CIFAS – the UK’s Fraud Prevention Service, today released Fraudscape: a report that analyses fraud recorded by over 300 organisations during 2013. While overall fraud levels decreased in 2013 by 11% compared with 2012, analysis in Fraudscape reveals trends, including increases in card, mortgage and loan fraud and a decrease in bank account fraud.
Identity related crimes – frauds where criminals misuse the personal data of victims – still accounted for over 60% of all fraud in the UK in 2013.
It shows that the UK must not be complacent. While a reduction in fraud might seem to be good news, CIFAS Communications Manager, Richard Hurley, comments: “… it is clear that the 11% reduction is not quite as rosy a picture as one might hope. “Not only does Fraudscape confirm how quick and ingenious fraudsters are (quickly targeting organisations that are not part of the joined-up counter-fraud community in the UK), but also shows that there is no cause for complacency.
“While any reduction in fraud is good, this report demonstrates that the fraudsters have merely changed tactics. It is up to the collective efforts of the UK’s public and private sectors therefore to do more to do to protect its reputation as a safe place to do business. Otherwise, we collectively leave our wallets in full view to be stolen by the fraudsters.”
With over 221,000 frauds recorded in 2013, that is over 600 frauds every day. This provides a frightening indication of what true UK fraud levels really are, given the number of public and private sector organisations that do not yet participate in joined up, counter fraud systems such as CIFAS.