Over a third (36%) of consumers believe they are at risk of identity fraud, according to a survey by credit reference agency Equifax.
Similarly, 35% of 928 survey respondents said they were worried about online fraud, with 29% citing credit card fraud as their top concern.
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In the car finance market, HPI has warned of a rise in ‘virtual car seller’ scams while Equifax advised companies in June to continue to monitor front-end verification and authentication.
Perhaps reflecting this rise, 58% of respondents thought their risk of fraud had risen in the past 12 months, while 77% said fraudsters were getting more sophisticated.
Peter Harrison, product leader for fraud and ID at Equifax, said: "We believe this highlights why consumer-facing businesses need to apply the best possible checks to reduce the risk of fraud. This will not only protect their own operations from the financial impact of fraud, but give their customers more confidence that their concerns about fraud are being taken seriously."
