What Are The Latest Fraud Stats?

Looking for stats about how fraud has risen over the past year. I was able to find a few data points:

  • A NYT article today talks about how the FBI is understaffed to investigate financial crime because it shifted almost 1/3 of its force to anti-terrorism duties.
  • A UK bank group says phishing attacks rose 186% from January to June 2008 over the same period last year.
  • According to this phone-survey study, both the frequency and dollar amount involved in identity theft has gone down over the past three years.
  • The FTC is a great resource, but the most recent, relevant, report I found was from 2007

but that’s not quite what I’m looking for. What can you dig up for recent fraud stats?

F.B.I. Struggles to Handle Wave of Financial Fraud Cases [NYT]
Bank turmoil fuels phishing boom [BBC]
2008 Identity Fraud Survey Report [Javelin Strategy]
FTC Releases Consumer Fraud Survey [FTC]


Edit Your Comment

  1. ninjatoddler says:

    A lesson for the aspiring terrorist is to give up his/her weapons (of mass destruction dare I say) and get into financial terrorism. It’s far more lucrative and a more respectable form of employment. Especially here in the US where white collar crimes can be expunged from your records if you can dish out some $$$.

  2. Ben Popken says:

    Here’s some more, though only up to 2007: [www.ftc.gov]

    • Juliekins says:

      @Ben Popken: Thank you for this post–I’m working on a presentation to a group of retirees, and online fraud is a huge source of worry for them. (Well, for everyone, but you get my drift.) This is going to be a great resource for my work!

  3. Ben Popken says:

    Internet Crime Complaint Center annual report: [www.ic3.gov]

  4. Ben Popken says:

    “The FBI’s 2007 Mortgage Fraud Report, released in May, noted that mortgage fraud Suspicious Activity Reports (SARs) referred to law enforcement increased 31 percent, to 46,717 during fiscal year 2007. The total dollar loss attributed to mortgage fraud is unknown. However, 7 percent of the reports filed during fiscal year 2007 indicated a specific dollar loss that totaled more than $813 million. Consequently, the FBI’s caseload has also escalated. By the end of fiscal year 2007, the bureau was handling just
    more than 1,200 mortgage fraud investigations- a 47 percent increase from 2006 and an astounding 176 percent increase from 2003, according to Assistant Director Kenneth W. Kaiser…” [www.mortgagelawcentral.com]

  5. homerjay says:

    This place was starting to look like a ghost town for the weekend. Are you planning to post regularly on weekends, Ben?

  6. johnfritz says:

    God forbid the FBI shift some of their resources from that oh-so-important War On Drugs to issues that really matters.

    • dragonfire81 says:

      @johnfritz: My wife often complains about how the U.S. government is MUCH more focused on the rest of the world and ignores a lot of the messes right outside their front door.

      I’m inclined to agree with her. National security is a high priority, but should it really come at the expense of domestic well being?

    • johnfritz says:

      @johnfritz: @dragonfire81:

      Good point. There are absolutely no easy answers. And for everything you and I could come up with as genuine examples supporting our arguments, we would miss one hundred more.

  7. forgottenpassword says:

    btw.. great film.

    I dwnloaded it about a month ago.

  8. BeeBoo says:

    One of the reasons The Grifters is such a great film is the score by Elmer Bernstein.

    An interesting place with good information on fraud is USPS.


    They have a list of common frauds which is sure to include a couple you haven’t heard of:


    Postal inspectors are involved in everything from catching pedophiles to Nigerian scams.

  9. quail says:

    Did anyone else find it interesting that identity theft, the frequency and the dollar amount, has declined? Everyone should still be on their guard. And I’m sure that people being more vigilant has helped…

    …But I’ve got to think that if Everyman Joe can’t get credit then a thief with Joe’s information can’t get it either.

    So there is a bright side to the credit crunch after all…

    • BeeBoo says:

      @quail: I think it more likely that crime continued to increase but the reporting, prosecution, or conviction rate decreased, or that the numbers are distorted in another manner.

  10. wellfleet says:

    Interesting reading all this after my credit card got declined for a small purchase at Best Buy. I call the bank and there’s a (*&^%$#@*&^%$#@ $9000 charge on my card. Mofos went to the movies, Home Depot, drugstore… What I don’t get is why the bank didn’t see something was amiss when I was making simultaneous charges thousands of miles apart like I’m some kind of shopping Superman. I’m sure it will all get taken care of, but I don’t get it because
    1. my card has never left my sight
    2. the last think i bought online was from amazon 3 months ago
    3. i hardly ever use that card, and can’t think of any place shady i would have used it at since i live in smalltown USA