The UK’s fraud prevention service is warning that crimes involving fraud continue to be a major problem despite tougher action. Police crackdowns have led to an 11 per cent fall in fraud in 2013 compared with the year before, according to the fraud prevention service Credit Industry Fraud Avoidance System. But there are still 600 frauds committed every day, half involving stolen identity. As one scam is tackled, heartless criminals quickly come up with nasty new ways to part you from your cash.

PARCEL DELIVERY
Hundreds of thousands of crimes involve the use of a victim’s identity to obtain a product or service. A flourishing form of identity fraud is the parcel delivery scam – where crooks use your details to order goods, claim they have been delivered in error and come to collect.

COURIER FRAUD
In this scam the victim receives a call at home from someone claiming to be from their bank who explains there is a problem with the account.To add an air of authenticity, they recommend the person hangs up and calls the number on the back of their debit or credit card. But the victim may not realise that the villain of this scam is still on the other end of the phone line.

BOILER-ROOM FRAUD
Criminals cold-call investors and use high-pressure tactics (hence the term boiler room) to sell overpriced shares, often in non-existent projects, promising fanciful returns.

Last week, the Financial Conduct Authority reissued a warning about Alliance Capital Securities, which has been targeting Britons.

PENSION LIBERATION
So-called experts offer to convert your pension into cash before the age of 55. But victims are not warned about the tax implications and high fees that will empty most of their pension pot.

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