example, if a hacker only obtains your name and email address they could use that information to send legitimate looking phishing messages to your inbox in an effort to get the rest of what they want.

So, what to do if you believe that your identity might have been stolen? Privacy Rights Clearinghouse has a comprehensive guide posted on their website which discusses not only how to pro actively stay on top of your credit (I would also recommend the Identity Theft Resource Center, but also things that you can do to prevent further damage from being done once your information does end up in the wrong hands.

One of the most important things to remember is that just because your data might have been compromised does not mean that you will be a victim of identity theft. Unfortunately, there is little that you can do to prevent this sort of thing from happening, but it is important, however to remain diligent in order to minimize how it will affect you.