Nearly 25 million adults, or 11.2% of the adult population in the U.S., were victims of fraud in 2003, according to a survey conducted by the Federal Trade Commission.
Prize promotions ranked 5th in the top 10 list of fraud categories with 1.8 million victims.
American Indians and Alaska Natives were the ethnic group most likely to be victimized, with 34% experiencing one or more frauds in the preceding year. Seventeen percent of African Americans were victims, as were 14% of Hispanics and 6% of non-Hispanic whites.
“These findings will help us fine-tune our Hispanic law enforcement and outreach initiative and explore additional opportunities to target frauds aimed at communities which are at risk,” said Howard Beales, director of the FTC Bureau of Consumer Protection.
The survey also found that consumers with high levels of debt were more likely to become victims of fraud. Three of the top four categories of fraud related to credit, with advance-fee loan scams the most frequently reported type.
The top 10 fraud categories listed in the report include:
- Advance-fee loan scams—4.55 million victims
- Buyers clubs—4.05 million victims
- Credit card insurance—3.35 million victims
- Credit repair—2 million victims
- Prize promotions—1.8 million victims
- Internet services—1.75 million victims
- Pyramid schemes—1.55 million victims
- Information services—800,000 victims
- Government job offers—650,000 victims
- Business opportunities—450,000 victims
Consumers between the ages of 25 and 44 are most likely to be fraud victims.
The survey queried 2,500 randomly chosen consumers about fraud in May and June 2003.
Network
