Tricksters mushrooming up

Economic recession is increasing the number of scam cases as it is claimed by Cifas, fraud prevention service.

The first quarter of the current year has seen a total of 52,286 fraud cases, the number shows 10 percent raise against the last report.

High debts people get involved in and credit restrictions drive people to hide disadvantageous credit data and apply for new funds via defraudation. "The increase in application fraud (often to hide adverse credit history) demonstrates that because people are getting into debt earlier, and because the 'credit crunch' has diminished their access to finance, they are now resorting to fraudulent applications for funds" says chief executive of Cifas Peter Hurst.

Besides violators are excelling in their twists. According to the reports 'facility takeovers' increased 146 percent. Fraudsters present themselves under the names of account holders and take over their funds.

Furthermore cheaters go on using pitfall email distribution and websites to have victims to disclose credit card or bank account numbers and password. Public should be very cautious with dubious email messages and Internet sites.