Account misuse drives rise in UK fraud levels
Bank account fraud in the UK increased 48% in the first four months of this year, with a 57% rise in the number of identity frauds compared to the same period last year.
Bank account fraud in the UK increased 48% in the first four months of this year, with a 57% rise in the number of identity frauds compared to the same period last year.
Credit and store cards have returned to the top of the list of fraud targets, with a 28% increase in the first four months of the year – at a time when overall fraud levels fell by 16.5%.
Identity theft soared during 2012, accounting for half of all financial fraud in the UK. This drove the level of account takeover frauds up by 53% during the year, according to CIFAS, the UK Fraud Prevention Service.