Businesses warned to protect data as fraud rockets

More than 236,500 frauds were identified by Cifas, the UK fraud prevention service, in 2011, an increase of 9% on the previous year and the highest number of frauds ever identified by the organisation's members. Identity fraud accounted for 113,000 of last year's incidents, up 10% from 2010's levels. Facility takeover fraud, where the perpetrator uses a victim's credit card, bank account or mobile phone, has increased by 300% in the last five years, Cifas said. "All organisations must recognise this threat, and review how they try to prevent such frauds," said CIFAS communications ...