10th February 2016 Church News.
UK current account fraud surged last year as it remained the most targeted financial product. Experian research shows that the fraud rate in current account applications was up from 73 in every 10,000 applications in January to 156 in every 10,000 in December. And this was also a factor in tipping the overall balance between first party and identity fraud. At the start of 2015, 51 per cent of detected and prevented fraudulent applications across all financial products were attributed to first party whilst 49 per cent were a result of third party. By the end of the year, 59 per cent of fraud was accountable to identity thieves.
