| CIFAS, the fraud prevention service in the UK, have | | | | safe from fraudsters. Bank accounts, mail order and |
| conducted a recent study which has shown that | | | | communications are named by CIFAS as the highest |
| cases of fraud are rose in number in 2009. | | | | increasing areas of fraud. |
| The economic decline could be the cause of many | | | | These untoward statistics have been said to be a |
| more people becoming inclined to commit fraudulent | | | | result of the stricter scrutiny of credit card applications |
| offences. | | | | which has occurred during the credit crunch. |
| Bank account fraud, it has been revealed in the study, | | | | It is true that at present only one out of three credit |
| has risen by a whole 10%: 80,105 cases were reported | | | | card applications is actually accepted. Because of this |
| in 2009 compared to 72,988 the year before. | | | | scrutiny, fraudsters are unwilling to try their luck with |
| Conversely, the figures also show that plastic card | | | | credit cards and may be turning to other fields to use |
| fraud cases are bizarrely going in the other direction | | | | their expertise. The fact that application fraud in this |
| and decreasing. | | | | category has risen decreased by 36%, which is the |
| In marked contrast to the other figures, fraud involving | | | | biggest decrease in all of the credit card fraud areas, |
| plastic had actually declined since 2008. Credit card | | | | further evidences this. |
| figures dropped by 9.98%, almost the same figure | | | | Added protection which has been introduced to |
| which bank account fraud rose by. | | | | protect cards during internet transactions is another |
| Identity fraud is the most common kind of credit card | | | | main reason identified for the decrease in the credit |
| fraud, which makes it surprising that even here there | | | | card category and is likely to be of interest to |
| was evidence of a decrease in cases. In all the other | | | | consumers looking to compare credit cards. |
| categories, identity fraud showed a definite rise. | | | | For example, applications to the Barclaycard Platinum |
| 'Fraudscape' was the name given to this report, | | | | with Balance Transfer credit cards could be boosted |
| conducted by CIFAS. The organisation have examined | | | | by the active fraud monitoring that comes with the |
| the cases of financial crime over 2008 and 2009 and | | | | card. |
| compiled this report in order to better examine the | | | | There are also more recorded 'current address' |
| trends which have become apparent over the last | | | | frauds, where the current address of the victim is |
| two years. | | | | used, within this category. Although the figures are |
| In addition to a 10% overall rise, a 32% increase in | | | | lower, current addresses have been more frequently |
| identity fraud was also shown. | | | | used, rather than previous ones. This could signify a |
| Identity fraud (or identity theft) refers to the cases in | | | | more cunning and adaptable average fraudster. |
| which a false name or the existing name of an | | | | In some cases, the authenticity of the figures has been |
| unaware individual is used by the fraudster. Although | | | | challenged. Some argue that some of these figures |
| middle-aged men are most commonly targeted in | | | | are simply consumers who claim to have been victims |
| cases of identity fraud, the CIFAS study showed an | | | | of fraud but have secretly actually spent the money |
| increase in female victims, meaning that noone is really | | | | themselves. |