New Physical and behavioral Biometrics technologies with increased accuracy and security being developed

Identity theft is increasingly a 21st-Century problem. As more data moves off of physical paper and onto Internet-connected servers, the chances of that data getting stolen increases as well.

According to the FTC, there were 2.8 million fraud reports from consumers in 2021, a nearly 27% increase over the 2.2 million fraud reports in 2020. 26.4% of these were from people between the ages of 30 and 39, while just 4.7% were from people over 70 years old. People who use Facebook, Instagram, and Snapchat were particularly vulnerable. Users on these sites have a 46 percent higher risk of account takeovers and fraud than those not active on any social media networks.