top of page
  • Writer's pictureGibbs & Sellers

Alarming 2018 consumer fraud statistics

The rate at which Alabama consumer fraud is increasing year-by-year is staggering. In a study, it was discovered that fraudsters are becoming much more technologically advanced, with the vast majority of crimes taking place online. These hackers are often untraceable, and may be located anywhere in the world. Unfortunately, many are never identified and brought to justice.

Identity theft, which is the number one method of consumer fraud, increased by a whopping 8 percent from 2017 to 2018. Fraudsters were able to steal the identities of an additional 1.3 million victims, and ultimately stole $16.8 billion dollars from unsuspecting consumers. These funds were stolen primarily by non-card fraud and account takeover.

Account takeover is the act of “taking over” a website when a consumer logs on, thereby giving the appearance that the consumer is actually operating on the official company website. Once logged in, the consumer continues to enter personal information, which the fraudster can immediately steal through a replicated website. This type of activity was found to have tripled over the past year, and was responsible for $5.1 billion of the total amount stolen by identity theft. The top method through which fraudsters were able to accomplish this crime? Online shopping.

Victims of identity theft or fraud often spend a substantial amount of time in resolving the matter. A consumer fraud attorney can help speed the process along and save hours of exhausting phone calls. In addition, he or she can also offer resources through that may increase security measures on accounts and credit reports to prevent theft from happening again.

Recent Posts

See All

What are the different types of consumer fraud?

It is important for everyone to understand what consumer fraud is and how to avoid it and protect from it. There are a variety of different types of consumer fraud that include scams and other efforts

Comments


Contact Us Today for a
Free Case Evaluation & Consultation

To learn more about how we can help and your legal options, call us at 334-289-2255, or send us an email now. We represent wrongful death clients in Marengo, Perry, Hale, Wilcox, Dallas, Sumter, Greene, and Clarke counties.

While this website provides general information, it does not constitute legal advice. The best way to get guidance on your specific legal issue is to contact a lawyer. To schedule a meeting with a wrongful death lawyer, please call or complete the intake form.

How would you like to be contacted?

Disclaimer: The use of the internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

bottom of page