Cifas Latest Fraud Intelligence Report for 2024

The report presents fraud risk data collected by Cifas with intelligence provided by members, partners, and law enforcement.

Key findings include:

• Cases of identity fraud the most commonly reported;
• 214,882 fraud cases were filed to the Cifas National Fraud Database (NFD) between January and June 2024, an increase of 15% from the same period in 2023;
• 325 instances of internal fraud were reported; and
• Firms have reported the ongoing social engineering of vulnerable consumers struggling with the cost-of-living crisis to allow access to their accounts and authorise the payment of funds into fake investment schemes.

Firms can review the latest Cifas findings as part of remaining up-to-date with the latest UK fraud risks and how to combat them.

Learn more about Plenitude’s Fraud Practice and how we are helping clients combat fraud whilst reducing losses and operational costs.

https://www.plenitudeconsulting.com/services/fraud-practice