UK: 84% of all cases of identity fraud take place online

Friday 9 May 2014 07:31 CET | News

The internet is currently the leading channel when it comes to economic crimes, with 84% of all cases of identity fraud taking place online, recent findings indicate.

According to data from the National Crime Agency (NCA), cybercrime costs the UK several GBP billion every year. The NCA identifies cyber-enabled economic crime as ‘particularly dynamic area’ as criminals respond to new technology and initiatives by industry and law enforcement, such as improved two-factor authentication methods.

The same source points out that the public sector will be increasingly open to attacks and fraud as more government services go online. Results show that the cost of organised criminal attacks on HM Revenue & Customs tax regimes was GBP 4.7 billion in 2011/12 alone.

The NCA also forecasts that virtually all types of cybercrime will increase, including targeted attacks on UK networked systems and disruption of access to UK networked systems and services. Furthermore, cyber-dependent criminality (crime relies on the use of ICT) will grow and the support services critical to cyber-dependent crime will increasingly be used by other crime actors.

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Keywords: identity fraud, online fraud, cybercrime, UK
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime

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