Identity fraud crisis spirals out of control

Monday, 13 September 2004, 12:09 PM EST

The UK has the highest level of fraud in Europe, and the nation's fastest-growing problem is identity fraud.

That was the claim made by APACS, the umbrella body for the UK banking industry, at a PKF event in London last week.

According to the organisation, identity fraud, whether company or individual, grew by 45 per cent in 2003, and card not present (CNP) fraud grew by six per cent. However, the number of crimes committed using counterfeit credit cards actually fell by 28 per cent over the year.

By Sara Yirrell at vnunet.

[ Read more ]

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