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FTC Findings Challenge Claim that Identity Theft is Down

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An article by Martin H. Bosworth on on February 9th says that the financial services industry, hoping to befuddle the new Congress, has been busily laying down a smokescreen claiming that identity theft is on the wane.

But the Federal Trade Commission's latest compilation of consumer complaints and a survey by the National Crime Prevention Council should do much to clear the air, since complaint findings contradict industry claims that identity theft is somehow less of a threat these days.

A study recently released by Javelin Research claimed that identity theft instances declined by 11.5 % between 2005 and 2006, with 2006 losses declining to $49.5 billion. The Javelin study was funded by Visa, Wells Fargo, and check-printing company CheckFree.

Meanwhile, a Harris Interactive survey commissioned by the National Crime Prevention Council (NCPC) found that identity theft and credit card fraud top the list of crimes about which Americans are extremely concerned.

Click here to read the entire article.