Recession 'boosts UK fraud incidents'
Commercial insurance
7th August 2009
The number of incidents of fraud increased during the first half of 2009, with a 43 per cent rise in victims of impersonation, new data has revealed.
According to the figures from CIFAS, the UK's Fraud Prevention Service, identity fraud jumped by 74 per cent compared with the first six months of 2008, as criminals "return to old favourites with a vengeance" during the recession.
Based on information from the organisation's 260 members, the report also showed a continued rise in facility takeover fraud by 40 per cent, something that may interest insurance for business customers.
However, cases of application fraud fell by 25 per cent and losses avoided as a result of data sharing by members of CIFAS rose by 11 per cent over the period in question.
Richard Hurley, CIFAS communications manager, commented: "While fraud and fraudsters continue to wreak havoc on businesses and consumers alike, it is very reassuring to see that fraud departments are doing an excellent job."
A recent CIFAS study of fraud incidents by police forces found that the highest numbers of impersonations or facility takeovers in the UK are in the London Metropolitan, Thames Valley and West Mercia areas.
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