Young, single renters continue to be the biggest target for identity thieves, with over one in six cases of third-party fraud involving this particular demographic.
Current account fraud has been driving rising financial services-related crime. Renters’ stolen details are also used the most for fraudulent credit card and loan applications with one in six fraudulent credit card applications and 17% of fraudulent loan applications involved the details of young renters.
However, affluent couples living in prestigious areas are the second most popular targets for identity thieves, accounting for 11% of all identity theft in 2014.
These couples are particularly targeted for card and loan fraud, falling victim to 13% of all fraudulent card applications and 14% of all fraudulent loan applications in 2014. In particular this group offers the potential for thieves to make higher value scams based on their large incomes.
Nick Mothershaw, UK&I director of identity and fraud at Experian said: “Shared hallways and easily accessible properties mean that rental tenants’ details are most at risk compared to other demographics. Also they are prolific users of mobile and online services meaning that fraudsters have even more avenues to try and steal people’s details.
“Wealthy couples also continue to find themselves as a target due to the large pay days on offer to identity thieves, but the good news is that financial institutions are constantly improving in the fight against fraud.
“The latest analysis reveals the effective work being done by lenders to detect and prevent fraud, but it also highlights the need for people to think about how they protect their personal information both on and off line.”
