One in 10 U.S. Adults Say They Have Been Victims of Identity Theft Since the COVID-19 Pandemic Began
September 10 2020 - 8:00AM
More than eight in 10 U.S. adults (83%) are concerned about having
their identity stolen and the level of distress of this crime
occurring has increased for nearly one-third (32%) of Americans
since the COVID-19 pandemic began. More alarmingly, since the onset
of the pandemic, 10% of U.S. adults report being a victim of
identity theft. The findings are part of a new survey conducted by
the public sector business of TransUnion (NYSE: TRU) released today
during the FedID 2020 virtual conference.
The survey of 2,108 U.S. adults on August 11, 2020, also
observed types of fraud that are impacting both government agencies
and consumers. Unemployment benefits and tax return fraud, among
others, are challenging for government agencies because consumers
have high expectations concerning the security of their
accounts.
More than 43% of survey respondents said both security and
convenience are equally important to them when accessing their
government accounts. Approximately 26% said security is more
important and 22% had convenience as being more essential.
“As federal and state government agencies support millions of
consumers impacted by the COVID-19 pandemic, it’s apparent that
fraudsters are gaining access to accounts and funds that are meant
to help individuals in need,” said Jonathan McDonald, executive
vice president of TransUnion’s public sector business unit. “During
these difficult times, it’s critical for government agencies to
provide secure, friction-right experiences to ensure citizens are
equipped to safely access their accounts or much-needed
benefits.”
Government fraud impacting youngest generations
most
Besides the respondents who said they were a victim of identity
theft, 11% said they were not sure if they have or have not been a
victim of identity theft. Gen Z (born 1995 or after) topped all
generations with almost 16% stating they’ve been an ID theft
victim. Gen Z also reported the highest propensity of government
accounts being taken over by someone else (15%) compared to 7% for
all generations.
While 7% of respondents said they’ve been a victim of
unemployment benefits fraud in 2020, the youngest generations once
again faced the greatest challenges. More than 16% of Gen Z
respondents said they’ve been a victim of unemployment benefits
fraud followed by Millennials (born 1980 to 1994) at 8%. The vast
majority of respondents who have been a victim of unemployment
benefits fraud have not resolved the problem.
Furthermore, a small percentage of respondents have either had
their 2019 tax return fraudulently filed (7%) or had their stimulus
check stolen (6%). However, Gen Z once again was an outlier with
13% having tax returns fraudulently filed and 12% having stimulus
checks stolen.
“Our findings make it abundantly clear that the youngest adults
are being targeted most by fraudsters. This is also one of the most
vulnerable populations with many just beginning their careers. At
the same time, these individuals also are tech savvy with the most
substantive online profiles, and that’s why it’s critical for
government agencies to provide secure, yet convenient opportunities
for this population to confirm their identity accurately,”
concluded McDonald.
TransUnion’s public sector business supports federal, state and
local agencies by providing mission-critical solutions to improve
citizen safety, manage compliance and boost services for
constituents. TransUnion’s fraud solutions unite both consumer and
device identities to detect threats across markets, fusing
traditional data science with machine learning to provide
businesses and government agencies with unique insights about
consumer transactions.
To access more information about the public sector survey,
please click here.
About TransUnion (NYSE: TRU)
TransUnion is a global information and insights company that
makes trust possible in the modern economy. We do this by providing
a comprehensive picture of each person so they can be reliably and
safely represented in the marketplace. As a result, businesses and
consumers can transact with confidence and achieve great things. We
call this Information for Good.®
A leading presence in more than 30 countries across five
continents, TransUnion provides solutions that help create economic
opportunity, great experiences and personal empowerment for
hundreds of millions of people.
http://www.transunion.com/publicsector
Contact |
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Dave Blumberg TransUnion |
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E-mail |
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david.blumberg@transunion.com |
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Telephone |
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312-972-6646 |
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