45% of all fraud is data-driven

Identity fraud that uses victim data to access accounts or open new ones makes up nearly half of all existing fraud, according to the fraud prevention service Cifas.

Over 100,000 people have been the victims of data-driven fraud each year since 2010 and 90,000 have already been identified so far this year. Cifas says that these figures highlight the seriousness of the threat facing consumers, businesses and financial institutions.