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UK Bank Accounts Target of Huge Sure of Fraud


Apparently financial criminals in the UK have managed to double down on their focus of fraudulently accessing consumer bank acccounts. Experian is reporting consumer bank accounts saw the rate of fraudulent activity nearly double from Q1 2015 to Q2 2015.

The key to these attacks is reported to be simple identity theft. Identity theft accounted for 69 percent of all fraud attacks on consumer bank accounts.

Nick Mothershaw, UK&I Director of Identity & Fraud at Experian, comments: “We’ve seen current accounts slowly become the main target for criminals over the past year, but this sudden surge in fraud is alarming and indicative of a widespread organised attack on financial service providers.

“The good news is that these figures relate to detected and prevented fraud so these large scale attacks are being blocked before the damage is done. However, it does reveal the fervour with which fraudsters are targeting current accounts and the dangers for both the individuals whose identities are stolen and the organisations trying to protect them.” – Source

Again, another good reason for consumers of any country to keep a vigilant eye on their bank account activity.

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