QUESTION: Do the local police bother to report a credit card fraud? I heard on another website that Federal Trade Commission rarely investigates a case that is less than $2000, right?
ANSWER: The Federal Trade Commission does not publish its criteria for actually enforcing consumer rights. In my experience, the FTC will only go after an individual or a company that has violated the rights of many consumers.
Generally, the local police may not have the resources to pursue fraud charges. Nevertheless, if you are the victim of any fraud or identity theft, you are encouraged to lodge your complaints with the authorities. I recommend that people complain to the following organizations:
1) your local police;
2) the Federal Trade Commission;
3) the Consumer Financial Protection Bureau;
4) the local Better Business Bureau; and
5) the Attorney General.
Ultimately, even if none of these organizations will do anything proactive for you, you will have a copy of the reports (or complaints) that you will need to send back to the credit card company and/or the credit bureaus to clear your name.
If the police report does not satisfy the credit card company, you might want to go one step further with an affidavit. Depending on the extent of damage to you, you may want to contact a consumer rights attorney to assist in drafting your affidavit.
This information is provided for educational purposes only. There is no attorney-client relationship with Karni Law Firm until a contract is signed by the attorney and the client.