ID fraud on the increase

New figures show that the number of people who are victims of identity fraud has increased by about 20% during the first part of 2010, when compared to the first three months of 2009.  In fact, during the first three months of 2010 almost 27,000 people fell victim to a fraudulent activity.

Out of these people, about 45% of the frauds are successful and go undetected by banks, which means that consumer simply loses the money due to the fact the bank will not refund the money.  The data comes from Cifas, the fraud prevention agency.

In the past fraudsters were successful by using an old address of the victim, but now a bit over half of all cases involve the use of the current address of the victim, which Cifas representative Richard Hurley said will make an application look more legitimate, which makes it harder for the fraud to be detected.

The release of the figures come at the same time as Which? issued a warning that millions of people are still placing their accounts at a high risk of fraud by writing down their pin and then keeping the note somewhere in their handbag or wallet.

Martyn Saville of Which? said that the results of their latest survey show that there are too many people taking risks with their finances because they do not take basic precautions to protect themselves.  Saville continued to note that writing down your pin and keeping it with you like leaving the front door open and hoping nobody walks in.