Search
 

Consumer Wallets Taking a Hit from Fraud

FAIRMONT, W. Va. - Fraud is costing consumers more. According to the Internet Crime Complaint Center (IC3) 2005 Internet Crime Report, the total dollars lost from all referred fraud cases was $183 million, up from $68 million in 2004. Topping the list of complaints was Internet auction fraud-comprising some 63%...

By Staff Writer | Updated on April 18, 2006

FAIRMONT, W. Va. – Fraud is costing consumers more. According to the Internet Crime Complaint Center (IC3) 2005 Internet Crime Report, the total dollars lost from all referred fraud cases was $183 million, up from $68 million in 2004. Topping the list of complaints was Internet auction fraud-comprising some 63% of referred complaints. Of the individuals reporting dollar losses, the highest median losses were found among Nigerian letter fraud($5,000), check fraud ($3,800) and other confidence fraud ($2,025). Here is a look at some other report findings:

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

 

Recommended Stories

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.