FTC: Identity theft rises sharply

Retailers looking for validation that their data privacy efforts matter can look to disturbing new figures from the Federal Trade Commission (FTC).



According to data released by the FTC, it received more than 490,000 consumer complaints about identity theft in 2015. This is a 47% increase from the number of identity theft complaints in 2014. The Department of Justice estimates that in total, 17.6 million Americans were victims of identity theft in 2014.



To help combat the rising identity theft epidemic, the FTC has launched a new site designed to be a one-stop online resource for victims. The upgraded IdentityTheft.gov website allows consumers to rapidly file a complaint with the FTC and then get a personalized guide to recovery that helps streamline many of the steps involved.



When a consumer initiates a response plan through IdentityTheft.gov, the site will automatically generate affidavits and pre-fill letters and forms to be sent to credit bureaus, businesses, police, debt collectors and the IRS. Should a consumer’s recovery run into issues, the site will suggest alternative approaches. Once a consumer completes their initial report on the site, they will receive follow up e-mails and can return to their personalized plan online to continue the recovery process.



“Millions of Americans have been victims of identity theft, and until now, there has not been a single site where they can quickly file an official complaint and then get real, personalized help,” said FTC chairwoman Edith Ramirez. “The FTC’s new IdentityTheft.gov website empowers consumers to fight back faster and more effectively against identity thieves.”



By no means are retail data breaches the only source of identity theft incidents, but they are a contributing factor. The FTC’s data on identity theft, as well as the need for this expanded online resource, are reminders that retailers need to make the investments in time and money to secure their enterprises as much as possible.