RiskUKApril2017

Editorial Comment
Don’t just stop at the front door
The Micro Contact-W can be used to protect almost
anything, including doors, windows, drawers and
cupboards - the list is endless!
Internal door
Patio door
Window frame
Bedside drawer
An Eye on ID
Cifas, the UK’s leading fraud prevention service, has issued
new figures showing that identity fraud has hit the highest
levels ever recorded. A record 172,919 episodes of such
fraud were noted in 2016. Identity fraud now represents over half
of all fraud chronicled by the UK’s not-for-profit fraud data
sharing organisation, of which 88% was perpetrated online.
In recent years, Cifas has been informed of growing numbers
of young people falling victim to ID fraud. That upward trend
continued last year with almost 25,000 victims aged under 30. In
particular, there has been a 34% increase in the number of under
21s subjected to ID fraud. On that basis, Cifas is again calling for
better education around fraud and financial crime and urging
youngsters to be vigilant about protecting their personal data.
2016 also saw a rise in the number of ID fraud victims aged
over 40, with 1,869 more victims recorded by Cifas members.
Mike Haley, deputy CEO at Cifas, explained: “These new
figures show that identity fraud continues to be the foremost
fraud threat. With nine out of ten identity frauds committed
online and all age groups presently at risk, we’re urging everyone
to make it more difficult for the fraudsters to abuse individual
identities. There are three simple steps that anyone can take to
protect themselves: use strong passwords, download software
updates when prompted to do so and avoid the use of public Wi-
Fi for banking and online shopping.”
Haley continued: “We all remember to safeguard our valued
possessions through locking our house or car, but we don’t
always take the same care to protect our most important asset –
our identities. We all need to assume responsibility for securing
our mail boxes, shredding documents like bank statements and
utility bills and taking sensible precautions online. If not, we’re
simply making ourselves a target for the identity fraudsters.”
Commander Chris Greany, national co-ordinator for economic
crime, commented: “These latest Cifas figures demonstrate how
we all need to be alert to preventing identity theft now more
than ever before. We do everything we can in order to stop the
identity thieves in the fight against fraud, but it must be said
that the key to success is both prevention and protection.”
With instances of identity fraud set to rise, businesses and
consumers alike simply must take action to address this
damaging issue. Financial services companies should strengthen
the security systems they have in place and the way in which
they verify identities, and especially so for online transactions.
Businesses need to invest in biometric processes designed to
validate identities, at the same time implementing multi-layer
approaches that challenge fraudsters’ attempts to compromise
systems. “Myriad consumers are embracing biometrics in their
everyday lives, for example by using them to access their smart
phones,” observed John Marsden, head of identity and fraud at
Equifax. “Financial services companies can maximise such
technology to protect their customers and their businesses.”
Certainly, the worrying knowledge gap exhibited by too many
consumers when determining safe places in which to share their
personal information must be plugged sooner rather than later.
Brian Sims BA (Hons) Hon FSyI
Editor
www.texe.com
Sales: +44 (0)1706 220460
December 2012
5
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