Submit your Consumer Fraud claim details for a free, no obligation case review.
Get Started:
more_legal_areas consumer_fraudIdentity theft remained the top source of consumer fraud reported to the Federal Trade Commission (FTC) for the fifth year in a row. The FTC coordinates the government’s consumer fraud prevention efforts. In 2004, 635,000 complaints were made to the FTC, but an estimated one in 10 million Americans was the victim of identity theft in 2004, according to figures.
On February 9, 2005, several agencies released lists of the most common consumer scams of 2004. Identity theft accounts for nearly 40 percent of all complaints called into the FTC. Identity theft is the theft of a person’s name, Social Security number, credit card number or other personal information to commit fraud.
Because such a high number of Americans are falling victim to identity theft and fraud, this year’s National Consumer Protection Week (February 6-12, 2005) focused on how consumers can better safeguard their personal information. While there is no sure consumer fraud protection, there are things consumers can do to minimize risk. According to Stephen Brobeck, executive director of the Consumer Federation of American in Washington, D.C., “identity theft is one of those problems that needs serious attention and effort on the part of both consumers and industry.”
Fraudsters obtain personal information by stealing wallets and purses, going through mailboxes, rummaging through trash or sending fake emails to try to get Social Security numbers, credit card numbers and other personal information. After getting this information, the fraudster can drain a persona’s bank account or open accounts under the person’s name to take out loans. Government agencies, consumer advocacy groups and nonprofit organizations hope consumers will become more aware of ways to incorporate consumer fraud protection practices into their daily lives.
Simple things like taking out Social Security cards and other cards that have the Social Security number on it from your wallet can assist consumer fraud protection. Any consumer online should make sure security software is up to date. The growing number of online users has resulted in all different types of Internet scams that consumers can protect themselves against by only giving out personal information to contacts they have contacted or who they know.
Emails asking for confirmations requiring identifying information should always be considered illegitimate since a business will never send an email asking for that type of information. As of March 1, 2005 in the Midwest, June 1, 2005 in the South and September 1, 2005 in Eastern states and D.C. and U.S. territories, American consumers will be eligible for free copies of their credit reports under the Fair and Accurate Credit Transactions Act. Consumers should check their credit reports at least once a year to make sure they have not been the targets of consumer fraud unknowingly.
Thieves continue to become more resourceful, but so can consumers. In 2004, an estimated two million people had their checking accounts raided. According to the research firm Gartner, which conducted the study, checking account theft was the fastest growing financial fraud affecting consumers, second only to credit card theft. Credit card theft affected nearly six million people during 2004. With identity theft, home repair and improvement fraud, financial service fraud, consumer electronics fraud, telemarketing scams and other forms of consumer fraud, learning better consumer fraud protection tips can help prevent more people from falling victim to fraudulent schemes.
A lawsuit has been filed against an Albany supermarket chain over a data security breach that exposed over 4 million credit and debit card users. The lawsuit is seeking class action status.
Three Month Breach<...
The maker of the popular herbal supplement Airborne has agreed to settle a class action consumer fraud lawsuit for $23 million, according to the nonprofit advocacy group the Cent...
Dannon Co. is being targeted in a proposed class action lawsuit over claims it misled the public about the health benefits of its “probiotic” yogurts.
Company Boasts Benefits, Charges More
According to the ...