Report: Florida is the Most Vulnerable State to Identity Theft and Fraud
According to a recent report from WalletHub, Florida has the dubious distinction of being named the most vulnerable state to identity theft and consumer fraud in 2020. This is not the first time that the personal finance organization has recognized Florida as being the most vulnerable state to fraud. Unfortunately, consumer and business fraud have long been problems in Florida, particularly South Florida. In this article, our Miami business & consumer fraud attorneys provide a more detailed assessment of the findings in the report.
Florida and Consumer Fraud: An Overview of the Data
In its assessment, WalletHub compared all 50 states and the District of Columbia across 14 different metrics. They found that Florida is the single most vulnerable state to identify theft in Fraud, coming in just ahead of—or, more accurately, behind—South Carolina, Delaware, Nevada, and New Jersey. Here are three specific things that the researchers found about Florida.
- Most Identity Theft Complaints Per Capita: WalletHub found that Florida has the most identity fraud complaints per capita in 2020. Unfortunately, identity theft continues to be a serious problem throughout the entire country. The total number of identity theft complaints were higher in Florida in 2020 than in the comparable period of the previous year.
- Most Total Fraud Complaints Per Capita: Identity theft is far from the only problem in Florida. Not only did our state have the most identity theft complaints per capita, it also had the highest number of total consumer fraud complaints per person. Fraud comes in a wide range of different forms, from credit card fraud to phishing schemes.
- High Average Loss Amount: It is reasonable to wonder if Florida’s higher level of total fraud complaints mean that each incident involves a lower level of financial loss on average. Sadly, that is simply not the case. Despite having the higher per capita number of fraud complaints, Florida also has one of the highest median consumer fraud loss amounts in the entire country. In other words, Florida has a lot of fraud and each fraud case represents a significant financial loss for the victim.
If you were the victim of fraud, it is imperative that you take immediate action to protect yourself and your finances. The sooner you address fraud, the better your chances to recover money for your financial damages. Among other things, experts recommend reviewing your accounts, documenting the fraud, and freezing your credit. Our Florida fraud attorneys can evaluate your case and help you take action to get accountability and compensation.
Contact Our South Florida Fraud Lawyers for Professional Guidance and Support
At Pike & Lustig, LLP, our Florida business and consumers fraud attorneys are skilled, results-driven advocates for our clients. If you were the victim of fraud, we will protect your legal rights. Call us now for a free, confidential review of your case. From our offices in Miami and West Palm Beach, we represent fraud victims throughout South Florida, including in Boca Raton, Boynton Beach, Coral Springs, Fort Lauderdale, Jupiter, and Pembroke Pines.