FTC Releases Internet Fraud Stats
Date: February 05, 2005Source: ArticleCentral
Statistics released Tuesday by the Federal Trade Commission show that identity theft continues to be the top fraud-related complaint, accounting for 39 percent of all complaints filed in 2004.
According to the report, titled National and State Trends in Fraud and Identity Theft, the total number of complaints grew 17 percent from 542,378 in 2003 to 635,173 in 2004. The findings also reveal that another top fraud-related complaint was Internet auctions, which made up for 16 percent of all complaints registered last year. Others include shop-at-home/catalog sales at 8 percent, Internet services and computer complaints at 6 percent, and foreign money offers with 6 percent.
Topping the list at 28 percent as the most common type of identity theft was credit card fraud, followed by phone and utility related fraud with 19 percent, bank fraud at 18 percent, and employment fraud at 13 percent. The FTC says consumers reported total fraudulent losses of $547 million last year, with the median loss at $259.
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