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. 

Three points worth highlighting: 

• The entire fraud ecosystem depends on frequent data breaches to capture consumer information necessary to commit identity fraud. Expect the staggering number of data breaches to continue in the new year.
• Even the most innocuous of websites can prove to be a treasure trove for fraudsters. A data breach of Neopets, an online gaming platform for children, resulted in a staggering 69,000,000 victims. 
• At Prove we know that many consumers are not aware that their identity has been exploited for fraud in identity theft situations. As more organizations adopt Prove’s solutions, we can have a positive impact on lowering the incidents and number of victims of identity theft.

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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