Tag

cifas

21
May
2015
0

Plastic remains fantastic for fraudsters

Cifas are the leaders in fraud prevention, enabling organisations in every sector to prevent fraud and protect the public – by sharing data, spreading knowledge and pushing the capabilities of technology. OS has been supporting Cifas for over six years now, by helping to communicate how fraud affects us all through a series of reports and by demonstrating how OS’s mapping and addressing data can help organisations in the fight against fraud.

In 2014, 41% of all fraud (almost 114,000 cases) recorded by organisations through Cifas’ National Fraud Database were identity frauds. These are frauds where a fraudster has used the identity details of an individual to obtain a product or service in their name. These frauds targeted a wide variety of products: from bank accounts to mobile phone contracts, loans to insurance.

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Credit and store card accounts, however, were by far the identity fraudsters’ favoured product in 2014: with over 49,000 confirmed cases in 2014 – up almost 18% from the previous year’s levels. Read More