This post was originally published on Finextra (Security)
Consumers and businesses are being warned to protect personal information amid a surge in identity theft during the Christmas period.
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New analysis from Experian reveals that fraud rates in the final three months of the year have risen by more than a fifth (21%) in the last three years. Amongst the hustle and bustle of the festive season in which British consumers are set to spend £28 billion, online criminals will be looking out for more ways to exploit people’s information to commit fraud and take out financial products like credit cards and loans in their name.
The study also reveals:
83% of all fraud committed in the run up to Christmas 2023 was identity fraud
Those most likely to fall victims in the Christmas period were younger people aged 25-39
Identity fraud cases rose by 12.5% in the first six months of the year, when compared to the same period in 2023
Paul Weathersby, chief product officer, identity & fraud, Experian UK&I, said: “Our figures reveal that the UK fraud epidemic is showing no signs of abating, impacting victims of all ages, especially during
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