5 surprising identity theft facts you need to know

Identity theft isn’t a new concept. In fact, it’s been around for centuries. One early example dates back to 1605, when Grigory Otrepyev posed as the murdered Tsarevich Dmitry I and used that false identity to rise all the way to the Russian throne.

Fast-forward to today, and identity theft looks very different. Thanks to the digital world, this crime keeps evolving in ways most people don’t expect. Thieves aren’t impersonating royalty anymore, but the tactics they use now can be just as surprising.

Identity theft is much more common than you think

For most people, identity theft is just a concept instead of a fact of life. If you haven’t experienced identity theft directly, it may seem like something that doesn’t happen all that often. But this couldn’t be further from the truth.

In fact, there were over 1.1 million identity theft complaints in 2024, an almost 10 percent increase from the year prior. And that’s just the tip of the iceberg: according to Javelin Strategy & Research, an estimated 18 million Americans fell victim to traditional identity fraud in 2024 (plus another 20 billion dollars lost through scams) with losses totaling $47 billion—showing that millions more incidents go unreported to the FTC.

With those kinds of numbers, it can be hard to truly conceptualize how common identity theft is, so let’s put it another way: with over 3,000 identity theft reports per day, that means that someone is a victim of identity theft every 29 seconds.

Identity theft doesn’t just target the elderly

People often associate identity theft with the elderly based on a range of factors. And although the elderly experience higher average losses to identity theft when compared to other age groups, they aren’t the group that is at the highest risk for identity theft. The group facing the greatest risk of identity theft are actually adults ages 30-39.

Considering that those in this age group are digital natives and have been using the internet from a young age, you might find this surprising. But several factors may contribute to their heightened risk: the sheer amount of personal information they share online, a broader digital footprint across apps and services, and the fact that they’re often navigating major life milestones—like new jobs, moves, or financial accounts—that require sharing sensitive data.

All of this creates more opportunities for identity thieves to access, misuse, or exploit their information. However, identity theft targets people of all ages, both young and old, and as the evidence has shown us, no one is immune to identity theft.

Identity theft can impact your work and personal life

While identity theft has an obvious effect on a person’s financial and mental wellbeing, there is also a hidden cost that isn’t often discussed: the impact on a victim’s career.

According to the Identity Theft Resource Center (ITRC), almost a third of consumers reported losing time at work due to dealing with identity theft, while 26 percent reported a lost employment opportunity. This lost time at work can come dealing with the logistics of identity theft, including contacting their banks and credit reporting agencies, filing paperwork with the police, and more.

Each year, over 12 billion workdays are lost to depression and anxiety. And when you consider that 82 percent of ITRC victims reporting feeling worried or anxious and 52 percent reported feeling depressed, you can see how the mental toll of identity theft could cause productivity losses at work.

This stress, anxiety, and depression can come from the victim’s fear of not recovering their money, the shame of falling victim to identity theft, or the devastating impact of having their credit report damaged beyond repair.

However, a loss of productivity and missed opportunities aren’t the only side effect of identity theft—it can also impact a victim’s relationship with their managers. In fact, almost a third of general consumers also reported a strained relationship with their boss, which can result in further issues at work.

Social media takeover is one of the biggest threats

When you think about identity theft, things like stolen Social Security numbers, medical identity fraud, and fraudulent loans often come to mind. However, you might be surprised to learn that, according to the ITRC, social media takeover is the top threat for consumers, with 35 percent of identity theft victims reporting this type of fraud.

This type of identity fraud might seem like a minor inconvenience—after all, it’s just a social media account. However, this kind of fraud can result in several serious repercussions. This includes:

• Damage to a victim’s reputation: The criminal can post inappropriate content on the victim’s profile.

• The theft of information: This includes email addresses, credit cards, or other information tied to their social media account, which they can then use to personalize phishing attacks or other scams.

• Other digital crimes: The criminal, posing as the victim, contacts their friends and family and steals information they can use in other crimes or even money.

• Damage to the victim’s employer: The criminal uses the social media account to gain access to workplace systems or posts damaging things about the company.

Identity theft is often a recurring issue

Identity theft can be a major disruption in a person’s life. Between the arduous process of filing paperwork and contacting the correct parties to resolve the issue and the emotional and mental toll, an identity theft incident can create months of stress and recovery work.

And what’s worse, many victims experience additional incidents after an initial identity theft incident. In fact, 71 percent of consumers who experienced identity theft experienced an additional incident, and 21 percent of ITRC victims reported being a victim of identity theft more than four times.

Because once your information is out there, these repeated identity theft incidents can result in several negative outcomes, including significant costs associated with the recovery effort or permanent damage to a person’s credit, which can prevent them from access to important financial services like loans.

How to protect your employees from identity theft

Fortunately, there are practical steps you can take to reduce the risk of employee identity theft. Here are three actions you can start implementing today to help safeguard your company’s greatest asset—your people.

Educate yourself and your leadership team

Protection starts at the top. Make sure you and your leadership team understand the risks identity theft poses to both employees and the organization. Stay informed about the latest schemes, warning signs, and prevention tactics so you can lead by example.

Keep employees informed

Many employees underestimate the threat of identity theft—and even fewer take proactive steps to protect themselves. Start an ongoing conversation about the risks and share practical tips for safeguarding personal information.

To make this easier, consider offering an identity protection benefit that provides regular updates on emerging threats and tactics, so employees stay informed without adding extra workload for your team.

Protect employee privacy

Education is essential, but it’s not enough on its own. Provide a comprehensive identity protection benefit to give employees the tools they need to secure their data. Be sure to choose a reputable provider, as coverage and features can vary widely.

To learn more about how Allstate Identity Protection can help educate your employees and protect their privacy, contact us today.