Identity Fraud: Do you know the signs?

Identity Fraud is a growing problem which is estimated to cost the United Kingdom economy £1.7 billion per year.  Individuals, sole traders, businesses and government departments can all become the victims of identity fraud.

Over 4 million people in the UK claim to have been the victim of identity fraud at some stage.

In 2006 the number of identity frauds detected by members of CIFAS, the UK’s Fraud Prevention Service, increased by 21.57% to 80,377 (up from 66,117 in 2005).  The number of victims of impersonation also increased by almost 20%.

Corporate identity fraud is estimated to cost in excess of £50 million a year.

The Fraud Advisory Panel has produced two Guides to help individuals and businesses manage the risk of identity fraud.  These Guides cover the ways in which identity fraud can manifest itself, how to detect identity fraud and some of the steps which can be taken to reduce the risk of becoming a victim.

About Jason Lessard