Identification theft, commercial collection agency, and pay day loans top directory of customer fraud complaints

Identification theft, commercial collection agency, and pay day loans top directory of customer fraud complaints

Identification theft led the menu of top customer complaints in 2013, that they lost over $1.6 billion to various types of fraud, reports the Federal Trade Commission with US consumers reporting.

  • By Reuters

The apparently intractable dilemma of identification theft led record of top customer complaints once more 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 the 2 million customer complaints that the commission received year that is last 290,056, or around 14 per cent, had been linked to identification theft, the FTC said.

“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 could make acquisitions easy payday loans Indiana online on bank cards they cannot possess, make withdrawals from a target’s banking account and take away loans within the target’s title, among other forms of fraudulence.

Florida had the best per capita price of fraudulence, with 804.9 individuals reporting issue from 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 typical victim lost $2,294, in line with the FTC, which stated that 61 per cent of the defrauded in 2013 place a buck value to their losings.

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

Therefore the winner is . identification fraudulence!

While identification fraudulence had been the top way to obtain customer complaints at 14 per cent in 2013, business collection agencies (10 %) had been second. Complaints were specific things like a collector either attempted to collect a financial obligation which was perhaps perhaps not owed, harassed a debtor or made false statements about financial obligation.

Another 7 % of complaints had been associated with banking institutions and loan providers, such as for example cash advance issues or unanticipated overdraft fees. Imposter scams, such as for instance individuals claiming become through the federal government and payment that is demanding of financial obligation that doesn’t occur, accounted for 6 per cent of this reported fraudulence instances.

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Complaints about phone and services that are mobile additionally at 6 per cent every, including such dilemmas as unforeseen costs on mobile or phone bills.

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

The Washington State Department of Financial Institutions (DFI) has gotten an issue from the Washington customer whom reported they obtained a payday that is online from

the web site lists a contact quantity of 800-528-8066 and purports become running from Nevis, western Indies. is certainly not certified by DFI as being a little loan or payday lender, and it is maybe perhaps not registered to conduct business when you look at the state of Washington by either the Department of income or perhaps 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 produced 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 are precisely certified to conduct company. Customers can see whether loan providers are correctly certified utilising the “Verify a License” function regarding the DFI’s internet site at.

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

Payday Loan Commercial Collection Agency Laws

Collection tasks are susceptible to the federal Fair commercial collection agency ways Act. Consequently, when you have concerns regarding debt collection legislation please contact the Federal Trade Commission at 382-4357 (1-877-FTC HELP), or online at

Report Fraud

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

If you reside an additional continuing state, find a state regulator.

Should you feel you’ve 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 customer Financial Protection Bureau (855) 411-CFPB or online at Considering that the scammers get access to bank-account information and security that is social, victims should think about on their own 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 concerning the online be sure to contact the world wide web Crime Complaint Center online at

In the event that you feel you’ve been the target of financing scam as they are worried about your private monetary information, contact your banking organization, while the three major credit agencies.