Thursday, February 18, 2010

2010 Identity Fraud Survey Report: Consumer Version

2010 Identity Fraud Survey Report: Consumer Version is available. The Industry Version is available for purchase.

More than 11 million adult consumers became victims of identity fraud in 2009, up from nearly 10 million in 2008. The number of fraud victims rose for the second year in a row. On the other hand, victims’ out‐of‐pocket costs and the time required to resolve fraud have decreased. Out‐of‐pocket costs can include unreimbursed losses, lost wages due to time taken off work, and possible legal fees for those victims attempting to prosecute. Banks have stepped up their efforts in counteracting fraud and minimizing the cost and inconvenience suffered by consumers. Most victims don’t experience any out‐of‐pocket costs, but those who did suffered an average cost of $373. The average time to resolve the fraud for these victims was 21 hours. Due to the zero‐liability fraud protection offered by most banks and credit card companies, most victims will only have to pay out‐of‐pocket expenses to cover their time in resolving fraud, not for reimbursing fraudulent charges.

1 comment:

  1. Hi I have read your article.It is really very nice in your article you have mentioned about adult consumers victims of identity fraud.Identity fraud is the crime that most people fear. If you do not know much about identity fraud and identity theft, you should make sure you read and learn about this type of criminal activity. You cannot protect yourself, if you do not understand the crime!When you are reviewing your credit reports, you probably notice that there are erroneous records.Sometimes, these errors are caused by mistakes made at the credit bureau but they could be the results of identity theft.Visit Legal Support.