The FTC has updated its 2003 survey on identity theft. The new survey finds that identity theft is still a big problem. FTC Releases Survey of Identity Theft in the U.S. Study Shows 8.3 Million Victims in 2005. The study found that 1.8 million adults, or nearly one in a hundred Americans, were victims of new-account fraud, which is the worst form of identity theft in many ways, because you never had a relationship with the institution where the fraud took place, and only find out when your name's been wrecked. The others were victims of fraud on existing credit and debit cards, cell phone accounts, etc. Industry apologists will try to claim that the 8.3 million is a decline from the 2003 report's 10 million plus victims. This FTC report makes it clear that the change is not statistically significant.

The new FTC study shows that all the corporate promises of stronger security measures appear to be failed promises, because they've failed to reduce identity theft. Until Congress enacts laws that gives consumers stronger rights to hold creditors and retailers accountable when their sloppiness contributes to identity theft and fraud, expect identity thieves to keep winning.