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Identity fraud crime shoots up

Published on 3 Feb 2010 under category: legal

Identity fraud increased by 31 per cent last year, according to a new trends report.

CIFAS, the UK's fraud prevention service, found that the increase chimed with an overall growth in all kinds of fraud.

The crime, described as using a 'stolen or false identity to obtain goods or services', and its resurgence has been directly linked to the recession.

Stricter lending rules from banks and building societies have meant that fraudsters specialising in application fraud have moved onto identity fraud, according to the service.

However, consumers and companies possessing valuable data on customers seem to be aware of the higher risk – resulting in a 241 per cent year on year - hyphenate? increase in membership at CIFAS's Protective Registration.

The organisation claims that there were over 85,000 victims of impersonation and 24,000 victims of account takeover recorded in 2009.

Communications manager at CIFAS, Richard Hurley, said: "Fraudsters are adapting their approach in an attempt to ensure that their profits do not suffer during the recession, with absolutely no thought for the profoundly damaging impact this has on their victims."

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