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Fraud Updates 2008
20 October
The Financial Times today reported on a survey by Dynamic Markets which has found that while 99% of people were aware of identity theft, only 35% knew how to effectively protect themselves from it.
What is curious is that while the survey would suggest nationwide figures of 4m people being effected by identity theft, CIFAS figures in 2007 showed only 65,000 cases of identity theft.
According to the Financial Times, the authors of the report believe the disparity in the figures could be due to identity theft being reported to the retailer or bank concerned rather than the police.
It seems that fears of under reporting after the introduction of the new reporting rules in the Fraud Act 2006 may well be justified. If this is the case, the true extent of identity theft will be unknown as a result of which, fraud may remain a low crime reduction priority. This is worrying in a growth crime area and leaves it up to individuals and businesses to take precautions in order to minimise the risk of losses from identity fraud.
| September 2008 |