Scam artists are creative, always changing their schemes to avoid the latest road blocks put in their paths. For example, the Federal Trade Commission reports that identity theft still is the number one consumer scam complaint, but there are some changes from the past. Since the older segment of the population most often is the target of scams, it’s important to stay on top of the trends.
About 19% of total complaints reported were of identity theft. The most common form of identity theft, however, was theft of government documents or benefits. It increased by 4% from 2008. Credit-card-related identity theft, once a major focus of identity theft scams, Scam artists are creative, always changing their schemes to avoid the latest road blocks put in their paths. For example, the Federal Trade Commission reports that identity theft still is the number one consumer scam complaint, but there are some changes from the past. Since the older segment of the population most often is the target of scams, it’s important to stay on top of the trends.
About 19% of total complaints reported were of identity theft. The most common form of identity theft, however, was theft of government documents or benefits. It increased by 4% from 2008. Credit-card-related identity theft, once a major focus of identity theft scams, declined by five percentage points.
Theft of government benefits divides into several acts. The scam artist might claim a tax refund, government benefit, loan, or salary using someone else’s identity. The most frequent scam was crooks applying for tax refunds or wages under someone else’s name. The states with the highest per capita reported identity thefts were Florida, Arizona, and California.
Though their incidence declined, ID thefts involv-ing credit cards, utilities, and phone services still are significant.
One form of theft that is growing rapidly is called impostor theft. This involves a crook posing as a relative, friend, business associate, or a government official. The impostor, after establishing credibility, asks the victim for money or personal financial information. The con could involve a friend or relative claiming to be stranded out of town without cash. Or a government official could claim that money is owed for taxes, fees, or some violation of the law. The possibilities are limited only by the crook’s imagination.
About half of frauds now are conducted through e-mail.
The frauds change, but the steps to avoid being a victim are the same. Tightly protect personal information such as your Social Security number, financial accounts, and your birth date. Be especially wary of any e-mails requesting money or such information.
RW May 2011.
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