Cifas reveals rise in identity theft

Identity fraud now accounts for nearly half of all fraud committed in the UK, according to fraud prevention service Cifas.

Findings from the organisation's 2010 annual Fraudscape report also show that more cases of identity theft were recorded as being successful: almost two thirds in 2010 compared with 56 per cent in 2009.

Although more identity theft centres around online shopping, with fewer bank accounts being hijacked, Cifas warned that over half of these accounts were used for money laundering.

Cifas said, however, that the rise in online shopping fraud can largely be attributed the "different security checks or processes".