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Identity Theft Survey Report 2003 - New accounts opened by identity thieves.


· Among Identity Theft victims, 17% said the thief used the victim’s personal information to open at least one new account, such as new credit card accounts, new loans, new telephone service accounts, or some other new account.
 
· The most common new account obtained by the identity thief was a new credit card account. 8% of all victims – almost half of those whose personal information was used to open one or more new accounts – said that their information was used to open new credit card accounts.
 
· 5% of all victims – approximately one-third of those who said that their personal information was used to open new accounts – reported that the thief had obtained new loans using their information.
 
· 5% of all victims also said that their information had been used to obtain new telephone service – either wireless service or traditional landline. · New checking or savings accounts were obtained using the personal information of 3% of all victims – approximately one-fifth of those who had new accounts opened.
 
· New accounts were opened in less than 10% of cases when it took victims less than a month to discover that their information was being misused. New accounts were opened in 45% of cases when 6 months or more elapsed before the misuse was discovered. At least in part, this result may reflect the fact that quickly discovering that a new account has been created in a person’s name may be more difficult than discovering that an existing account is being misused. It may also suggest the likelihood that quick discovery reduces the risk that new accounts will be opened.
 
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