Subscribe to The Money StopNews Feed

Browse > Home / News, News-Credit-Cards / Credit card fraud on the rise, according to Experian

Credit card fraud on the rise, according to Experian

July 31, 2007 by admin  
Filed under News, News-Credit-Cards

Leave a Comment

Identity fraud, with thieves taking credit card numbers from victims, is on the increase, financial information provider Experian said today.

Recent research from the company shows a 69 per cent year on year rise in identity fraud between 2004 and 2006.

Experian spokesperson Peter Brooker said that a new generation of fraudsters was taking the theft of credit card numbers as a mere starting point.

“One of things we are seeing is that there is an awful lot of current and previous address fraud”, he said. This occurs when “the fraudsters are actually, not just taking over people’s accounts or using various methods to get hold of people’s credit card numbers, but are actually taking their entire identity”.

Research from KPMG, out today, shows that overall rates of fraud are rising dramatically, valued at a total of £594 million in 107 cases coming to court already this year.

This beats the overall totals for the years 2000-04, combined, with KPMG terming the figures a “step change” in fraud rates.

Tags:

Related Entries

  • Consumers should exercise common sense when using credit cards abroad
    • An industry expert has said that with the summer holidays coming up, and many Brits planning to head abroad and use their credit cards, consumers need to ensure that they use their common sense when
  • Overseas credit card fraud increases
    • An increase in the amount lost as a result of credit card fraud has been driven by fraud on UK cards used abroad. New research from Apacs revealed that over the first six months of this
  • Card fraud rife despite Chip and Pin
    • A few years ago the nation was introduced to Chip and Pin technology which was a new type of technology that had been designed to increase security for plastic card users and to cut down
  • Holiday dangers for credit card users
    • Holidaymakers are at a growing risk of credit card fraud when they are out of the UK, new research has warned. Data published by Apacs this week shows that using credit cards in countries with
  • Holiday card fraud on the rise
    • Travellers are being warned to be extremely vigilant when using their debit or credit cards abroad as card fraud continues to soar. Research by InsureandGo shows that the number of fraud incidents has increased since Chip
  • Internet card fraud is down
    • Internet card fraud fell during the Christmas period, despite a huge increase in the number of online transactions.Figures from internet fraud-prevention specialists Early Warning show that although shopping on the net increased by 40 per
  • Online Banking fraud levels on the up
    • These days more and more people are using online banking facilities in order to carry out their banking transactions, and with an increasing number of banks offering these facilities online banking has become very popular
  • Online banking fraud rises
    • More of us are falling victim to online banking fraud, with new figures showing a huge increase within the last 12 months.Apacs, the UK payments association, says there was a 44 per cent rise in

Speak Your Mind

Tell us what you're thinking...
and oh, if you want a pic to show with your comment, go get a gravatar!