Who are the Victims of Identity Theft? The Effect of Demographics

Abstract

Using the Federal Trade Commission's 2003 identity theft survey data, this article examines the relationship between a person's demographic characteristics and the likelihood of experiencing identity theft. Among other factors, the risk of identity theft appears to be higher for people with higher incomes, for younger consumers, and for women. A person's risk of being a victim of identity theft may depend, at least in part, on how many noncash accounts the consumer has and the intensity of their use. It may also depend on where the consumer conducts business and the precautions the consumer exercises. Because data to measure these factors directly are not available, differences in the risk faced by demographic groups may reflect differences in these considerations. This article should be of interest to those who are concerned with educating consumers about limiting identity theft risk and to law enforcement authorities.