01 September 2014

ID theft drives rise in UK fraud cases - Cifas

21 January 2013  |  4870 views  |  0 ID Fraud

The number of recorded fraud cases in the UK rose five per cent last year, to nearly 250,000, according to Cifas, with identity theft accounting for more than half of all incidences.

The fraud prevention service says its members identified 248,325 cases in 2012, 150,000 of which had an identifiable victim.

In total, 123,589 of the cases involved the fraudulent use of identity details (either those of an innocent victim or completely fictitious ones), a nine per cent increase on 2011.

Furthermore, facility takeover fraud - where a crook gains access to and hijacks the running of an account - rocketed by 53%. This means that those frauds where the criminal requires identity details accounted for 65% of all cases in 2012.

In contrast, fraud carried out by actual account holders fell 15% to just under 46,000. A large chunk of these cases appear to be people acting as money mules for criminals.

Peter Hurst, chief executive, Cifas, says "it is time for all organisations and consumers to start reviewing their approaches to preventing fraud rather than just dealing with its effects. Investment in proper fraud prevention systems and approaches, from online security to data sharing, and education are the cornerstones of such an approach and - without them - the only thing that is guaranteed is an ever increasing fraud losses to organisations and society at large."

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Related blogs

Create a blog about this story (membership required)

Related stories

21 January, 2013
08 January, 2013
23 November, 2012
17 July, 2012
03 November, 2011
26 January, 2009

Who is commenting?

Featured job

to AED 515,000 (including base & bonus), plus livi...
Dubai, UAE

Find your next job