Data leaves businesses open to digital fraud study warns

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The group reported a 30% increase in fraud compared with the first quarter of 2011, which it attributed to a 40% increase in identity fraud and an 86% jump in the takeover of accounts.

Misuse of accounts by the genuine account holder increased by 13% between Q1 2011 and Q1 2012, making it the second most commonly committed type of fraud.

Richard Hurley, communications manager at CIFAs, commented: “Whether the motivation is criminal or simply desperation, these figures demonstrate a dangerous

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