Identity theft happens when someone uses your name or personal information without your permission. A recent study is unearthing some troubling new findings about the emotional impact of identity theft.

What You Need To Know

  • According to the Identity Theft Resource Center’s 2023 Consumer Impact Report, 16% of identity theft victims are experiencing suicidal thoughts

  • Identity theft can be devastating to your finances, with newly released Federal Trade Commission data showing that consumers reported losing more than $10 billion to fraud in 2023

  • Therapist Sara Correll works with victims of identity theft. She says it’s normal to feel a sense of violation, but taking active steps to solve the issue can help you move on

According to the Identity Theft Resource Center’s 2023 Consumer Impact Report, 16% of identity theft victims are experiencing suicidal thoughts.

Identity theft can be devastating to your finances, with newly released Federal Trade Commission data showing that consumers reported losing more than $10 billion to fraud in 2023. Identity theft also takes a toll on mental health. Fraud victims often report feeling sad or ashamed and can experience stress, anxiety or even depression.  

Eva Velasquez, president and CEO of the national nonprofit Identity Theft Resource Center, applauds the survey participants for speaking up. She hopes other people will do the same.

“We need to shine a bright, hot light on this issue, have more conversations about it and encourage the people that are experiencing this to not only talk about it with the people that they trust and even therapists. Seek out mental health counseling,” Velasquez said.

Therapist Sara Correll works with victims of identity theft. She says it’s normal to feel a sense of violation, but taking active steps to solve the issue can help you move on.

“Having your identity stolen, being a victim of fraud is a helpless feeling, and taking control of that empowers you to move forward and away from those suicidal or helpless thoughts,” Correll said.

Here are other steps to cope with the emotional impact of identity theft:

  • Confront all emotions. If you feel sad or angry, express it in a healthy way.
  • Focus on the crime, not the criminal. Do everything you can to clear your name and credit.
  • Consider mind-calming activities when you feel overwhelmed such as yoga, tai chi or meditation.
  • Give yourself grace as you navigate this tricky time. Anyone can be a victim of identity theft and many people recover from it.

To find more information and a place to report identity theft, visit identitytheft.gov or idtheftcenter.org.