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Study: One Method of Identity Theft Trumps Cyber Threat

Much attention is paid to cyber theft, but the top source for identity theft turns out to be the wallet.

By Mark E. Ruquet | Updated on November 30, 2012
Much attention is paid to the theft of personal information over the Internet, but the number-one cause for identity theft turns out to be old-fashioned loss of personal effects, according to Travelers. 

A study released by the insurer says that in this era of digital information, 73 percent of cases of identity fraud result from burglary, stolen wallets and pilfered identifications. The study is based on Travelers claim data.

Travelers says “stolen or misplaced items, such as wallets and pocketbooks, accounted for the most common known causes for identity fraud.” In second place was a stolen or compromised license, Social Security card or other form of personal identification. Burglaries ranked third, followed by cyber breaches, including Internet scams and old-fashioned forgeries.

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