ID theft is the most common consumer fraud
WASHINGTON DC - A study from the Federal Trade Commission (FTC) released last month reveals that identity theft was by far the biggest form of consumer fraud in 2006, recording almost six times the number of complaints than the second highest method.
The extent of the problem is laid bare in Consumer Fraud and Identity Theft Complaint Data: January-December 2006. Some 36% of all complaints were in relation to identity theft and subsequent fraudulent behaviour using that person's identity. Catalogue sales fraud came next on the survey with 7%.
Under the banner of identity theft, 25% of complaints related to credit card fraud, with phone fraud and bank fraud each registering 16%. But despite these statistics, the figures showed a slight
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