New research highlighted by IFA Magazine finds plastic card fraud now accounts for over a third (36.29%) of all identity fraud cases in the UK, with cases increasing by almost 50% since 2017. Bank account fraud remains the second most common form of identity theft, while communications and online retail fraud continue to rise significantly.

What stands out is the fraudster does not always need access to your bank account. A combination of personal information such as your name, address, date of birth, phone number, or insurance details can be enough to impersonate you and facilitate wider fraud.

For organisations, this reinforces the importance of:

✅ Strong identity verification controls

✅ Employee awareness training on phishing and social engineering

✅ Regular monitoring of unusual account activity

✅ Robust data protection practices to limit exposure of personal information

For individuals, a simple but effective control remains regularly checking bank statements, credit reports and account notifications. As many fraud professionals know, early detection can significantly reduce the impact of fraud.

As fraud continues to evolve, prevention is increasingly about vigilance, good data hygiene and a healthy degree of scepticism when asked to share personal information.

https://ifamagazine.com/card-fraud-tops-uk-identity-theft-ranking-as-expert-warns-britons-to-check-their-statements/