Consumers Make Fewer Complaints to FTC

By Staff Writer March 05, 2018

While the number of complaints about fraud from consumers dropped in 2017, consumers reported losing more money than they did in 2016, according to the Federal Trade Commission.

The data book includes complaints from 2.68 million consumers, a decrease from 2016 when 2.98 million consumers submitted reports.
Despite this, consumers reported losing a total of $905 million to fraud in 2017 -- $63 million more than in 2016.

Although reports about debt collection declined between 2016 and 2017, it remained the top consumer complaint category, making up about 23 percent of all complaints. The high number of debt collection reports was due in part to reports submitted by a data contributor who collects complaints via a mobile app.
Identity theft was the second biggest category, making up nearly 14 percent of all the consumer complaints.

Credit card fraud was the most common type of identity theft reported by consumers. Tax fraud was the second most common type of identity theft reported by consumers despite falling by 46 percent from 2016.

Last modified on Monday, 05 March 2018 01:26

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