Identity theft is a constantly evolving industry. Years ago, identity theft damages were limited to credit card fraud for unauthorized purchases. As banks and financial institutions adapted and put stronger preventative measures in place, thieves began using stolen Social Security number to open new lines of credit.
Javelin Strategy and Research, the primary source for research on identity theft statistics, recently published their 2013 report stating that there were over a million more victims of identity theft in 2012 than in 2011. This means that 12.6 million Americans in the U.S. became victims last year, resulting in more than $21,000,000,000 in damages.