As reported by Wired magazine’s Threat Level blog, the Federal Trade Commission (FTC) has released its Consumer Sentinel Network Data Book report, an annual document that details millions of consumer complaints reported to the FTC. Not surprisingly, identity theft still retains its status as the top consumer complaint for the year 2009.
However, the FTC did report that identity theft complaints dropped 5% in 2009 over the previous year, with credit card fraud at the forefront of all identity related complaints registered. In fact, 21% of all complaints issued in 2009—1.3 million—pertained directly to identity theft.
This evidence suggests that while the identity security industry is showing signs of progress—5% is a significant improvement—there is still a need for comprehensive identity fraud prevention initiatives to be taken by the government, American businesses and consumers nationwide.
Details and the full FTC report can be found at Wired.