FTC FINDS ID THEFT STILL “BIG BUSINESS”

With the latest FTC findings, and a survey by the National Crime Prevention Council (NCPC), ConsumerAffairs.com concludes that identity theft is still at the top of the fraud list, contrary to financial services industry claims it is on the wane. See article. The FTC’s 250,000 complaints on the issue—36 percent of the total—keep it number one for the seventh year in a row. Credit card fraud is the thieves’ method of choice. In a Harris Interactive survey commissioned by NCPC, ID theft and credit card fraud find the American public “extremely concerned.”

If you’re that concerned, you should start buying in to my concept that consumers should have control over their names and personal data.

Another study by the Identity Theft Assistance Center (ITAC) found that 2 in 5 identity theft victims were known personally by the crook. In more NCPC findings, 14 percent of the population, or 40 million adult Americans, claim to be ID theft victims. And here’s one I haven’t heard before. The black community appears to have the highest victimization: 31 percent compared to an overall population rate of 14 percent. Is anyone listening?