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Identity fraud attempts expected to peak during Christmas shopping season

todayNovember 25, 2022 2

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Identity fraud attempts expected to peak during Christmas shopping season

The number of identity fraud attempts being detected – and thwarted – increased by more than a fifth (21%) over the past year, compared with the previous 12 months, according to a credit information company.

Experian, which released the figures, warned that fraudulent applications such as these are expected to spike over Christmas, as fraudsters try to take advantage of the increase in online transactions.

The figures were taken from a national fraud prevention service and analysed by Experian.

Eduardo Castro, managing director, identity and fraud at Experian said: “Fraud is a serious, ongoing problem for both consumers and businesses in the UK.

“Over 2022, there has been no let-up and it’s likely, as our figures show, the trend will only become more pronounced over the coming months.”

Experian, which has launched a new awareness campaign around fraud risks, said its identity and fraud technology prevented more than £1.8 billion-worth of fraudulent transactions in 2021.

Mr Castro added: “There are several simple things people can do to keep their information secure.

“Making sure they don’t overshare personal details on social media or enabling multi-factor authentication, such as biometrics, for their online accounts can go a long way to preventing ID fraud.

“Always be suspicious of unsolicited calls, emails, and texts. If in doubt, contact the company directly – it only takes a minute to offer up the personal information which the fraudster can then use to access your accounts or apply for credit in your name.”

Published: by Radio NewsHub

Written by: Holiday Radio News Team

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