The Costs of Identity Theft, Cyber Crime

InformationWeek has reported that “With the help of a Secret Service case review, a Utica College study finds the median actual dollar loss for identity theft victims was $31,356.”

The study apparently quantifies the dollar value loss caused by cases of identity theft both from the impact to individuals as well as companies, which is a far more accurate assessment given the nature of most crimes. Of course, the total dollar value does not take into account the long-term social and emotional implications for victims.