Identity fraud was the dominant fraud threat in the first quarter of 2015, according to the counter-fraud trade body for banks, insurers and others Cifas.
Some 34,151 confirmed instances of identity fraud were recorded in the first quarter of 2015. This represents a 27 per cent increase from the same period of the previous year and accounts for near half (47pc) of all frauds recorded in the first quarter. Identity fraud is when criminals abuse personal data to impersonate an innocent victim or to create fictitious identities to obtain products and services.
Recorded frauds increased by 5pc in the first quarter of this year (compared with 2014), according to the latest figures from Cifas. The trade body also reports:
The number of recorded victims of identity fraud increased by 31pc, from 24,482 to 32,058.
Credit cards (14,103 confirmed cases – 41pc of all identity frauds) and bank accounts (9,349 cases – 27pc of all identity frauds) are the identity criminals’ preferred targets.
Over 80pc of all identity fraud in the first quarter was attempted or perpetrated online.
The average age for both male and female identity fraud victims is aged 46.
Those in the 21 to 30 age range continue to be increasingly targeted – 3,970 people in this age range were targeted by identity criminals (16pc of all identity fraud victims): a 26pc increase from 2014.
These findings are in line with the findings identified in Cifas’ Fraudscape report (published in March). The latest data shows that these trends have been maintained so far this year and that identity fraud remains the biggest fraud threat amongst Cifas members.
Simon Dukes, Cifas Chief Executive, said: “Fraud figures fluctuate over time, as fraudsters adapt and try new ways of achieving their aims. What these figures show is that identity fraud continues to be the most serious fraud threat and that the first quarter of the year has been a very profitable one for organised identity criminals. Our data is just the tip of the iceberg – more needs to be done to identify the true scale of fraud in the UK and educate individuals about the dangers and the steps that can be taken to protect themselves.”
And Detective Chief Superintendent Dave Clark, from the City of London Police, said: “Identity fraud is at the heart of much of today’s criminality, acting as a key facilitator for a host of other types of offences. To stop this from happening we must all take responsibility for protecting our personal information, especially when working and playing online. By following some simple procedures, such as creating strong passwords, protecting internet connected devices with up-to-date security software and not sharing too much personal information online, we can make life much more difficult for the identity fraudsters and ensure fewer of us fall victim to what is a highly disruptive and upsetting crime.”
Comment
Barry Scott, CTO EMEA at unified identity management product company, Centrify, commenting on the recent findings by Cifas that the number of people falling victim to identity theft has risen by almost a third, says: “The figures are not that surprising given that we spend so much time online nowadays – whether its social networking, banking or shopping, the security of our personal information, and more importantly, our identities, is being put at risk on a daily, if not hourly, basis.
“A recent survey by Centrify echoed these findings, showing that identity theft is one of the top concerns among consumers, followed closely by credit card information being stolen. Despite these fears, it seems we have very little faith in the security of the passwords we use online – just 15pc of us believe our passwords are very secure. Yet good having ‘password hygiene’ when accessing online accounts – despite our frustrations at having to remember so many passwords – is absolutely fundamental to being safe online and protecting your identity.”
Visit https://www.cifas.org.uk.
