Identity theft struck 8 million Americans in 2005. That number has only risen in the past 3 years, and McAfee estimated that malware, responsible for much of identity theft, rose a staggering 400% in 2008 alone. In fact, identity theft and credit fraud cost responsible folks a whopping $1 trillion in 2008. Imagine banks getting robbed for $1 trillion.
People would be outraged, but when thieves steal $500 here, $1,000 there, nobody panics, especially when the money is stolen electronically over the Internet. While most people only have small amounts of cash stolen from them, 10% of identity theft victims have $6,000 or more taken away from them. The best way to protect yourself is through purchasing an identity theft insurance policy.