Active Duty Servicemembers are More likely to Report Identity Theft than Other Adults, New FTC Data Shows

Active duty servicemembers are 76 percent more likely than other adults to report that an identity thief misused existing accounts, such as a bank account or credit card, according to the Federal Trade Commission’s latest Consumer Protection Data Spotlight.

The data, which is based on complaints submitted by consumers to the FTC’s Consumer Sentinel Network, also shows that active duty servicemembers are nearly three times as likely to report that someone used a debit card or some other electronic means to take money directly from their bank account without their permission. They also are 22 percent more likely to report that their stolen information was misused to open a new account, especially new credit card accounts, according to the data.

Reports indicate that securing personal information may present special challenges for active duty troops. According to the Spotlight, nearly 14 percent of active duty servicemembers who reported identity theft said that a family member or someone they know misused their identity, compared to just 7 percent of other adults. Reports suggest that this often happens when people have access to important documents or financial records left behind during military assignments.

MilitaryConsumer.gov is a resource for servicemembers, veterans, and their families to avoid scams and manage money.

IR Press

Share
Published by
IR Press

Recent Posts

OCC Announces Enforcement Actions for November 2024

WASHINGTON—The Office of the Comptroller of the Currency (OCC) today released enforcement actions taken against…

4 days ago

Remarks by Secretary of the Treasury Janet L. Yellen on the 30th Anniversary of the Community Development Financial Institution Fund

As Prepared for Delivery Good afternoon. It’s an honor to welcome President Clinton to Treasury today…

4 days ago

Treasury Sanctions Gazprombank and Takes Additional Steps to Curtail Russia’s Use of the International Financial System

Treasury imposes sanctions on dozens of Russian banks, securities registrars, and finance officials; OFAC issues…

4 days ago

Acting Comptroller Testifies on State of the Federal Banking System

WASHINGTON—Acting Comptroller Michael J. Hsu today testified on the state of the federal banking system…

5 days ago

Remarks by Assistant Secretary for International Finance Brent Neiman on the U.S. Cross-Border Payments Agenda

As Prepared for Delivery Thank you very much for the opportunity to be here today, and…

6 days ago