Identity fraud is defined as the unauthorized use of another person’s personal information for illicit financial gain. In 2019, there were 650,572 cases of identity theft. Those between the ages of 30 and 39 reported the most cases. One out of every three American adults have been victims of identity theft – and one in five more than once. Nearly 10% of our population experience this crime each year. In order to assume another person’s identity, criminals need only a name, employer, mother’s maiden name, social security number or credit card number. This information is sometimes obtained from merchants, discarded personal papers or by phony telemarketers. Increasingly, it is the vast amount of personal information people place on social networking websites that is frequently used to authenticate a person’s identity. Smartphone users have a one-third higher chance of their identities being stolen because most people don’t use passwords or they store their login information on their devices. The good news is that out of nearly 15 million identity fraud victims, 80% endured no out-of-pocket expenses due to the zero-liability policies of most financial institutions. Only about 7% of all identity theft victims incurred a personal financial loss greater than $100.

Pending Legislation: H.R.5594 - Protect Your PIN Act of 2025
Sponsor: Rep. Kristen McDonald Rivet, MI)
Status: House Committee on the Judiciary
Chair: Rep. Jim Jordan (OH)