Report: Identity Theft in 2002 Cost U.S. $53B, Canada $2.5B
A binational working group on cross-border mass-marketing fraud reported to the U.S. Attorney General that identity theft accounted for about $53 billion in losses to individuals and businesses in the U.S. in 2002. The Canadian Minister of Public Safety and Preparedness learned Canada lost $2.5 billion that year. Survey results indicate public confidence is being shaken because of data security breaches and privacy intrusions.
Identity theft costs billions, London Free Press, March 24, 2005.
