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A recent report has summarized the data collected in 2001 by the Federal Trade Commission (FTC) in the Identity Theft Data Clearinghouse. The FTC processed 117,210 reports in 2001, 86,168 (74%) of which were from victims of identity theft; however, it is generally thought that these numbers do not reflect all the identity theft victims. The 2001data paints a broad picture of the forms identity theft can take, including credit card fraud, telecommunications or utility fraud, and bank fraud. Banks should take notice that over 11,000 people, or 13% of all victims, reported fraud on their checking or savings accounts. About 6% of all victims reported fraudulent checks written on their existing account, 3% reported a new bank account opened in their name, and 2% reported unauthorized electronic withdrawals from their accounts; the rest of these complaints were not specific. Moreover, seven percent of all victims reported that the identity thief obtained a loan in their name, which included personal, student, or business loans, auto loans or leases, and even real estate loans.