Identity theft on the rise

There was a large increase in the incidents of identity fraud that were reported during 2010 according to the UK Fraud Prevention Service CIFAS.  The results found a growth of 14% as compared to 2009.

In particular, the number of people who reported they were victims of impersonation in which a criminal takes on someone else’s identity in order to purchase goods fraudulently or access personal details has increased year end by 22%.

The intense focus of the media on identity theft has increased awareness of the problem among consumers but even though the media offers tips for how to reduce the personal threat of being victimized, the numbers of such crimes continue to increase.

According to figures from CIFAS, on average over 275 people become a victim of some form of identity theft each day.

With the increase in identity fraud, it is an excellent idea to purchase some type of identity protection insurance to protect you should a criminal get their hands on your personal information.

CIFAS Chief Executive, Peter Hurst, stated that the recession may be partially to blame for the increase in such crime because as the UK continues to climb out of the economic hole there have been obvious changes in the patterns of fraud taking place with more application fraud at first followed by takeover fraud which has transpired into a strong emergence of identity fraud.

Hurst added that as the economic recovery continues to progress it is almost a guarantee that fraudsters will start to work harder at taking advantage of the fact.