All Top Banking

ID Theft Top Consumer Complaint - FTC

Posted by John B. Frank Monday, March 2, 2009


FTC Releases List of Top Consumer Complaints in 2008

The Federal Trade Commission on Friday released the list of top consumer complaints received by the agency in 2008. The list, contained in the publication “Consumer Sentinel Network Data Book for January-December 2008,” showed that...
  • for the ninth year in a row, identity theft was the number one consumer complaint category.
  • Of 1,223,370 complaints received in 2008, 313,982 – or 26 percent – were related to identity theft.
In December, the FTC called on the US Government to "extend two-factor authentication" (such as the application provided by HomeATM) standards deployed by banks to all private sector organizations that maintain consumer accounts, in a bid to combat rising levels of ID fraud.  (See: Dual Authentication for ALL Consumer Accounts - FTC

This report breaks out complaint data on a state-by-state basis and also contains data about the 50 metropolitan areas reporting the highest per capita incidence of fraud and other complaints. In addition, the report sets forth the 50 metropolitan areas reporting the highest incidence of identity theft.

The report states that credit card fraud was the most common form of reported identity theft at 20 percent, followed by government documents/benefits fraud at 15 percent, employment fraud at 15 percent, phone or utilities fraud at 13 percent, bank fraud at 11 percent and loan fraud at four percent.

Reblog this post [with Zemanta]

2 comments

  1. Anonymous Says:
  2. Here is the blog I'm looking for, very interesting and like it. Most of the consumers are looking for good quality of products or services. When the consumers try to buy, they are the one to judge it. And consumers will give suggestions or feedbacks. During my search I have found a network that allows consumers to share complaints and experiences for the products or services to let other know. This is the site what I'm talking for - Consumer Complaints

     
  3. Anonymous Says:
  4. We got an interesting blog here. When we encountered dissapointing experience with the product or service usually we do share experiences with others. Sometimes we going to file a complaint with product or service to assure satisfaction. I found a good portal that provides information about the concerns of consumer - Consumer Complaints

     

Post a Comment

Powered by Blogger.

Blog Archive

Search This Blog

Our Manufacturing Facility

Learn More About Us

Find out how our patented technology can empower your financial institution.

Our secure two-factor online banking authentication eliminates dangerous passwords and usernames and replicates the same trusted process used to access cash at ATM's. (Insert Bank Issued Card, Enter Bank Issued PIN)

There is an R.O.I. as FI's also earn recurring revenue from each transaction conducted using our PCI 2.0 Certified PIN Entry Device. Our technology also provides a unique real-time P2P "Instant-Transfer" which allows your online banking customer to transfer cash from ANY of their bankcards to ANY other bankcard...with the Swipe of a card.

Help your bank eliminate phishing and your customers avoid identity theft by providing them with the ability to stop typing and start swiping. There is no safer way to conduct financial transactions online than by 3DES DUKPT encrypting the cardholder details, which we do at the mag-head "inside the box/outside the browser."

Total Pageviews

SLIM for PC or SmartPhone

SLIM for PC or SmartPhone
Click to Inquire

Chip and PIN eCommerce and Mobile

Chip and PIN eCommerce and Mobile
Click to Inquire

Kapersky Calls for Mass Adoption of Card Readers

Kapersky Calls for Mass Adoption of Card Readers

Translate This Blog

BobCaps

Search ePayment News (example: NFC)

About Me

My photo
Named one of the best Payment Industry News Blogs 4 Years Running

Feedjit

My Zimbio