SME Business News

Experian have delivered a report into the ever growing crime of Identity Fraud in the UK, saying that more than 6,000 sought help from their victims of fraud team in 2007 , an increase from 3,500 in 2006.

It reports that London is the UK’s ID Fraud capital, where residents are twice as likely to become victims compared to the rest of the UK.

SME owners and entrepreneurs earning in excess of £50,000 per annum are the biggest single target for the fraudsters according to the report. They are three times more likely to fall victim to the practise, while corporate directors, and directors of larger enterprises are just behind at two and a half times the average.

Helen Lord, Director of Fraud and Compliance at Experian, comments: “The dramatic increases in identity fraud we have witnessed over the last few years have coincided with the increasing involvement of organised criminals in this space. The rate of identity fraud growth is worrying. Although some people are statistically more likely than others to become a victim, we should all be concerned. We are all potential victims.”