14% Rise in UK Fraud Rates
Fraud cases climbed by 14% in the UK in the first half of 2008 compared with the same period last year, according to fraud prevention service Cifas.
It said there were 104,548 confirmed frauds filed to its database from January to July, with London and the south-east of England being the most affected areas.
Bank accounts and credit cards remain the main targets for fraudsters, followed by loans and phone deals.
East Ham in London topped the list of areas with the most prevalent cases.
The group said that con-artists thought they could work more anonymously in cities owing to the population density.
“London is a city of stark contrast where extraordinarily wealthy and socially disadvantaged people often live in close proximity,” said Cifas research manager Sandra Peaston.
“This can both provoke and help to facilitate fraudulent behaviour.”
Asset finance, such as car purchases; communications, such as mobile phone contracts; and insurance fraud were all active in Lanarkshire and Coventry as well as London and the South East, according to Cifas.
The most commonly appearing postal districts when looking at all types of fraud were East Ham, Croydon, Peckham, Plumstead, Walthamstow, Barking, Willesden, Thamesmead, Forest Gate and Tottenham.
Kate Beddington-Brown, of Cifas, said that those engaged in mortgage fraud had gravitated to London owing to its high property prices.
“Add to this the growing financial hardship caused by the credit crunch and you have a dangerous and potent mix,” she added.
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