Authorities are reminding consumers during the holiday season about identity theft risks when shopping online and using credit or debit cards.
Retailers can also be impacted by identity theft. According to Lexis Nexis, retailers lose more then $100 billion in fraud losses each year, partially a result of identity theft.
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According to Consumer Reports Magazine, social media can also increase the likelihood of becoming a victim of identity theft.
During the last year, more than 5 million U.S. households experienced some type of abuse on Facebook, including identity theft.
But, according to the Sileo Group, which studies identity theft, increased chances of identity theft during the holidays is a misconception.
The group reported that—according to the 2009 Identity Fraud Survey by Javelin Research—cyber crime only accounts for 11 percent of identity theft fraud cases, with online shopping making up 1 percent.
