The staggering number of identity theft victims has reached a new high, with a recent report from the Identity Theft Resource Center (ITRC) revealing that the number grew to 422 million in 2022. The non-profit organization's comprehensive review of data breaches highlights the fact that the entire fraud ecosystem relies on frequent data breaches to capture consumer information, which is necessary for committing identity fraud. Even websites that seem harmless can be a treasure trove for fraudsters, as demonstrated by a data breach of Neopets, an online gaming platform for children, which resulted in 69 million victims.
As more organizations adopt identity verification solutions like Prove, there is hope for a positive impact on lowering the number of incidents and victims of identity theft. You can read the Identity Theft Resource Center’s annual breach report here.
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