CIFAS reveals geography of UK fraud

by Gill Montia

Story link: CIFAS reveals geography of UK fraud

New research from CIFAS names London (including Greater London) as the UK’s key hotspot for financial crime.

The fraud prevention service, which represents financial services firms including banks and credit card providers, has listed the top ten favoured post codes as follows: SE18 Plumstead; IG11 Barking; E6 East Ham; SE15 Peckham; SE28 Thamesmead; E17 Walthamstow; CR0 Croydon; E7 Forest Gate; E16 Bromley by Bow; E13 Plaistow.

CIFAS research manager, Sandra Peaston, comments: “London is a city of dense population where material wealth and disadvantage can be found in close proximity. It is therefore perhaps unsurprising that the most active fraud hotspots should be centred around the London area.”

However, the London weighting is substantial, with only three postal districts in the top 30 outside the Capital.

Croydon also takes the lead for impersonation fraud (where the fraudster uses details to apply for accounts in the victim’s name) and facility takeover fraud (where the fraudster hijacks and plunders the victim’s account).

Research on facility takeover fraud also show that Maidenhead, Aldershot, Beckenham, Birmingham, Hove and Leicester are hotspots.

CIFAS communications manager, Richard Hurley, comments: “The geographical spread of victims is proof of the dangers faced by modern consumers … the range of locations where victims of takeover are to be found … underlines how often this traumatic type of fraud is carried out remotely.”

Earlier this month, CIFAS reported that facility takeover fraud had increased by an annual 207% in 2008, to 19,275 reported incidents.