Identification theft, commercial collection agency, and payday advances top listing of consumer fraud complaints

Identification theft, commercial collection agency, and payday advances top listing of consumer fraud complaints

Identity theft led record of top customer complaints in 2013, with US customers reporting they lost over $1.6 billion to various kinds of fraudulence, states the Federal Trade Commission.

  • By Reuters

The apparently intractable issue of identification theft led record of top customer complaints again in 2013, that they lost over $1.6 billion to various types of fraud, the Federal Trade Commission said in a report released on Thursday with US consumers reporting.

Associated with 2 million customer complaints that the commission received this past year, 290,056, or around 14 per cent, had been pertaining to identification theft, the FTC stated.

“This (identify theft) has topped record since at the least 2006,” stated David Torok, manager of this FTC’s Division of preparing and Ideas.

Identification thieves make acquisitions on bank cards they don’t acquire, make withdrawals from the target’s bank account and take out loans when you look at the target’s title, among other types of fraudulence.

Florida had the greatest per capita price of fraudulence, with 804.9 individuals reporting issue out of each and every 100,000 in populace, the FTC stated in its report for 2013. North Dakota had the cheapest rate of reported fraud.

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The victim that is average $2,294, based on the FTC, which stated that 61 per cent of these defrauded in 2013 place a buck value on the losings.

A complete of 43 per cent of fraudulence victims had been reached through e-mail, while 21 per cent had been telephoned and another 20 percent had been defrauded through an online site, the FTC stated.

While the champion is . identification fraud!

While identification fraudulence had been the top way to obtain customer complaints at 14 % in 2013, commercial collection agency (10 %) ended up being 2nd. Complaints had been things like a collector either attempted to gather a financial obligation which was maybe not owed, harassed a debtor or made false statements about financial obligation.

Another 7 per cent of complaints had been associated with banking institutions and loan providers, such as for example pay day loan dilemmas or overdraft that is unexpected. Imposter frauds, such as for instance individuals claiming become through the government and payment that is demanding of financial obligation that doesn’t occur, taken into account 6 per cent for the reported fraud situations.

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Complaints about phone and mobile solutions had been additionally at 6 per cent every, including such issues as unanticipated costs on mobile or phone bills.

Rounding out of the top ten consumer complaints had been: issues about rewards and lotteries (4 per cent); auto-related complaints (4 per cent); shop-at-home and catalog product product sales (3 %); television and electronic news (3 per cent) and advance re re payment for credit solutions (2 per cent). Maybe Not Certified In Washington

The Washington state dept. of Financial Institutions (DFI) has gotten a problem from the Washington customer whom reported they obtained an online cash advance from

the web site lists a contact wide range of 800-528-8066 and purports become running from Nevis, West Indies. is certainly not licensed by DFI as being a loan that is small payday lender, and it is maybe perhaps maybe not registered to conduct company into the state of Washington by either the Department of income or even the Secretary of State. Washington residents are encouraged that state legislation provides in RCW 31.45.105(1)(d) and (3) that a tiny loan created by an unlicensed entity to someone actually positioned in Washington is uncollectible and unenforceable in Washington State.

Verify Permit

DFI highly recommends that customers deal just with those loan providers which can be precisely certified to conduct company. Customers can determine whether loan providers are correctly certified making use of the “Verify a License” function regarding the DFI’s web site at.

Loan companies cannot state or mean that failure to cover a financial obligation is a criminal activity. They are unable to phone before 8:00 a.m. or after 9:00 p.m. They can’t harass or abuse customers, or contact customers’ places of work.

Cash Advance Business Collection Agencies Laws

Collection tasks are susceptible to the Fair Debt Collection Practices that is federal Act. Consequently, for those who have questions debt that is regarding regulations please contact the Federal Trade Commission at 382-4357 (1-877-FTC HELP), or online at

Report Fraud

Washington State residents, if you should be dubious of unlicensed task by a payday loan provider please contact the Washington state dept. of banking institutions at 1-877-RING-DFI (746-4334), or onlin.

If you’re an additional state, find a state regulator.

If you think you have now been the target of that loan scam please contact the Federal Trade Commission at 1-877-FTC-HELP (382-4357) or online at; or contact the buyer Financial Protection Bureau (855) 411-CFPB or online at Due to the fact scammers gain access to bank-account information and social security figures, victims must look into themselves victims of identification theft and just just take appropriate precautions. The Federal Trade Commission has information for victims of identification theft available on the internet at

If you think you’ve been the target of that loan scam relating to the online be sure to contact the world wide web Crime Complaint Center online at

You have been the victim of a loan scam and are concerned about your personal financial information, contact your banking institution, and the three major credit bureaus if you feel.