THE RETAIL BULLETIN - The home of retail news
Lest we forget
HOME
RETAIL NEWS
RETAIL EVENTS
Fashion
Department Stores
Shopping Centres & Retail Parks
Home & DIY
Electricals
Health & Beauty
General Merchandise
Entertainment
Sports & Leisure
Retail Solutions
Food & Drink
Interviews
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT US
CONTACT US
SUBSCRIBE FOR FREE
Fraud continues to pose problems in 2010

The analysis of fraud trends during the first quarter of 2010 by CIFAS reveals a 19.86% increase in identity fraud when compared with the same period in 2009.

GENERAL MERCHANDISE

Fraud continues to pose problems in 2010

The analysis of fraud trends during the first quarter of 2010 by CIFAS reveals a 19.86% increase in identity fraud when compared with the same period in 2009.

Identity fraud has always been a sinister crime – fraudsters using the names and details of innocent victims to generate their criminal cash-flow. An increase in identity fraud of 19.86% in the first quarter of 2010 (compared with the same period in 2009), therefore, is cause for concern. As CIFAS has previously reported, however, the surge in identity frauds that make use of the victim’s current address details (which are therefore more sophisticated and difficult to detect) is a trend that has become more pronounced during the past 12 months. A 44.73% increase in identity frauds where the facility, product, policy or claim was granted (fraud was proved when it was too late, only after the facility had been offered,) is proof of this sinister development.

CIFAS Communications Manager, Richard Hurley, comments: “The increase in the use of a victim’s current address and details makes the ‘impersonation’ seem more realistic and, therefore, difficult to detect and prevent due to the applications seeming so plausible. The challenge for us all, therefore, is to battle against the sophisticated criminals that perpetrate these crimes.”

Unsurprisingly, in light of this increase in identity fraud, the number of victims of impersonation has also continued to rise. Nearly 27,000 victims of impersonation were recorded by CIFAS Members during the first three months of 2010: an increase of just over 6,000 (22.86%). Victims of impersonation frequently report feelings of uncertainty, helplessness and not knowing who to trust – on top of the financial impact suffered and the time taken to rectify the damage. The impact of fraud, therefore, must always be seen as something far greater than just a financial one.

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

The Retail Design Seminar 2018
The Retail Design Seminar 2018
14 November 2018
The Cavendish Conference Centre
The Retail Design Seminar 2018
Omnichannel Futures Conference 2019
Omnichannel Futures Conference 2019
6 February 2019
Cavendish Conference Centre, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Customer Engagement Conference 2019
Customer Engagement Conference 2019
5 June 2019
Cavendish Conference Centre, London W1
The 10th Annual Retail Customer Engagement Summit
AI in Retail Conference 2019
AI in Retail Conference 2019
18 September 2019
Cavendish Conference Center, 22 Duchess Mews, London W1G 9DT
Retail marketing is changing pace rapidly by making communication across all platforms personalised, relevant, efficient, and helpful. AI not only helps shoppers find a perfect product but also pre-empts the shopping behaviour and speeds up payment.
The HR Summit 2019
The HR Summit 2019
Tuesday 8 October 2019
The Cavendish Conference Centre, London W1
The 11th HR Summit 2019, The Cavendish Conference Centre, London W1, 8 October 2019