Identity Theft No. 1 Fraud Complaint: FTC
Identity theft topped the Federal Trade Commission’s 2003 list of consumer fraud complaints for the fourth consecutive year.
Some 42% of the complaints received by the FTC’s consumer database were about identity theft, up from 40% in 2002. The median loss for victims of fraud was $228, with Internet-related fraud at $195, the FTC said last week.
The FTC received more than 500,000 complaints in 2003, up from 404,000 in 2002. Internet-related complaints added up to 55% of all fraud reports, up from 45% in 2002.
The top 10 complaint categories in 2003 include:
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Internet auctions—15%
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Shop-at-home/catalog sales—9%
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Internet services and computer complaints—6%
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Prizes, sweepstakes and lotteries—5%
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Foreign money offers—4%
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Telephone services—3%
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Business opportunities and work-at-home plans—2%
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Magazine buyers clubs—1%
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Office supplies and services—1%
