Identity Theft Still A Concern
For the seventh year in a row, the FTC reported that identity theft remains the top consumer complaint. In 2006, 36 percent of complaints filed with the agency were for ID theft. Credit card fraud is the most common form of identity theft, accounting for 25 percent of the complaints.
According to the Identity Theft Assistance Center (ITAC), two-out-of-five identity theft victims surveyed know how their personal data was stolen, "providing valuable insight about how identity theft occurs."
"This information is important because the more we know about the sources of identity theft the more successful we all will be in fighting this crime," said ITAC Executive Director Anne Wallace. "These documented cases provide real world perspective on identity theft."
ITAC surveyed 275 identity theft victims who used the ITAC's free service over a one-month period. Of the 275 cases, 160 consumers (58 percent) did not know the source of their identity theft. Another 115 consumers (42 percent) did know how their information was compromised. The 115 consumers attributed their identity theft to the following sources:
- Friends, relatives, in-home employees: 26 cases / 22.61 percent
- Computer hacker/virus/phishing: 25 cases / 21.74 percent
- Mail (stolen or fraudulent address change): 24 cases / 20.87 percent
- Lost/stolen wallet, checkbook or credit card: 15 cases / 13.04 percent
- Corrupt business or employee: 12 cases / 10.43 percent
- Data breach: 8 cases / 6.96 percent
- House burglarized: 4 cases / 3.48 percent
- Instant credit: 1 case / 0.87 percent
Sources: paymentsnews.com, ISO & Agent
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