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Auctions No. 1 Net fraud
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August 29, 2000: 12:56 p.m. ET
FBI says online auctions are prime hunting ground for swindlers
By Staff Writer Tatiana Helenius
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NEW YORK (CNNfn) - Online auctions are the No. 1 source of fraud on the Internet, according to a nationwide FBI tally.
The information is based on consumer complaints lodged with the Internet Fraud Complaint Center (IFCC), a joint project of the Department of Justice and the FBI.
 The Center has received some 10,000 complaints since it began operations on May 8.
Of that number, auction fraud was the most frequently reported complaint, at 48.8%. Non-delivery of goods purchased was reported 19.2% of the time, with securities and commodities fraud a close third at 16.9%.
Other major complaints include credit card fraud (4.8%), identify theft (2.9%), fraudulent business opportunities (2.5%) and professional services (1.2%), travel scams (0.3%), and Ponzi or pyramid schemes (0.3%). Check fraud ended the rundown, being reported 0.1% of the time.
FBI agents reportedly have referred just over 4,000 cases to other law-enforcement agencies, according to a spokesperson at the IFCC. 
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