the Fraudian Slip Podcast: Identity Theft Resource Center – 2024 Consumer & Business Impact Report by ITRC

ITRC COO James E. Lee and CEO Eva Velasquez break down the findings in the 2024 Consumer & Business Impact Report by ITRC

• The Identity Theft Resource Center (ITRC) recently released its 2024 Consumer & Business Impact Report, supported by Experian. The report explores the trends from the three distinct groups – ITRC Victims, General Consumers, and Small Business Leaders – and how identity misuse, data breaches and cyberattacks impact them.
• For the 2024 Consumer & Business Impact Report by ITRC, the ITRC surveyed 254 ITRC Victims, 1,031 General Consumers and 461 small business owners or executives at a company of 500 or fewer employees.
• According to the responses, reports from General Consumers of identity crimes jumped 21 percentage pointsfrom July 2023 to June 2024. Nearly 47 percent of victims who contacted the ITRC during the reporting period had been victimized more than once.
• The small business questionnaire reveals thatfewer than 20 percent of small businesses have not been the victim of a cyberattack, data breach or both in the past year. Financial losses grew dramatically in 2024 compared to previous years, with losses of more than $500,000 doubling in one year.
• ITRC COO James E. Lee and CEO Eva Velasquez sat down and discussed many of the findings in the 2024 Consumer & Business Impact Report by ITRC. You can learn more about the 2024 Consumer & Business Impact Report and other topics discussed by visiting our company website, org. You can download the report by clicking on our publicationstab.
• If you think you are the victim of an identity crime, call or text the ITRC toll-free (888.400.5530) or live chat on our webpage to speak with an expert advisor.

Below is a summary of our podcast with COO James E. Lee and CEO Eva Velasquez of the Identity Theft Resource Center

Welcome to The Fraudian Slip, the Identity Theft Resource Center’s (ITRC) podcast, where we talk about all things identity compromise, crime and fraud that impact people and businesses. Listen on Apple, Google, Spotify, SoundCloud, Audible and Amazon now. In the final week of Cybersecurity Awareness Month, the ITRC published one of its signature reports: the 2024 Consumer & Business Impact Report by ITRC, supported by Experian. We call it our CIBIR report to play on cybersecurity and cyber crimes because…well…that’s just how we roll.

The report focuses on the broad range of impacts of identity crimes against people and small businesses. It is chocked full of information about current and emerging trends. Some of the findings include:

ITRC COO James E. Lee and CEO Eva Velasquez sat down to talk about many of the findings. You can play the full podcast above in the media player. To read the full press release, click here. You can download the 2024 Consumer & Business Impact Report by ITRC by visiting www.idtheftcenter.org/publications or by clicking here.

If you think you have been the victim of an identity crime or want to avoid becoming a victim, you can speak with an ITRC expert advisor toll-free on the phone or text (888.400.5530), chat live on the web or send us an email during our normal business hours (6 a.m.-5 p.m. PT Monday-Friday). Just visit www.idtheftcenter.org to get started.

Thank you to Experian for supporting the report. Be sure to join us next week for our sister podcast, the Weekly Breach Breakdown, and next month for our final episode of the Fraudian Slip for 2024.