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CIFAS and Fraud … It’s all going on PowerPoint Presentation
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CIFAS and Fraud … It’s all going on

CIFAS and Fraud … It’s all going on

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CIFAS and Fraud … It’s all going on

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  1. CIFAS and Fraud … It’s all going on Barry Brennan Fraud and Underwriting Manager Lloyds Banking Group AAT Birmingham Branch-February 2012

  2. Tonight’s Presentation • The fraud climate • How CIFAS fights fraud • Fraud types and trends • Combating staff fraud • Future challenges

  3. The scale of the problem Some facts and figures: • British Crime Survey 2010-2011 • 2,051,048 burglary/thefts • 145,841 fraud/forgery offences • 603 data breaches reported to the ICO in 2010 • 388 + by the public sector • 192 + by the private sector • 23 by others (e.g. charities) The NFA estimates the cost of fraud to the UK economy to be: Over £38 billion per year! (2011)

  4. That means? £765 per year for every man, woman and child in the UK

  5. Other bodies fighting fraud There are many other bodies whose work is fundamental to the fight against fraud in the UK, e.g. • The police • NFA:National Fraud Authority • NFIB:National Fraud Intelligence Bureau • Action Fraud:National Fraud Reporting Centre • (and latest scam details) • FSA:Financial Services Authority • Credit Reference Agencies:e.g. Callcredit, Equifax, Experian • Private Sector Associations:e.g. UK Payments, ABI, IFB, IFIG

  6. How CIFAS fights fraud • The CIFAS National Fraud Database • Formed by 8 retailers in 1988 • Police advice: “treat fraud as NON-COMPETITIVE”

  7. How CIFAS fights fraud • A UK wide membership association • A “not-for-profit” association funded by its Members • All Members share information on confirmed frauds

  8. CIFAS Membership 260+ Members: Banks/Building societies Mortgage lenders Credit cards Retail credit (store cards) Mobile phones Asset finance (vehicles) Insurance Mail order Share dealing Public sector (5 so far) SLC, UKBA, LSC,FSA, Big Lottery Fund Participating Agencies: Fraud prevention agencies: Callcredit, Equifax, Experian, EDA and Synectics Affiliate Members Companies who are not able to join CIFAS, but work closely with CIFAS and its Members

  9. Benefits reported by Members Over £4.1 billion worth of fraud was prevented through use of CIFAS over last 5 years

  10. What is ID Fraud Identity Fraud can include: Identity Theft: Stealing an identity without victim’s knowledge or consent, eg name, DOB, address. Use of a fictitious identity. These details are then used to obtain goods or services and/or as part of more serious, organised crime Companies can also be victims of identity fraud

  11. Where does threat come from? Information hacked or “gone missing”/stolen/lost in transit/disclosed in error  unencrypted laptops, computer discs, memory sticks paper records Internal Fraud Resentful or recession hit employees Organised Fraud Threat or bribery of existing employees Infiltration of organisations

  12. Where does threat come from? Direct attacks on individuals Theft/burglary/mugging Phishing - email attacks Smishing – text attacks Vishing – VoIP attacks Internet/online banking attacks Compromised cash points Family Members

  13. Celebrity Victims of Identity Fraud Oprah Winfrey Robert de Niro Tiger Woods Will Smith Steven Spielberg Jennifer Lopez Jeremy Clarkson Alistair McGowan

  14. Tips to protect your own identity! Shred all documents before discarding Examine all bank/credit card statements Regularly check your credit file Redirect post when moving and monitor receipt of post Treat your personal data as ‘confidential’ Limit info on social networking sites

  15. If you’ve been a victim Don’t Panic! Check your credit file Check your bank and card statements – contact your bank to inform them of any fraud on your account Take out Protective Registration - places warning on credit file to alert organisations to threat of your identity being used fraudulently Contact the credit reference agencies ‘one stop shop’ Report to

  16. Protecting your business’ identity Protect your corporate ID as you would your own! Register for PROOF with Companies House (PROtected Online Filing) scheme Provide a service address to Companies House Check your customers/suppliers Companies House, ID checks, Corporate Credit Agencies etc

  17. Advice on ID Fraud Advice for consumers Advice for businesses Other sites:

  18. Why? But what makes people turn to fraud?

  19. Recent trends in fraud generally Recession has side effects • Desperate people turn to fraud to make ends meet • 25% increase in fraud over past 5 years • Credit crunch means fraudsters turn away from application fraud to, say, identity fraud • Growth in fraudsters persuading innocent individuals to let them use their bank account (fraudulently) for a small fee – (mules) leaving the mule without funds and in trouble • Significant increase in mail order fraud • More people selling vehicles still owned by finance company • Rise in those claiming falsely to be ID fraud victims – or ID frauds committed by close family …

  20. And in 2011 - 12 The two most anticipated frauds are: • Olympic ticketing frauds • Olympic accommodation frauds Fraudsters always looking for the latest opportunity

  21. If you think it might be a fraud Check:

  22. What next? CIFAS and fraud prevention in the UK still have many challenges to face: • Technology as a fraud enabler • Recession and unemployment as fraud drivers • Changing behaviour of fraudsters

  23. Thank you Thank you