Startling identity theft statistics have nervous consumers hankering for protection. Financial institutions are now scrambling for ways to provide such identity theft security. But not all identity theft plans are created equal. Being extra discerning with one's choices is advised by many consumer watchdogs.

Identity theft is considered the fastest growing crime in the United States today. The information explosion, aided by an era of easy-access credit, has given rise to the expansion of identity theft. The crime of identity theft feeds on the inability of people to control who has access to sensitive information and how it is safeguarded.

Identity theft statistics in the United States continue to rank amongst the leading concerns of consumers. This isn't surprising as identity theft statistics keep on climbing. Each year, more and more people fall victim to identity theft.

As with any crime, you can't guarantee you'll never become an identity theft victim. But you can minimize the risk of being part of this growing trend. The Federal Trade Commission (FTC) reported that there were 10 million cases of identity theft in 2002 alone. It’s estimated that someone’s identity is stolen every 79 seconds. The bad news is with increasing amounts of personal information available to an experienced identity thief, identity theft statistics show few signs of slowing down. The good news is that identity fraud is now a federal crime with stiff penalties for those who perpetrate these offences.

The stark reality behind identity theft statistics is that People whose identities have been stolen can spend months or years and thousands of dollars cleaning up the mess the thieves have made of a good name and credit record. Meanwhile victims of identity theft may lose job opportunities, be refused loans for housing or cars, and even get arrested for crimes they didn't commit.