LATEST INDUSTRY STATISTICS: First party fraud on the rise

The latest Fraudscape report from CIFAS demonstrates the significance now being placed on the issue of first party fraud. With CIFAS members recording more general fraud cases than ever before with a 9% increase, first party fraud, in the form of account mis-use, sees an even sharper rise of 13%. Characterised by consumers evading payments or knowingly making payments that will be declined, the issue is being felt in the banking, insurance, telecoms and mail order sectors. Read the full report here: CIFAS Fraudscape March 2012