In 2018, Tennessee residents lost $18.5 million due to identity theft cases and other types of fraud. The state ranked 5th in the country for number of fraud reports per capita, with a total of 53,014 reported cases in 2018 alone, with a median loss per incident of $345.
1. Debt Collection (30%) – Debt collection scams occur when an individual tricks their victim into paying money toward a nonexistent debt.
2. Imposter Scams (14%) – An imposter scam is when someone poses as someone you trust in order to extort money or personal information.
3. Identity Theft (11%) – Identity theft takes place when someone uses an individuals’ personal information for their own gain, financial or otherwise.
4. Prizes, Sweepstakes, and Lotteries (5%) – Prize/sweepstakes/lottery scams typically involve a request for you to pay or provide personal or financial information to claim a prize that is, in reality, illegitimate.
5. Credit Bureaus, Information Furnishers, and Report Users (4%) – These types of fraud can occur when someone opens a credit card in your name, uses your identity to get credit, or poses as a bureau or reporting agency to try and obtain your information.
6. Telephone and Mobile Services (4%) – Telephone and mobile service fraud typically involves a user signing up for mobile services with another individual’s illegally obtained information.
7. Banks and Lenders (4%) – These types of fraud involve using deception to steal money or assets from a bank or other financial institution.
8. Shop-at-Home Catalog Sales (4%) – Shop-at-home catalog scams occur when a victim makes a purchase from a catalog, typically received in the mail, from an illegitimate company that will not deliver the purchased item.
9. Auto Related (3%) – These scams typically take place during the purchasing of a new vehicle, but can also come in the form of fraudulent letters regarding a vehicle’s warranty.
10. Healthcare (2%) – Healthcare fraud is committed when a dishonest provider or consumer submits false or misleading information to determine the amount of benefits payable.