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Submission + - Online Fraud Costs The Average Victim 631 Dollars (ibtimes.com)

gabbo529 writes: "President Obama, in releasing his new cyber security initiative, revealed the average victim of online fraud loses $631 out-of-pocket and it takes them over 130 hours for them to recover from having their identity stolen. The new initiative would introduce Online ID credentials; in the form of software on a smartphone or a smart card; and would store a single password, rather than forcing people to remember countless user names and passwords."
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Online Fraud Costs The Average Victim 631 Dollars

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