Saving You Money For Life

A recent story in Reuters said that identity theft remains a major problem, with Americans losing $45.3 billion in 2007, but a drop in fraud cases suggests that more consumers and businesses are winning the battle against criminals.

According to the study:

• Losses declined 11 percent from about $51 billion in 2006. The average loss fell 6 percent to $5,574 from $5,920.
• The study also said that as banks and retailers beef up their in-store and online security systems, frauds are resorting more to the phone and the mail to prowl for victims.

  According to Javelin Strategy & Research, 8.1 million adult Americans, or one in 28, learned last year that criminals committed fraud with personal data such as credit card or Social Security numbers.

  That’s down from 8.4 million in 2006 and 10.1 million in 2003. But it still means many people were at risk of having their accounts drained, or credit card bills soar, without knowing it was happening.

  Who knew the world was so dishonest?

You can leave a response, or trackback from your own site.