Losses due to internet fraud reach $265m in 2004
Losses due to internet fraud reach $265m in 2004

Internet fraud jumps again

ID theft and dodgy online auctions top the bill

Written by Steve Ranger

The US Federal Trade Commission (FTC) received over 200,000 complaints from consumers about internet fraud last year.

For the fifth year in a row, identity theft, both online and offline, topped the list of complaints with 246,570 reports, accounting for 39 per cent of the 635,173 complaints filed with the agency last year.

The FTC said that internet-related complaints accounted for 53 per cent of all reported fraud complaints. Internet auctions made up 16 per cent of complaints, followed by 'shop-at-home' and catalogue sales (eight per cent), and internet services and computer complaints (six per cent).

Losses due to internet fraud stood at $265m in 2004, with the average loss calculated at $214.

In more than half of fraud complaints, victims were initially contacted electronically. Email was the first point of contact in 35 per cent of cases.

While a quarter of those complaining said they had lost no money, 14 per cent lost between $101 and $250 through internet fraud, and 12 per cent admitted losing between $1,000 and $5,000. An even more unlucky three per cent said they lost more than $5,000.

FTC chairman Deborah Platt Majoras said: "These are real people who have lost real money and the FTC offers them a direct link to finding a solution.

"By filing complaints, consumers are one click away from thousands of law enforcement partners who can help restore their good name, protect their financial security, and give the FTC the information we need to stop fraud in its tracks."

Tags:

reader comments

related articles

Federal Trade Commission takes action against Spyware Assassin

US authorities warn of bogus anti-spyware

Spyware Assassin closed down after making 'deceptive claims' 21 Mar 2005

 

Online fraud hits record levels

Total amount stolen in the US last year estimated at $1.2bn 16 Feb 2005

Scammers build 'sucker lists' of victims

Get duped by one fraudster, get chased by more 10 Feb 2005

Microsoft tackles governmental IT security

Security Cooperation Programme backed by Canada, Chile, Norway and the US 03 Feb 2005

BT unites e-payment arms

Combination of units to appeal to merchants and consumers 02 Feb 2005

Online ID fraud fears 'out of proportion'

Paper-based banking more risky, claims study 26 Jan 2005

Banks and police set security standards

Solutions to online fraud 'already exist', claim experts 25 Jan 2005

US failing to prosecute online criminals

Report finds inaction while consumers suffer 13 Aug 2008

FBI reports internet crime at all-time high

$240m in reported losses in 2007 04 Apr 2008

Help for victims of cyber-crime

Website is first UK centre to pool advice and information 31 Jan 2008

related whitepapers

today's top stories

Body Shop rolls out PCI system

Retailer hopes to benefit from improved customer data analysis 07 Oct 2008

Where to offshore (and why not here?)

Tholons, the research firm founded by well-known offshoring guru Avinash Vashistha , has just published some new research in Global Services magazine... 07 Oct 2008

The future of Ethernet

Where is Ethernet going? We look at the future of the widely-used networking technology. 07 Oct 2008

The pIT stop Q&A: How can I measure the business success of IT applications?

Ou expert panel answers readers' real-life IT questions 07 Oct 2008

National Identity Fraud Prevention Week

Every Monday seems to mark the beginning of a new awareness drive and this week’s theme has particular importance to small businesses... 06 Oct 2008

Advertisement

Newsletter signup

Sign up for our range of FREE newsletters:

Existing User

Newsletter user login:

Jobs

Related jobs

Job of the week

Job alerts

Sign up here

Find your next job

Advertisement

White papers

Search white papers

Top categories

VPN, Extranet and Intranet Solutions

WAN/ LAN Solutions

Network Security

Interoperability-Connectivity

Grid/ Utility Computing

Latest poll

Would you apply for a job that was advertised on Facebook or a similar social networking site?

Would you apply for a job that was advertised on Facebook or a similar social networking site?

The government is using Facebook to recruit IT staff - would you apply to such an ad?

Previous poll results

Latest audio and video articles

Ethernet cableVideo

The future of Ethernet

Where is Ethernet going? We look at the future of the widely-used networking technology. 07 Oct 2008

Podcast imageAudio

Computing podcast - Next-generation broadband Britain; and we report from Gartner's IT security summit

In our latest podcast, we discuss the hurdles that a national fibre-optic network must overcome, and look at the issues discussed at the recent IT security conference 02 Oct 2008

Latest in-depth articles

Features

How to ensure progress in programming

Best practice advice from Forrester Research 02 Oct 2008

BT workersAnalysis

Wanted: a viable model for fibre

While other European countries are pressing ahead with fibre rollouts, progress in the UK is being held back as the debate over who will foot the bill drags on, writes Dave Bailey 02 Oct 2008

Advertisement

Primary Navigation