More than 5.5 million adults in the UK fell victim to identity fraud in the last… – Press Release

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LONDON, March 8, 2022 /PRNewswire/ — Nearly one in 10 smartphone users in the UK (9%), as many as 5.7 million people*, have fallen victim to identity fraud in the last 12 months, according to research by GBG, the experts in digital identity.

GBG’s State of Digital Identity Report 2022 can reveal that young adults aged 18-to-24 were hardest hit with almost a fifth (18%) becoming victims of identity fraud compared to 9% of 45-to-54-year-olds, and just 3% of consumers aged 55 and over. 

The GBG research also uncovered high levels of anxiety, with a large majority of the Brits surveyed worrying that becoming a victim of fraud is inevitable. 93% of respondents (94% of 18 to 24-year-olds) felt concerned that they will fall victim to fraud in the future.  

According to the GBG report, among those British consumers personally impacted by identity fraud:

  • 44% had their bank account accessed and money taken 
  • 28% had their credit card/bank account stolen and used
  • 23% had their name used to open new credit card/bank account
  • 19% had a new utility account opened in their name
  • 5% had their mobile phone number stolen and cloned
  • 4% had a new loan taken out in their name.

The research, conducted by Censuswide on behalf of GBG, surveyed both consumers, that own a smartphone, and business leaders across Europe – UK, France, Germany and Spain. The report revealed that fraud is major concern across Europe – with 9% of consumers across the continent also being hit in the last 12 months.

Almost half (42%) of European businesses surveyed said they had experienced known or suspected attempted fraudulent activity in the past 12 months, with 33% saying it had increased compared to last year. Those experiencing a known or suspected fraud attempt said the average transactional value of a breach was £16,000. While a quarter (25%) claimed each fraud breach cost their business between £10,000 and £35,000.

Despite this, almost a third of businesses…

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