You are here: Home - Credit Cards & Loans -

London and South-East the top fraud hotspots

0
Written by:
14/07/2008

Research by CIFAS has revealed that London and the South-East are the key hotspots for fraudulent applications across all product sectors.

The numbers of confirmed frauds recorded by the fraud prevention service for asset finance demonstrate that the concentration is strongly focused within the catchment area of the M25.

The most commonly appearing postal districts, when looking at frauds across all these product types are East Ham, Croydon, Peckham and Plumstead. Other areas in the top 20 include Walthamstow, Barking and Willesden.

CIFAS research manager Sandra Peaston said: “Although it is not unexpected that fraud should be at its most prevalent in cities, it is remarkable that almost all fraudulent activity is concentrated in and around London.

“Many elements conspire to make this the hub of activity for fraudsters, not least because they may feel that the population density affords anonymity. Years ago, that might have been true, but fraud data sharing has put an end to that. It is also true to say that London is a city of stark contrast where extraordinarily wealthy and socially disadvantaged people often live in close proximity. This can both provoke and help to facilitate fraudulent behaviour.”

Bank accounts and credit cards remain the fraudsters’ products of choice, but it is also noticeable that in the top five postal districts for fraud, only three types of product (asset finance, communications and insurance) failed to include all five within their top 10 hotspots.

Tagged:

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

YourMoney.com Awards 2018

Now in their 21st year, our awards recognise the companies offering the best products and services to consumers

Money Tips of the Week

Read previous post:
Brits taking measures to fight inflation

Research from Abbey Mortgages has revealed that 86% of Brits are taking some form of measure to combat rising inflation.

Close