{"id":611,"date":"2022-02-14T14:06:24","date_gmt":"2022-02-14T14:06:24","guid":{"rendered":"https:\/\/sta.valkyrie.co.uk\/?p=611"},"modified":"2022-07-18T14:06:34","modified_gmt":"2022-07-18T13:06:34","slug":"identity-theft","status":"publish","type":"post","link":"https:\/\/sta.valkyrie.co.uk\/identity-theft\/","title":{"rendered":"Identity Theft"},"content":{"rendered":"

Identity fraud and theft:<\/strong><\/p>\n

Identity fraud, or \u2018ID theft\u2019, involves the use of a person\u2019s stolen details to commit crime. Many victims never find out exactly how someone got hold of their details and clearing things up afterwards can be costly and stressful. Criminals are experts at impersonating people, organisations and the police \u2013 they spend hours researching you for their scams, hoping you\u2019ll drop your guard.<\/p>\n

\u2026..In the past year alone (2021), \u00a32.6billion was lost to online fraud and experts say the problem has worsened during the pandemic, with more people complaining to the Financial Ombudsman Service. Statistics show 38% of online shopping crimes are the result of stolen identity. And with internet sales making up 34.5% of total retail sales in 2021, there is no shortage of opportunity. As social media use increases across the UK, so do chances of falling prey to an identity thief. After all, it\u2019s estimated that over 85% of all ID thefts are carried out online. Stolen personal information and page log-ins are sold on the dark web every day. There\u2019s even a price list for this kind of ID fraud. You can buy a new identity for as little as \u00a310. In 2020-21 there were over 51,000 reported cases of Identity theft in the UK \u2013 the second highest number of cases after purchase fraud.<\/em><\/p>\n

Top 10 tactics deployed by fraudsters: Figures from banking industry body, UK Finance<\/strong><\/p>\n

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  1. COPYCAT (Impersonation) CONS – 32,196 cases in 2020-21 – \u00a398.4 MILLION LOST<\/li>\n
  2. BANK IMPERSONATION – 40,283 cases in 2020-21 – \u00a3181 MILLION LOST<\/li>\n
  3. INVESTMENT SCAMS – 15,822 cases in 2020-21 – \u00a3242.8 MILLION LOST<\/li>\n
  4. IDENTITY THEFT – 51,389 reports in 2020-21 – \u00a341.2 MILLION LOST<\/li>\n
  5. ROMANCE CONS – 4,608 cases in 2020-21 – \u00a336.3 MILLION LOST<\/li>\n
  6. INVOICE FRAUD – 7,121 cases in 2020-21 – \u00a3124.1 MILLION LOST<\/li>\n
  7. PURCHASE CONS – 131,068 cases in 2020-21 – \u00a394.8 MILLION LOST<\/li>\n
  8. ADVANCE FEE FRAUD (pay up front) – 23,968 cases in 2020-21 – \u00a339.9 MILLION LOST<\/li>\n
  9. HOLIDAY SCAMS – no data available<\/li>\n
  10. CEO fraud (cybercriminal spoofs company email accounts and impersonates executives to convince an employee to send money to them)- 1,044 cases in 2020-21 – \u00a316.9 MILLION LOST<\/li>\n<\/ol>\n

    Fraud has become endemic in Britain. We face daily texts and scam calls, and the internet is littered with fake websites and advert cons \u2013 SO, It\u2019s as important as ever that you understand how fraudsters can get their hands on your information so you can take steps to protect yourself.<\/p>\n

    Your property:\u00a0<\/strong><\/p>\n

    Property fraud is when a person pretends to be you and uses your stolen identity details to mortgage or even sell your land, house or business premises. Properties most at risk are those that are rented out, empty or mortgage-free. This kind of fraud is rare, but if you\u2019re a property owner it\u2019s worth taking the simple steps below to make sure it doesn\u2019t happen to you. Undoing the damage after you\u2019ve been a victim can be time-consuming, costly and stressful. You should:<\/p>\n