ID fraud overblown, says online banking business

Thursday, 2 February 2006, 1:13 PM EST

Identity fraud has declined in the last two years, a banking industry-sponsored survey done for the Better Business Bureau (BBB) said Tuesday. The data runs counter to most other estimates of the pervasiveness of online threats posed by criminals and crooks.

According to a telephone poll of 5,000 consumers -- and extrapolations done by Javelin Strategy & Research -- the percentage of Americans affected by identity fraud fell from 4.7 to 4.0 percent between 2003 and 2006. That means the number of consumers tagged by fraudsters also declined, said Javelin, from 10.1 million in 2003 and 9.3 million in 2005, to an expected 8.9 million this year.

By Gregg Keizer at TechWeb News

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