It turns out almost 500 identities in the UK are being stolen on a daily basis – with identity fraud cases not only soaring to 89,000 in the first half of the year, but also representing more than half of overall fraud cases.
What’s even more troubling, if we look at the figures released by fraud prevention service Cifas, is that more and more fraudsters are stealing identities to take out insurance policies. While technically there are more of them using someone else’s information to apply for bank accounts, the percentage rise from last year for insurance products is certainly eye-catching.
Here are the numbers:
.jpg)
Click to enlarge
Again, that’s an increase of more than 10,000% for identity fraud when it comes to insurance. Also note that ID fraud does not even need a victim for impersonation, as there are cases where an entirely fictitious identity is used.
Simon Dukes, Cifas chief executive, commented: “We have seen identity fraud attempts increase year on year, now reaching epidemic levels, with identities being stolen at a rate of almost 500 a day. These frauds are taking place almost exclusively online.”
He said the vast amounts of personal data available either online or through data breaches make it easier for fraudsters. “Criminals are relentlessly targeting consumers and businesses, and we must all be alert to the threat and do more to protect personal information,” he said.
The City of London Police’s Economic Crime Directorate continues to work with banks, retailers, and other industry members to disrupt fraudsters activity.
“Be careful who you give your information to, always consider whether it is necessary to part with those details,” advised Detective Superintendent Glenn Maleary, head of the directorate.
Cifas compiled the data from identity fraud cases that have been recorded on its National Fraud Database by more than 400 member firms. The not-for-profit fraud data sharing organisation said 83% of identity frauds were perpetrated online.
Related stories:
Lots of new car policies in Cornwall? It’s insurance fraud
