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Technology
Do you know the true cost of identity theft?
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Identity theft tied to major data broker breaches has cost Americans more than $20 billion over the past decade, according to a 2026 report from the U.S. Senate Joint Economic Committee.
That figure comes from just four breaches: Equifax (2017), Exactis (2018), National Public Data (2023) and TransUnion (2025). The estimate applies federal identity-theft loss data, including a typical loss of about $200 per victim, across hundreds of millions of exposed records.
The result is a multibillion-dollar total. It’s also a narrow one. The calculation shows reported financial losses. It doesn’t account for damaged credit files, delayed loan approvals, higher borrowing costs or the hours consumers spend restoring their financial records after misuse.
So where does that leave you?
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HOW DEBIT CARD FRAUD CAN HAPPEN WITHOUT USING THE CARD
Massive data breaches at Equifax, Exactis, National Public Data and TransUnion exposed personal information that criminals later used for identity theft and financial fraud. (Nastasic/Getty Images)
What this median leaves out
The $200 figure used in the federal estimate is a median. It marks the midpoint of reported identity theft losses collected by the FTC. Many cases fall above it. FTC Consumer Sentinel data shows that losses swing widely depending on how the fraud happens. When money is moved through bank transfers or payment apps, reported median losses are markedly higher than in cases involving unauthorized credit card charges.
Loan or lease fraud can leave you with balances that need formal disputes before lenders correct the record. Reversing a charge doesn’t automatically restore a credit file. Accounts opened in your name can generate hard inquiries.
Missed payments linked to fraudulent loans can appear before the account is identified as fraudulent. And lenders reviewing a mortgage or auto application evaluate the report as it exists at that time. A $200 median captures a reported dollar amount. It falls short of showing how identity misuse can stifle borrowing terms or access to credit later.
The time cost of identity theft
After identity theft, the first step the FTC directs you to take is to file a report at IdentityTheft.gov. That generates a recovery plan and an identity theft report, which can be used to dispute fraudulent accounts. This is your starting point, and not anywhere close to a resolution.
Victims are instructed to contact each affected creditor directly, close or freeze compromised accounts and request written confirmation that the account was fraudulent. If a new line of credit was opened, that often requires submitting more documentation, completing affidavits and following up until the lender updates its reporting to the credit bureaus.
The FTC also advises placing a fraud alert with one of the three nationwide credit bureaus, which must notify the others. A credit freeze must be placed separately with each bureau. If you later apply for credit, they must temporarily lift the freeze before lenders can access your credit report. The Identity Theft Resource Center (ITRC) reports that victims frequently spend weeks resolving cases involving new account fraud. Complex cases can stretch even longer, especially when collection agencies become involved or when fraudulent tax returns trigger IRS identity verification.
1 BILLION IDENTITY RECORDS EXPOSED IN ID VERIFICATION DATA LEAK
An identity theft victim in Albany, New York, looks over documents he’s gathered. Victims of identity theft frequently spend weeks disputing fraudulent accounts, contacting lenders and restoring their credit reports after stolen data is misused. (John Carl D’Annibale/Albany Times Union via Getty Images)
During that period, you may be gathering records, mailing certified letters, waiting on hold with creditors or tracking dispute deadlines. The process moves at the pace of institutional review. All this time required to repair records is part of the cost of your stolen identity.
Earlier this year, a 57-year-old woman in Los Alamitos, California, discovered her identity had been stolen after receiving a voicemail from a Hertz rental location in Miami asking when she planned to return a Mercedes-Benz. She had never rented the vehicle, reported $78,500 in losses and spent nearly 10 days trying to recover from a single stolen ID.
Here’s where identity theft becomes more expensive
In its March 2025 Consumer Sentinel Network release, the FTC said consumers lost more than $12.5 billion to fraud in 2024, a 25% increase from 2023. Identity theft made up a large share of those reports. When misuse goes undetected, it spreads.
A stolen Social Security number can be used to open multiple accounts over time. Hard inquiries appear across different credit bureaus. New lenders and collection agencies show up, and each additional account adds another dispute you need to resolve. Identity theft often doesn’t stop after the first incident.
The ITRC says 31.5% of general consumer victims were targeted twice in a year, and 24.6% were hit three times last year. Even though fewer people reported a first-time identity theft, repeat targeting is becoming more common. Once your information is exposed, it can be used again. Losses can grow fast, too.
The same ITRC report found that more than 20% of victims reported losses exceeding $100,000. As the fraud spreads, so does the cleanup. What starts as a single unauthorized account can turn into disputes with lenders, credit bureaus and collection agencies. That buildup over time is where identity theft becomes more expensive.
How identity theft protection and credit monitoring can help
If you rely on occasional credit checks or alerts from a single bank, you’re only seeing activity tied to one account. If fraud appears elsewhere, it may not surface until a lender flags it.
Identity protection services can track activity across all three major credit bureaus and alert you to new inquiries or accounts as they appear. Some also scan breach datasets for exposed personal identifiers, including Social Security numbers and email addresses. Earlier alerts mean fewer fraudulent accounts can accumulate before you step in.
5 MYTHS ABOUT IDENTITY THEFT THAT PUT YOUR DATA AT RISK
Identity theft tied to major data broker breaches has cost Americans more than $20 billion over the past decade, according to a Senate report. (Sara Diggins/The Austin American-Statesman via Getty Images)
Many services provide three-bureau credit monitoring and real-time alerts when there are changes to your credit report. Some also scan known data breach records for exposed personal information and connect members with fraud resolution specialists who help with documentation and disputes. Certain plans include identity theft insurance that can help cover eligible recovery costs, subject to policy limits.
Monitoring does not prevent every identity theft attempt. It can reduce how far fraud spreads and how long it takes to contain it.
See my tips and best picks on Best Identity Theft Protection at Cyberguy.com.
Kurt’s key takeaways
The numbers tied to major data broker breaches show just how expensive stolen information can become. A single exposed record may seem harmless at first, but once that information spreads through the data broker ecosystem, it can resurface again and again. For many victims, the real damage is not just the money lost. It is the time spent disputing accounts, repairing credit files and trying to stop fraud from spreading further. Identity theft rarely happens in one clean event. It often unfolds slowly as criminals reuse the same stolen details across multiple lenders, services and databases. The good news is that you are not powerless. Monitoring your credit, limiting how widely your personal information appears online and responding quickly to alerts can reduce the damage if your information is misused. The earlier you catch suspicious activity, the easier it is to stop it before it spreads.
Have you ever checked your credit report or searched your name online and found information about yourself that surprised you? Let us know by writing to us at Cyberguy.com.
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Copyright 2026 CyberGuy.com. All rights reserved.
YouTube Shorts is rolling out a new AI-powered feature giving creators an easy way to realistically clone themselves on camera. The launch, hinted at earlier this year, reflects the platform’s fraught relationship with AI-generated content, adding more generative features while struggling to contain AI slop, deepfake scams, and impersonations.
YouTube says the new tool will let users create a digital version of themselves, called an avatar, that can be inserted into existing Shorts videos or used to generate entirely new ones. The company said avatars will “look and sound like you,” framing them as a safer and more secure way to use AI to create new content.
Creating an avatar is a bit more involved than simply pressing a button, but it sounds fairly straightforward. In a blog post outlining the process, YouTube said users must first record a “live selfie” capturing their face and voice while following a series of prompts. For the best results, the company recommends good lighting, a quiet area, a background free of other people or images of faces, and holding the phone at eye level.
Once avatars are made, users can select “make a video with my avatar” while creating a video to generate a clip from prompts, which can be up to eight seconds long, according to 9to5google. Users can also add their avatar to “eligible Shorts” in their feed, though YouTube did not specify what makes a Short eligible.
The AI avatar feature comes with fairly tight restrictions. They can only be used in the creator’s own original videos, who also control whether their Shorts can be remixed. The creator can delete their avatar or videos where it appears at any time, YouTube says. Avatars that aren’t used to create new content for three years will be automatically deleted.
Not everyone will be able to use the feature immediately. YouTube says the tool “will be rolling out gradually,” though it did not give a timeline or indication of where it will be available first. Creators must also be at least 18 and own an existing YouTube channel, the company says.
Its arrival comes as one of Google’s main AI rivals, OpenAI, pulls back from video generation. The startup said it was sunsetting its Sora video tool last month after a year of struggling to get the wannabe social platform off the ground. It was costly and faced a parade of copyright challenges, deepfake controversies, and slop that made it an unattractive bet for investors ahead of an anticipated IPO this year.
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You see a charge you don’t recognize. It looks like it came from a trusted brand. Your instinct kicks in. You want to fix it quickly and move on. That’s exactly what happened to Dorothy.
After a simple text, she found herself on the phone with someone who sounded official, confident and completely convincing. Here’s how she described it:
“I received a text from APPLE Pay, which I don’t even use… It said an Apple Store in CA wants to charge me $144… If I have questions, I should call. DUH! I called and was speaking with the scammer.”
“I received a text from APPLE Pay, which I don’t even use… It said an Apple Store in CA wants to charge me $144… If I have questions, I should call. DUH! I called and was speaking with the scammer.”
Within minutes, the situation escalated.
“He knew everything about me… He said I should take out $15,000… He said he was working with the FBI and the FDIC.”
That’s when the pressure really started. Dorothy told me this story when she joined me on my Beyond Connected podcast, and what happened next shows just how far these scams can go.
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10 WAYS TO PROTECT SENIORS FROM EMAIL SCAMS
The text sent to Dorothy shows how a fake Apple Pay alert uses urgency and a phone number to pull you into a scam. (Kurt “CyberGuy” Knutsson)
How this Apple Pay text scam actually works
This scam follows a pattern that is becoming more common. It combines a fake alert with a live phone call designed to build trust fast.
Here’s what is happening behind the scenes:
Step 1: The fake charge alert
You get a text about a suspicious charge. It looks urgent. It often includes a number to call.
Step 2: You call the scammer
The number connects you directly to a criminal. They pose as Apple, your bank or even law enforcement.
Step 3: They build credibility
They may know your name, address or bank. That information often comes from past data breaches.
Step 4: They create fear and urgency
You are told your money is at risk. You need to act immediately.
Step 5: They control your next move
In Dorothy’s case, the scammer told her to withdraw $15,000 and lie to her bank about why.
“He said he would stay on the phone with me while I drove to the bank… If anyone asked, I should say I was buying a car.”
That is a major red flag.
PHISHING SCAM EXPLOITS APPLE MAIL ‘TRUSTED SENDER’ LABEL
Once you call, scammers pose as trusted companies or agencies and pressure you to act quickly. (Kurt “CyberGuy” Knutsson)
The moment everything could have gone wrong
Dorothy drove to the bank with the scammer still on the phone. This is exactly what criminals want. They try to isolate you and keep control of the situation.
But something didn’t feel right.
“When I got to the bank, I recognized one of the employees and told her that I was uncomfortable… She said to hang up immediately.”
That decision changed everything.
The bank confirmed it was a scam. The calls kept coming from different numbers. Dorothy blocked them all. Fortunately, no money was lost.
Why the Apple Pay text scam feels so real
Scammers are getting better at one thing. They make you feel like you are solving a problem, not being scammed.
Here’s why this one works so well:
- It uses a trusted name like Apple Pay
- It creates urgency with a fake charge
- It moves quickly to a live conversation
- It uses real personal details to build trust
- It pressures you to act before you think
They also add authority. Claiming ties to the FBI or FDIC makes people feel like they must comply. In reality, no legitimate agency will ever ask you to move money this way.
The biggest red flags to watch for
If you remember nothing else, remember these:
- A text about a charge that tells you to call a number
- Someone is asking you to withdraw large amounts of cash
- Instructions to lie to your bank or keep a secret
- Claims that your money needs to be “protected”
- Pressure to act immediately
Each one is a warning sign. Together, they confirm it is a scam.
The biggest red flag is being told to move money or keep secrets from your bank or family. (Kurt “CyberGuy” Knutsson)
How to stay safe from Apple Pay text scams
You do not need to outsmart scammers. You just need to slow the situation down.
1) Never trust the number in the message
If you get a suspicious text, do not call the number provided. Look up the official number yourself.
2) Pause before you act
Scammers rely on urgency. Take a moment. Real companies will not rush you like this.
3) Never move money on someone else’s instructions
No bank, tech company or government agency will ask you to withdraw cash to “protect” it.
4) Use strong antivirus software
Strong antivirus software can help detect malicious links, block scam websites and warn you before you engage with risky content. Get my picks for the best 2026 antivirus protection winners for your Windows, Mac, Android and iOS devices at Cyberguy.com.
5) Remove your personal data from the web
Scammers often use data from breaches to sound convincing. A data removal service can help reduce your exposure and limit what criminals can find about you online. Check out my top picks for data removal services and get a free scan to find out if your personal information is already out on the web by visiting Cyberguy.com.
6) Talk to someone you trust
A quick conversation with a friend, family member or bank employee can stop a scam cold.
7) Add extra protection
Consider identity monitoring services that alert you if your information is being misused. See my tips and best picks on Best Identity Theft Protection at Cyberguy.com.
What to do if this happens to you
Even if you did not lose money, take a few steps right away:
- Contact your bank using the number on your card
- Place a fraud alert on your credit
- Consider freezing your credit
- Monitor your accounts closely
- Block any follow-up calls or texts
These steps help protect you from future attempts.
What this means for you
This scam did not begin with a complex hack. Instead, it started with a simple text. That is what makes it so dangerous. At first, it looks routine. Then urgency takes over. As a result, anyone can feel pressured to act quickly and without thinking.
In many cases, the situation feels real. That is how people get pulled into a conversation that seems legitimate. In Dorothy’s case, she trusted her instincts at the right moment. Because of that decision, fortunately, she did not lose $15,000.
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Kurt’s key takeaways
Scammers target more than technology. They focus on human behavior. They create pressure, build trust and keep you engaged long enough to make a mistake. However, you can break the cycle. A single pause can disrupt the scam. Asking one question can expose it. Even a quick conversation with someone you trust can stop it. If you’d like to hear more of Dorothy’s story, you can catch our full conversation on my Beyond Connected podcast at getbeyondconnected.com/
If you got a text like this right now, would you pause or would you call? Let us know by writing to us at Cyberguy.com.
Sign up for my FREE CyberGuy Report
Get my best tech tips, urgent security alerts and exclusive deals delivered straight to your inbox. For simple, real-world ways to spot scams early and stay protected, visit CyberGuy.com – trusted by millions who watch CyberGuy on TV daily. Plus, you’ll get instant access to my Ultimate Scam Survival Guide free when you join.
Copyright 2026 CyberGuy.com. All rights reserved.
I’m back after being waylaid last week by the deadly combo of a moderate cold and the beginning of pollen season. (Twenty-one percent of the District’s acreage is taken up by public green space, and DC is consistently ranked the best city park system in America. Unfortunately, I am allergic to every tree and grass.) If you’ve got tips on anything I may have missed or anything I should know about the upcoming weeks, send ’em to tina.nguyen+tips@theverge.com.
Do you actually believe anything OpenAI says?
On Monday, OpenAI published a 13-page policy paper addressing the impact that artificial intelligence would have on the American workforce. The company also proposed what it believed was the solution: putting higher capital gains taxes on corporations replacing their workers with AI and using that money to create a bigger public safety net. Its solutions included a public wealth fund, a four-day workweek funded by “efficiency dividends,” and government programs to help transition workers into “human-centered” work, all financed by the abundance that artificial intelligence would deliver.
Unfortunately, it was released the day that The New Yorker’s Ronan Farrow and Andrew Marantz published a meticulously reported, 17,000-word-plus article chronicling Sam Altman’s history of lying to everyone around him, including to his Silicon Valley backers, his employees, his board, and — relevant in this case — lawmakers trying to regulate AI. The New Yorker article reinforced a long-standing narrative about Altman, and OpenAI by extension: They may spout idealistic values, but would quickly jettison them for financial and political gains.
On its own, said several people I spoke to, the paper was a net positive to AI governance overall, in that it introduced new ideas into the political discourse around the emerging technology. But unless the company’s policy and political influence made good on those promises, said OpenAI’s critics, it may as well just be a piece of paper.
“My guess is that there are people on the team who care about the stuff, who’ve thought really hard about this document and are proud of it, and did good work, even if it’s not addressing all of the questions that I wish it would address,” Malo Bourgon, the CEO of the Machine Intelligence Research Institute (MIRI), told me. “And there’s still the question of: Are those people gonna find themselves in the position that many previous people at OpenAI have found themselves in, where they thought the company had certain values or aligned with things they cared about, and then ended up finding out that wasn’t the case, becoming disenchanted and leaving?”
With OpenAI proposing policy, it’s worth looking back at its history with the government, which the New Yorker piece details in depth. Altman had been one of the first major CEOs to publicly advocate for federal oversight for AI, going so far as to propose a federal agency to oversee advanced models in 2023 — but privately he worked to suppress the laws containing his own safety proposals. A state legislative aide in California accused OpenAI of engaging in “increasingly cunning, deceptive behavior” to kill a 2023 AI safety bill that it was publicly supporting. In 2025, the company subpoenaed supporters of a California state-level AI bill in an effort to, as one such supporter put it to The New Yorker, “basically scare them into shutting up.” And though Altman had once worked extensively with the Biden administration to build AI safety standards, the moment that Donald Trump became president, Altman successfully persuaded him to kill the initiatives he’d once advocated for.
Nathan Calvin, the general counsel at Encode, an AI policy nonprofit where he focuses on state legislative initiatives, had received one of those subpoenas. “What I’ve seen from their policy and government affairs engagement has just been abysmal,” he told me. While he believed that the team who’d written the OpenAI proposal, primarily from the technical safety research side, was acting with good intentions, he was still reserving judgment. “Will those folks remain engaged as we move from general policy principles towards the many other ways in which lobbying and government influence actually happens? Part of me is hopeful, but a lot of me is also quite skeptical about whether that will happen.” (OpenAI did not return a request for comment.)
A modest, absolutely not craven request:
Next week I plan on running an issue of Regulator cataloging the nerdiest events happening during Nerd Prom, aka the White House Correspondents’ Dinner party circuit. If you’re a tech founder, tech company, or someone that does something related to technology and you’re throwing an event during WHCD week, please let me know what you’re up to! From what I’ve heard so far, the tech world is about to shake up the normal social dynamics of the week — I’ve already caught wind of the Grindr party in Georgetown, and the Substack party, which famed looksmaxxer Clavicular is attending — and I’m so, so excited to pull together the most bonkers “SPOTTED” column that Washington’s ever experienced.
(Again, this is contingent upon whether we’re at war with Iran by the end of April, in which case, I imagine no one will be up for frivolity.)
Speaking of DC reporters, this is very true of all of us:
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