Consumers 'should take steps to guard against fraud'

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Consumers 'should take steps to guard against fraud'

Fri 8th Jan 2010

The rate of fraud could get worse if the economic situation does not improve, according to a financial expert.

Neil Munroe, external affairs director at Equifax, said that there is currently some debate over whether the level of fraud in the UK will get worse during 2010 due to the ongoing financial crisis.

However, he believes that fraud will continue to be a major concern through this year if the global financial system does not start to improve.

In order to prevent themselves becoming the victim of fraudsters, consumers need to be aware of the methods used to entice them into handing over their details, such as the offer of services which appear too good to be true.

"Prevention is the key thing," Mr Munroe asserted.

The comments follow the news published by PricewaterhouseCoopers that accounting fraud is one of the fastest growing forms of economic crimes reported by organisations around the world.

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