Young renters on low to middle incomes are the demographic most likely to fall victim to identity fraud, according to new analysis from Experian.
The firm’s Mosaic analysis reveals single people in their 20s and 30s, living in rented accommodation, are the group most likely to become a victim of identity theft and almost twice as likely to be targeted than the national average.
Of all criminal cases of identity theft uncovered between August 2013 and August 2014, 19% of victims fell into this category.
Nick Mothershaw, UK&I director of identity and fraud at Experian, said: “Previously fraudsters focused on wealthy individuals who offered the richest pickings, but now young renters have also become prime candidates for identity theft. A key reason for this is that rented accommodation is often more easily accessible, and more likely to have shared hallways where it is easier to intercept post. In addition, there are a growing number of young renters as high property prices, especially in urban areas such as London, have meant that young people cannot afford to buy property. Also this group are prolific users of online services which means the opportunity for identity thieves to gain their personal information will only increase.”
Meanwhile, affluent couples living in prestigious areas are also seeing their fair share of fraud, according to Experian’s latest fraud figures. Wealthy couples are the second most popular targets for identity thieves, accounting for 11% of all identity theft recorded during 2014. These couples are particularly targeted for card and loan fraud, falling victim to 14% of all fraudulent card applications and 17% of all fraudulent loan applications made during 2014.
Mothershaw said: “Affluent couples are perhaps the most obvious target for identity thieves, who are enticed by the high pay-outs and credit limits this group have access to, with many fraudsters typically targeting wealthy couples to make bogus credit card and loan applications.”
Experian has also identified the locations which are considered prime targets for fraudsters, and warns people in those areas to remain vigilant.
Regional analysis reveals that affluent areas in Greater London, such as Caversham, Beaconsfield, Hertford, Harlow, Brentwood, Maidstone, Crawley, Cobham, Leatherhead, Effingham and Ascot prove to be prime locations for identity theft in 2014.
In the meantime, first party fraudsters are mostly concentrated in London, with analysis suggesting perpetrators are more likely to emerge from areas including Ilford, Croydon, Brixton, Bromley, Wembley, Edgeware, Hounslow and Romford. Areas outside of London, such as Luton, Slough and Dorchester, as well as rural areas in the North of England and the Highlands, also have some of the highest concentration of first party fraudsters.