Amid the challenges posed by COVID-19, there is also a higher risk of identity theft. Last year, we received approximately 1.4 million reports of identity theft, double the number in 2019. Identity thieves have repeatedly targeted government funds earmarked to help individuals and small businesses hit hard by the pandemic. Understand identity theft in the age of COVID-19.join us Identity Theft Awareness Week, February 1-5.
Federal Trade Commission and its partners A series of free events will be co-hosted. A webinar hosted by the Identity Theft Resource Center (ITRC) will focus on identity theft during the pandemic. Experts from the AARP Fraud Watch Network and the FTC will answer your questions during the Facebook Live event.Furthermore, the FTC Identity Theft Program Director will join ITRC leaders Fraudster’s mistake Podcast talks identity theft trends and impact of COVID-19. For a complete list of events, please visit ftc.gov/IDtheftweek.
In 2020, the largest increase in identity theft incidents reported to the Federal Trade Commission was associated with a sharp decline in employment rates nationwide. after government Expand unemployment benefits to people who have lost their jobs due to the epidemic, Cybercriminals file for unemployment Use other people’s personal information. In 2020, we received 394,280 reports of government benefit fraud, the vast majority of which were reports of identity theft involving unemployment insurance benefits, compared to 12,900 reports in 2019.
People have also reported identity theft, with criminals using their business or personal information to obtain funds from a government-sponsored loan program designed to help small businesses survive the pandemic. People reported learning about the fraud when they received notices telling them it was time to repay loans they never applied for. Last year, we received 99,650 reports of fraud involving business or personal loans, compared with 43,920 reports in 2019 before the pandemic. While not all of these new reports can be attributed to government relief efforts, they accounted for a sizeable share of the increase.
People are telling us about identity theft involving federal stimulus payments to the IRS by reporting it as tax identity theft. The FTC received 89,390 reports of tax identity theft in 2020, up from 27,450 in 2019. While many reports involved other types of tax identity theft, the number of reports began to surge after stimulus payments began being distributed.
Later this month, we will release the Consumer Sentinel Network Data Book, which details all identity theft, fraud and other reports the FTC received in 2020. We will provide you with more information at that time. In the meantime, we hope you’ll join us for Identity Theft Awareness Week to learn more about identity theft during the COVID-19 emergency.
For specific tips on keeping your business information safe, check out Cybersecurity for Small Businesses. And, reviewing our guidance, Businesses must provide identity theft-related transaction records to victims and law enforcement, Understand your compliance responsibilities – and how you can help if someone trying to rehabilitate their reputation after identity theft asks you for transaction records.
