> This week brought an announcement from a banking association that “identity fraud” is soaring to new levels, with 89,000 cases reported in the first six months of 2017 and 56% of all fraud reported by its members now classed as “identity fraud”.
> So what is “identity fraud”? The announcement helpfully clarifies the concept:
> “The vast majority of identity fraud happens when a fraudster pretends to be an innocent individual to buy a product or take out a loan in their name.
> Now back when I worked in banking, if someone went to Barclays, pretended to be me, borrowed £10,000 and legged it, that was “impersonation”, and it was the bank’s money that had been stolen, not my identity. How did things change?
> This week brought an announcement from a banking association that “identity fraud” is soaring to new levels, with 89,000 cases reported in the first six months of 2017 and 56% of all fraud reported by its members now classed as “identity fraud”.
> So what is “identity fraud”? The announcement helpfully clarifies the concept:
> “The vast majority of identity fraud happens when a fraudster pretends to be an innocent individual to buy a product or take out a loan in their name.
> Now back when I worked in banking, if someone went to Barclays, pretended to be me, borrowed £10,000 and legged it, that was “impersonation”, and it was the bank’s money that had been stolen, not my identity. How did things change?
https://www.lightbluetouchpaper.org/2017/08/26/is-the-city-f...