Identity Theft Complaints Up in 2008

The Federal Trade Commission just issued its Consumer Sentinel Network Data Book for 2008 and it does not look good.   For the ninth year in a row, identity theft tops the 2008 list of consumer complaints received by the Federal Trade Commission. The report shows that of 1,223,370 complaints, 26 percent, or 313,982, were about identity theft.

The previous year, identity theft accounted for 259,266 of the 1,050,229 complaints. Complaints about third-party and creditor debt collection came in second with 104,641 complaints (9 percent of the total), followed by shop-at-home and catalog sales with 52,615 complaints (4 percent), Internet services with 52,102 complaints (4 percent), and foreign money offers and counterfeit check scams with 38,505 complaints (3 percent). Many of the claims coming to the FTC are fraud related, with consumers reporting being taken for more than $1.8 billion.

So, it seems that identity theft is still a major issue for our society.  However, please note this Indianapolis Star Tribune article highlights some of the good (yes, good) surrounding some of these numbers.  The article points to the use consumers keeping tabs on their credit, as well as doing more banking online – thus being vigilant with their accounts.