14% increase in UK fraud

14 July 2008

Fraudsters target bank accounts and credit cards

According to CIFAS, the UK’s fraud prevention service, the number of confirmed fraud cases increased by 14% in the first six months of 2008 compared to the same period last year.

The group reported that there were 104,548 fraud cases filed between January and July with bank accounts and credit cards remaining the main targets for fraudsters. Loans and phone deals were the next most popular targets.

The south-east of England and London were the “top fraud hotspots” in the UK with more fraud cases being reported than other regions. East Ham in London topped the list for the most prevalent fraud cases.

Sandra Peaston, research manager at CIFAS, said: “Although it is not expected that fraud should be at its most prevalent in cities, it is remarkable that almost all fraudulent activity is concentrated in and around London.

Many elements conspire to make this the hub of activity for fraudsters, not least because they may feel that the population density affords anonymity.

“London is a city of stark contrast where extraordinarily wealthy and socially disadvantaged people often live in close proximity.

“This can both provoke and help to facilitate fraudulent behaviour,” she added.