The fight against fraud at our fingertips

Feb 3 2010 by Chris Knox, The Journal

As well as wide-scale job losses and failing businesses, another consequence of the economic downturn has been the rise in fraud cases. Christopher Knox finds out more.

FRAUD costs the UK £30bn each year.

£18bn of fraud was committed in the private sector in 2009, including £3.8bn in financial services.

Outside London and the South East, the North East had the highest number of serious cases last year, with 42 involving £100,000 or more out of a UK total of 271.

54% of all businesses have been the victim of fraud over the last 12 months. Members of fraud prevention service CIFAS reported nearly £1bn in savings last year from sharing fraud information.

Top three most common frauds are ID fraud (44%), application fraud (25%) and misuse of credit facility (22%).

Credit card fraud rose 6% over 2008-2009 with a quarter of all adults claiming to have fallen victim.

Credit card cloning from cash points and chip and pin devices accounts for 17% of all cases.

The average sum fraudulently stolen is £590.

One in six victims have reported a loss of more than £1,000.

Cardiff tops the table for worst cities for card fraud, with Newcastle sixth. Data from KPMG, CIFAS and identity protection service CPP.