UK Money News
12th June 2008
'Low risk factor' is fuelling rise of ID fraud
Criminals are committing more and more ID fraud and credit card crime because of low risks they represent compared with other forms of theft, a credit rating agency has claimed.
According to Neil Munroe, external affairs director of Equifax, the crime is on the rise because whereas breaking into a house or a bank carries a high risk for the perpetrators, credit card crime is an "easy and economical way for criminals to obtain money".
Mr Munroe also identified the rise in the use of cards online as a factor behind the wave of the crime.
He said: "It’s also on the increase because fraudsters have recognised that we all generally benefit from an electronic world.
"In this day and age we are all a lot more credit active and a lot more active on the web and fraudsters have realised that there is a lot of information around that they could get from people that they may not have been able to get ten years ago when the web was less developed."
In May 2008 Experian reported a 66 per cent increase in the number of fraud cases that were dealt with by its staff.
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