Recent figures released by Cifas, the UK’s fraud prevention service, shows that more than 60% of all fraud committed in the UK involves identity theft and the misuses of personal data. The news that identity theft is a major problem, is nothing new, but the extent of its reach may still come as a surprise. The Fraudscape report highlights the fact that, despite the introduction of new technologies and even new laws, the problem has still grown. It went on to say that organisations and businesses need to do more to protect the interests of their customers, clients, and users.
Identity theft is rife, and part of the problem is that criminals have a wide range of methods they can employ to steal personal data. While a lot of attempts are digital and online based, old fashioned physical data theft and even rummaging through bins is still one of the primary means by which thieves are able to steal the data that they seek. Although thieves fare better with more data, even a single piece of information such as a national insurance number can be used to their advantage.
According the Fraudscape report, a massive 129,500 were victims of identity fraud during 2013. Online fraud is the most common type, with more than 90% of identity thefts occurring on the Internet or via email. Overall, the total level of fraud was actually down 11% compared to 2012 but Cifas said that this was not cause for celebration because this is compared to the seemingly anomalous figure of 250,000 frauds in 2012 and following two years of hefty increases. 221,000 frauds were committed during the twelve months of 2013 and this equates to 600 cases every single day.
Credit and store cards were most frequently targeted, and accounted for 30% of incidents, while 26% included mortgage fraud while bank account fraud was down to 14%. The report authors said that any decrease in fraud was obviously a good thing, but that businesses and organisations can still do a lot more to help prevent themselves, their employees, and their customers and clients.