Identity fraud will accelerate this year

Over recent years more and more people have become concerned about becoming victims of identity fraud, and with the methods used by fraudsters becoming increasingly sophisticated, and security breaches by firms causing added concern, many people now have become almost paranoid about falling victim to this sort of crime.

A report has now been released by the credit reference agency Experian, claiming that the level of identity fraud in the UK is set to increase over the course of this year as a result of organised criminals targeting wealthier consumers.

The report claims that out of all identity fraud carried out last year a massive 72 percent of it was carried out in the latter part of the year. The data also showed that those most at risk from the fraud during this period were company directors and business owners.

Compared with 2008 the level of identity fraud last year increased by around 20 percent according to Experian, and the hotspot area for this type of fraud was London.

Other high risk areas included Manchester, Cardiff, and Salford. Experian said that there was also an increase in the number of people committing fraud for their own benefit, such as those committing fraud in order to be able to get finance. It is thought that this type of fraud will continue to increase as a result of restriction on lending and possible increases in unemployment.

An official from Experian stated: “Attempted fraud is on the increase and the nature of the threat is changing. Organised criminal fraudsters are moving into the mass-market, looking beyond those with obvious wealth towards lower-value but more vulnerable targets. At the same time, financial stress brought about by the recession is driving increasing numbers of people to commit fraud to maintain their lifestyles.”