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Women increasingly the victims of identity fraud

The BBC reports today that a growing number of women are victims of identity fraud as criminals use the internet to steal funds. Research undertaken by Cifas, the UK fraud prevention service, has found that fraudsters are increasingly using less targeted approaches such as phishing emails, software that tracks people’s internet use, the theft of personal data, and using a victim’s address on loan applications or mail order.

The total number of frauds recorded by Cifas in 2009 rose to 235,452. Criminals either intercept mail that comes back from loan providers, or more worryingly, the crime is carried out by friends or family of the victim. Other cases include ‘piggybacking’ where fraudsters add their mobile phone or car to another person’s account or insurance policy.

Whilst the recession has been partly to blame for the rise in fraud, it has also prompted a tighter lending criteria meaning that more loan applications have been turned down.  

Pound falls amid concerns of a hung parliament

The pound has fallen 1.6% to a 10-month low as fears grow that the UK will have a hung parliament in the upcoming general election. The pound fell 7% against the dollar this year, and it also fell against the euro and most other major currencies. A hung parliament, where no party has a majority, would make it harder to pass legislation and could harm economic recovery. A YouGov poll published in the Sunday Times shows that the Conservative lead over Labour has narrowed to just 2 points, down from 6 last week and the lowest in two years. The Prime Minister Gordon Brown has to call a general election by June.

 

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