According to a survey released by fraud prevention service CIFAS, almost 250,000 confirmed fraud attacks have been identified in 2012 by CIFAS Members and over 150,000 cases have had an identifiable victim.
The same source mentions that the fraudulent use of identity details (either those of an innocent victim or completely fictitious ones) is the biggest and most perturbing fraud threat. The findings indicate that 50 percent of all fraudulent actions identified during 2012 relate to the impersonation of an innocent victim or the use of completely false identities.
The takeover of customer accounts has also grown by 53 percent from 2011. Facility (or account) takeover fraud means that a fraudster gains access to and hijacks the running of an account (theft of security details through computer hacking, interception of post details, social engineering through popular websites). CIFAS also reveals that, during the period under review, the number of victims of both types of fraud has also gone up by 24 percent.
On the other hand, research points out that fraud attacks committed by the genuine account holder or applicant have all declined. According to data, the most notable decrease has been registered in fraudulent misuse of an account (Misuse of Facility fraud) which has decreased in 2012 by over 15 percent from the record levels seen in 2011.
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