Fraud is on the increase
Frauds identified were up overall by 25% in 2002, with false identity fraud up 54% and impersonation fraud up 25%. The combined total number of false identity/impersonation cases stood at 74,000 in the year, compared to 53,000 in 2001. This remains the most rapidly growing fraud type in the UK.
CIFAS Members have reported that they prevented fraud with a value of £360 million in 2002, up 40% on the £255 million 2001 figure. This is a major achievement that demonstrates how fraud prevention measures are having an impact and are helping to protect both companies and consumers from the costs of fraud.
Insurance claims fraud shows the largest growth as insurance companies started to join CIFAS in 2001. This is likely to be a growth area for CIFAS as more insurers are becoming members. There are now nine insurers in membership. The first insurer to use CIFAS on its motor, household and other business, was Direct Line.