High rate of fraud and identity theft revealed

by Richard Kilner

Story link: High rate of fraud and identity theft revealed

Infosecurity Europe researcher’s have conducted a survey revealing that, out of 1,000 London commuters, 44% had been victims of bank/credit card fraud and 42% had had their identity stolen.

Those who were victims of such crime lost an average of £1,448, and had a 37% chance of not getting their money back from their bank.

The chances of getting the money back is largely dependent upon the sum that has been stolen, with more than nine out of 10 getting it back if the stolen amount exceeded £5,000, but only 41% getting it back if they lost £100 or less.

The public mostly (60%) blame retailers for fraud/identity theft, with 12% only considering the banks to be at fault and 28% blaming themselves.

The internet was considered riskiest for crime, with face-to-face transactions in second place followed by telephone transactions.

Infosecurity Europe Event Director Claire Sellick has attributed the high rates of fraud and identity theft to the ingenuity of the criminal fraternity, adding that there was a constant war between the miscreants who perpetrate fraud and the security industry.

Consumers are advised to keep their PCs updated as necessary, only to visit reputable websites and only to purchase from secure ones.

The survey follows news that, according to CIFAS, identity fraud has spiked by 32% in 2009 compared to the previous year.