Victims of fraud are urged to check their free statutory credit report, with all three credit reference agencies, allowing them to review any information that does not belong to them – and immediately inform relevant lenders of fraudulent information.
Fraud prevention company Sift said payment fraud jumped 23pc last year. The company’s Tonia Luykx said the increase in credit card fraud cases was “unsurprising” as scammers pay close attention to consumer behaviour and market trends.
She said: “As fraudsters become increasingly sophisticated in their tactics, attacks continue to grow in size and scope every quarter. With a number of high-profile data leaks in recent years, fraudsters have access to a wealth of personal information and are even selling this information on both the dark and deep web.
“This makes it easier for criminals to make speculative applications for credit using these stolen details and if the merchant doesn’t have the necessary checks in place, these applications could be successful.”
Baz Thompson, of Metro Bank, said reports of scams had become more frequent after the Government announced its support for the cost of living.
He said: “To be safe, remember to never click on the links or attachments in suspicious emails, or respond to unsolicited messages asking for personal or financial details. If you are being pressured to act quickly, an alarm bell should be sounding in your head, as this is very likely to be a scam.”
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