The Center for Identity at the University of Texas at Austin reminds us that the odds of dying in an airplane crash this year are approximately 1 in 11,000,000. The odds of your pre-18 child being abducted by a stranger are 1 in 1.5 million.
However, your odds of being an identity theft victim this year are 1 in 20. The odds of your child’s personally identifying information being misused before the child turns 18 are 1 in 40.
In 2012, the total monetary loss due to identity theft was nearly $25 billion dollars. The monetary losses from all property crimes that year, by comparison, totalled just $14 million.
Out of 28 million small businesses, just 44,000 filed for bankruptcy in 2013. However, at least 78% of all businesses experienced at least one data breach between 2011 and 2013.
The Center for Identity at the University of Texas at Austin accurately points out that most of us are worried about the wrong things. Identity theft is, for many people, as catastrophic an event as a kidnapping or property crime, and it’s far more likely to befall all of us.
Discover Additional HIPAA News