Card identity fraud on the rise

Identity fraud has risen in 2018 with over-60s and those aged 21 and under becoming prime targets. That’s according to the latest annual report from UK fraud prevention service Cifas, which revealed a dramatic 34% spike in identity fraud victims among the over-60s to over 33,000. This represents a significant jump compared to an overall 6% rise in cases recorded by Cifas.
As older people are perceived to be more likely to be approved for credit, they have found themselves increasingly targeted. Pensioners are not the only targets as the number of identity fraud victims aged 21 and under have soared by 26% over the same period. Commentators believe the continuing increase in the number of young victims of identity fraud is a clear signal that the need for education on the risks of fraud is pressing. According to the report, identity fraud cases hit a record high of 189,000 in 2018, with plastic cards in particular being targeted by fraudsters.
“Identity fraud to obtain a plastic card account, more than nine in 10 of which were personal credit cards, increased by 41% in 2018 to more than 82,000 reported cases,” comments Cifas. Misuse of facility fraud also rose significantly last year, increasing 10% and accounting for a quarter of all reported fraud cases. Cifas says this type of fraud happens when an account, policy or product is misused.

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