Identity theft cases rise 66%

by Gill Montia

Story link: Identity theft cases rise 66%

A new report from credit agency, Experian, reveals a 66% increase in identity theft cases.

Last year, 6,000 consumers who had fallen victim to the crime contacted the company’s fraud team, compared with 3,500 in 2006.

Experian has used data gathered from 10,000 victims to produce an identity fraud propensity model that pinpoints the types of people most likely to fall prey to an identity fraudster.

The research also highlights the areas of the UK where high proportions of those most at risk live.

Key risk groups include high-earning professionals aged between 26 and 45, who are home owners, and young people who live in rented accommodation.

Those with salaries in excess £50,000 are almost three times more likely to fall prey to an identity thief than someone on an average salary and directors of companies that employ over 50 staff are five and a half times more at risk.

People in rented accommodation provide a good resource for this type of fraudster because they often share mailboxes and move house frequently.

According to Experian, forwarding address fraud, where the fraudster redirects the victim’s post to an address where he or she can then collect it, accounts for 36% of all identity fraud.

In terms of a victim postcode lottery, residents of College Gardens in London’s Tooting are most at risk with Great Cambourne in Cambridgeshire and Far Cotton near Northampton are other hotspots for the crime.