One in four identity theft victims never fully recover

July 26, TechWeb News — One in four identity theft victims never fully recover. Making things right after a stolen identity can take months and cost thousands, according to a survey of identity theft victims released Tuesday, July 26. Worse, in more than one in four cases, victims haven't been able to completely restore their good name.

The survey, conducted by Nationwide Mutual Insurance Co., found that 28 percent of identity thieves' marks aren't able to reconstruct their identities even after more than a year of work. More than half of the victims discovered the theft on their own by noticing unusual charges on credit cards or depleted bank accounts, but that took time: on average, five and a half months passed between when the theft occurred
and when it was spotted.

Forty percent of the victims polled named the police, their financial
institution, or their credit card issuer as the "most difficult" to work with when trying to revolve the problem. Poor customer service was cited as one of the more egregious problems encountered. A surveyed victim from Orlando, FL, for instance, noted: "The institution we do all of our banking with made us feel like we were the ones trying to 'pull' something."

Survey information: http://vocuspr.vocus.com/VocusPR30/Temp/Sites/2133/a1c28924f
2fd4ef8a9ba8373a0ebdcd3/national%20release.pdf
Source: http://informationweek.securitypipeline.com/news/166402691