Contrary to some views, identity theft is
indeed about numbers and about money. A recent study by Meridian
Research makes the projection that by 2006 the financial
institution sector alone will lose $8 billion to identity theft.
In addition, an estimated 500,000 to 700,000 people a year
become victims of identity theft, and Federal Trade Commission
data show that nearly 86,000 people filed identity theft
complaints in 2001. Many of those people suffer significant
financial loss. Furthermore, when terrorists exploit identity
theft, the financial and human costs to society as a whole can
be catastrophic