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Identity Fraud on the Rise in UK

Social Media accounts in the UK are having more identity theft than usual.

Fraud prevention service Cifas has suggested that the number of victims of identity theft rose 57%  last year. Ciphers claimed that Facebook, Twitter, and LinkedIn had become ground for identity thieves.

While some of the personal details uncovered were found by hacking computers, fraudsters turned to social media to gather pieces of someone’s identity.

The annual cost of fraud in the UK was estimated at ‘£193bn according to a ‎UK fraud study.  The largest fraud committed was identity fraud, which was estimated at ‘£15.4bn a year with about 3.25 million victims.

Reports have even claimed that the true scale of fraud in the UK is still not known, and that the fraud estimates are being under-evaluated .

Cifas chief executive, Simon Dukes, points out, “Fraudsters are opportunists.  As banks and lenders have become more adept at detecting false identities, fraudsters have focused on stealing and using genuine people’s details instead.”

Ciphers urged people to think carefully about what information they share online. Victims often didn’t realize they had been hacked until they received a bill for something they didn’t purchase or problems with their credit rating.

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