This report examines the cost and impact of identity crime and misuse on the Australian economy for the 2018–19 financial year. The estimated cost of identity crime in Australia in 2018–19 (including direct and indirect costs) was $3.1b—17 percent more than in 2015–16. These findings demonstrate a considerable increase in the financial losses experienced by government, law enforcement, industry and individuals through both direct and indirect costs associated with identity crime. The results, combined with data collected from stakeholders, help policymakers raise awareness of identity crime and reduce its incidence and impact throughout Australia. Government, law enforcement and private sector industry cooperation and data sharing were essential in the preparation of this report.
Contents
- Abstract
- Executive summary
- Cost of identity crime
- Introduction
- Methodology
- Components of the cost of identity crime and misuse
- Direct costs
- Costs to Commonwealth government entities
- Costs to individuals
- Cost of serious identity crime
- Police-recorded identity crime
- Additional direct costs
- Summary of direct costs
- Indirect costs
- Public sector prevention and response costs
- State and territory police prevention and response costs
- Indirect costs to the private sector
- Indirect costs to individuals
- Conclusion
- Acknowledgements
- References
- Appendix: State and territory agency indirect costs