Fraud victims are encouraged to check their free legal credit report, with all three credit reference agencies, allowing them to review any information that does not belong to them – and immediately notify affected lenders of the fraudulent information. .
Fraud prevention firm Sift said payment fraud jumped 23% last year. The company’s Tonia Luykx said the rise in credit card fraud cases was “not surprising” because scammers pay close attention to consumer behavior and market trends.
She said: “As fraudsters become increasingly sophisticated in their tactics, attacks continue to grow in size and scope each quarter. With a number of high-profile data breaches in recent years, fraudsters have access to a wealth of personal information and are even selling that information on the dark and deep web.
“This makes it easier for criminals to make speculative credit applications using this stolen information and if the merchant hasn’t put 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 support for the cost of living.
He said: “To be on the safe side, remember never to click on any links or attachments in suspicious emails, or respond to unsolicited messages asking for personal or financial information. If you are pressured into act quickly, alarm bells should be ringing in your head as this is most likely a scam.
It comes as Lloyds has issued an urgent warning to customers following a 90% rise in so-called ‘advance’ fraud in which scammers pose as a legitimate business and demand money from the customer. advance for a loan.
The bank said the scammers posed as representatives of legitimate loan companies, even sending documents to back up their claims. He said cases “continue to rise sharply”.