Identity fraudsters are increasingly applying for loans and credit cards, with instances of insurance and first party fraud also rising, says Experian
he number of attempts by fraudsters to take out loans using stolen identities rose sharply last year, according to a report by Experian.

Seven in every 10,000 loan applications were found to be fraudulent, up from five in 2009. Insurance fraud on the whole has risen by 11% and experts fear this figure could rise further as people struggle in the aftermath of the recession.

Young single people living in rented and shared accommodation, and wealthier people in fashionable inner London suburbs, were found to be those most targeted by ID fraudsters.

First party fraud, when a person knowingly supplies false details, is rising and now accounts for slightly more than half of fraud attempts against credit card companies, insurers and banks. The biggest culprits are thought to be single people on limited incomes living in rented accommodation, as well as young professionals with.....Read more HERE


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