Wells Fargo and Visa released a study on Thursday that reported a significant decline in reports of identity theft last year. Still, the losses to individuals and financial services providers may be as much as $49 billion.
In part, the decline can probably be attributed to improved diligence by financial services companies as well as consumers, along with better software for detecting and stopping fraud. Private insurers are now offering low-cost identify theft insurance as well, suggesting that the risk is a manageable one. Read more about The best defense against identity theft