Identity fraud registers 57 percent growth, as fraudsters target social media

Figures from fraud prevention service Cifas suggest fraudsters are increasingly getting peoples personal information from social media sites. Facebook, Twitter and LinkedIn had become a hunting ground for identity thieves.

The report states there were more than 148,000 victims in the UK in 2015 compared with 94,500 in 2014. A small percentage of cases involved fictitious identities but most fraudsters assumed the identity of a real person after accessing their name, date of birth, address and bank details. More than 85% of the frauds were carried out online.

Some personal details were found by hacking computers but increasingly fraudsters used social media to put together the pieces of someones identity, Cifas said.

It urged people to check their privacy settings and think carefully about what information they share online.
Often victims did not even realise they had been targeted until a bill arrived for something they did not buy or they experienced problems with their credit rating, the fraud prevention service added.

A report out earlier this year estimated the annual cost of fraud in the UK was GBP 193 billion, equal to nearly GBP 3,000 per head of population. Business fraud accounted for GBP 144 billion, the study said, while fraud against individuals was estimated at GBP 9.7 billion.