Identity theft headed the top 10 consumer fraud complaints of 2001, according to a new federal report. Identity theft accounted for 42 percent of the 204,000 complaints entered into the Federal Trade Commissions's Consumer Sentinel database last year. The top 10 list of consumer fraud complaints includes:
- Identity Theft (42%)
- Internet Auctions (10%)
- Internet Services and Computer Complaints (7%)
- Shop-at-Home and Catalog Offers (6%)
- Advance Fee Loans and Credit Protection (5%)
- Prizes/Sweepstakes/Gifts (4%)
- Business Opportunities and Work at Home Plans (4%)
- Foreign Money Offers (4%)
- Magazines and Buyers Clubs (3%)
- Telephone Pay-Per-Call/Information Services (2%)
Consumers who report their complaints to the FTC are helping law enforcement find and stop rip-off artists," said Howard Beales, Director of the FTC's Bureau of Consumer Protection. "The complaints in the Consumer Sentinel database are a valuable tool for state and federal consumer protection agencies that investigate and prosecute fraud."
Consumers can file a fraud complaint with the FTC by calling toll-free 1-877-FTC-HELP (1-877-382-4357) or online at www.ftc.gov. Consumers can file identity theft reports by calling 1-877-ID THEFT (1-877-438-4338).
Consumer complaints where analysed from more than 50 law enforcement and private sector partners. Leading data contributors include the National Fraud Information Center, Canada's Phonebusters, the Internet Fraud Complaint Center, and numerous local Better Business Bureaus.
Here are some important tips to help consumers protect themselves from fraud and deception:
- Protect your personal information.
It's a valuable commodity. Only share your credit card or other personal information when you're buying from a company you know and trust.
- Know who you're dealing with.
Walk away from any company that doesn't clearly state its name, physical address and telephone number. A Web site alone or a mail box drop should raise suspicions.
- Don't rely on oral promises.
Get all promises in writing and review them carefully before you make any payments or sign any contracts. Read and understand the fine print in any written agreement.
- Don't pay "up-front" for a loan or credit.
Remember that legitimate lenders never "guarantee" a loan or a credit card before you apply, especially if you have bad credit, no credit, or a bankruptcy.
Peter Graham is a staff writer for Insider Reports®: The Right Advice @ The Right Time
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