28th May 2008
Bosses 'likeliest victims of ID fraud'
Company directors and those who own their own businesses are the most likely victims of ID fraud, according to a new study by Experian.
The financial analysts' latest survey saw a 66% year-on-year rise in ID fraud activity, as reported to it by fraud victims – up from around 3,500 in 2006 to more than 6,000 in 2007.
Entrepreneurs and successful businesspeople were found to be between two-and-a-half and three times more likely to fall victim to ID fraud than the average person in the UK.
And people living in London were on average twice as likely to fall victim as those elsewhere in the country.
Experian's findings echo KPMG Forensic's Fraud Barometer, which recorded a 12-year high in the value of fraud for 2007.
"The dramatic increases in identity fraud we have witnessed over the last few years have coincided with the increasing involvement of organised criminals in this space," said Helen Lord, director of fraud and compliance at Experian.
"The rate of identity fraud growth is worrying. Although some people are statistically more likely than others to become a victim, we should all be concerned. We are all potential victims."
Yesterday the Forum for Private Business warned of a scam involving the Data Protection Act that has been targeting businesses.
Under the act, firms are required to pay an annual notification fee of £35 to the Information Commissioner's Office. However, some businesses have recently received bogus requests for payment of up to £135.
The financial analysts' latest survey saw a 66% year-on-year rise in ID fraud activity, as reported to it by fraud victims – up from around 3,500 in 2006 to more than 6,000 in 2007.
Entrepreneurs and successful businesspeople were found to be between two-and-a-half and three times more likely to fall victim to ID fraud than the average person in the UK.
And people living in London were on average twice as likely to fall victim as those elsewhere in the country.
Experian's findings echo KPMG Forensic's Fraud Barometer, which recorded a 12-year high in the value of fraud for 2007.
"The dramatic increases in identity fraud we have witnessed over the last few years have coincided with the increasing involvement of organised criminals in this space," said Helen Lord, director of fraud and compliance at Experian.
"The rate of identity fraud growth is worrying. Although some people are statistically more likely than others to become a victim, we should all be concerned. We are all potential victims."
Yesterday the Forum for Private Business warned of a scam involving the Data Protection Act that has been targeting businesses.
Under the act, firms are required to pay an annual notification fee of £35 to the Information Commissioner's Office. However, some businesses have recently received bogus requests for payment of up to £135.
Tags: Professionals
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