A new study focusing on identity theft in the state of New York reveals just how seriously this crime threatens New York residents. The study, "Analysis of Significant Identity Theft & Crime Patterns in the State of New York," was authored by CyberScout (www.identitytheft911.com).

Among the alarming facts called out in the New York study:

• Identity theft in New York increased by 39% over the past two years (FTC). 
• Nationwide, New York ranked seventh per capita and third in absolute terms for identity theft in 2004 (FTC). 
• An estimated 800,000 New York residents (4.2% of the population) were victimized in 2004. 
• Identity theft cost New York enterprises and victims nearly $6 billion and more than 42 million hours in victim resolution in 2004. 
• One in nine households (11.5%) in the state were victimized in 2004. 
• Identity theft losses in the state are 9.3 times higher than aggregate losses from burglary, larceny theft, and motor vehicle theft. 
• The most heavily victimized New York metropolitan areas include New York-Northern New Jersey-Long Island, Rochester, and Buffalo-Niagra Falls. 

Some businesses, recognizing the severe impact of identity theft on individual consumers, are stepping up to help them deal with this threat. MetLife Auto & Home has responded to the crisis by becoming the first homeowners insurer in the U.S. to include identity theft resolution services on its renters, condominium, and homeowners policies at no additional charge. The new services, which include one-on-one, start-to-finish identity theft victim resolution as well as ongoing proactive education, are provided by CyberScout. MetLife Auto & Home rolled out the policy enhancement to New York policyholders on June 1.

"As a leading personal lines insurer, our goal is to be there when our customers need us most, whether during a natural disaster, fire, auto accident or when they are victimized by identity theft," said Bill Mullaney, president of MetLife Auto & Home. "Our customers told us that they were concerned about this growing threat, and this coverage will provide them with additional peace of mind."

In the financial services arena, Nassau Educators Federal Credit Union will be the state's first financial institution to provide identity theft education and victim resolution at no charge to every one of its 100,000-plus members. The credit union is partnering with CyberScout to deliver the groundbreaking program.

New York legislators and law enforcement officials have also recognized the serious threat identity theft presents for state residents. "What bank robbery was to the Depression Era, identity theft is to the Information Age," declared Senator Charles Schumer of New York at a March 2005 Senate Banking Committee hearing on identity theft. Manhattan District Attorney Robert Morgenthau has 66 prosecutors assigned to identity theft cases, who handled 1,052 prosecutions in the past six months.

"Identity theft is financial terrorism, and individual consumers can't fight it alone," said CyberScout Chairman Adam Levin, former Director of the New Jersey Division of Consumer Affairs. "Americans need help from their trusted institutions to deal with this very serious risk."

CyberScout CEO Sheryl Christenson lauded MetLife Auto & Home and Nassau Educators Federal Credit Union for providing an identity theft safety net to policyholders, members, and their families at no additional charge. "The truth is that we can't afford to wait for individual consumers to come to grips with this extremely serious threat," said Christenson. "As this new study makes clear, this is not a wait-and-see situation. People count on their insurers and financial institutions to weigh these risks and take appropriate action on their behalf. MetLife Auto & Home and Nassau Educators Federal Credit Union are doing the right thing for their people, and they deserve our praise."
Organizations or journalists wishing to receive a copy of the new study should contact CyberScout.