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Survey Indicates ID Theft May Be Diminishing

Posted by Zonk on from the we-can-only-hope dept.

netbuzz passed us a link discussing a survey conducted by major credit firms. Keeping in mind the source (CheckFree, Visa, and WellsFargo), the results indicate identity theft may be on the downswing as consumers wise up to scammers. The number of respondents that reported a fraudulent account created with a stolen identity dropped by a full half percentage point between 2005 and 2006. Overall fraud apparently dropped by some 12% over last year, representing $6.4 billion in fraud reduction. Again, consider the source: identity fraud is still apparently costing some $49.3 billion annually.

1 of 61 comments (clear)

  1. Education is the key by Mad-cat · · Score: 3, Informative

    Quick note: I am a law enforcement officer and have a background in network management.

    One of the issues I face in investigating identity-theft related crimes is the lack of knowledge the general consumer has. That seems to be changing.

    About a year ago, the typical victim of identity theft would ask questions like "How can they be using my credit card if I have it right here?" or "I'll bet it was the waiter at that restaurant last week who looked at me funny. He can charge any price he wants on their system, right?"

    Now, my typical victim of identity theft is much more aware, and usually has the credit reporting agencies and banks notified of the problem within hours instead of days or weeks. They know in advance what to do, and don't have to be told how to help themselves.

    I have to hand it to the average citizen. They are catching on about internet safety. Not completely and not quickly, but it's a major improvement.