Lies on credit card applications increases

31/10/2008
 
New data has revealed that the number of people who have lied on credit card applications has risen this year. According to research from members of Cifas which is the UKs fraud prevention service, compared to the same time period last year the number of credit card applications which were not totally truthful had risen by four per-cent in the first nine months of this year.
 
In addition to this, the total number of claims which were found to have fraudulent information after the application had been made increased by nineteen per-cent. The most common piece of information that people were dishonest about was where the person’s credit history was impaired, failure to disclose past address.
 
“These trends underline the continuing changes in the fraudsters’ methodology” said chief executive Peter Hurst. He also commented that with the recent downturn in the UK economy, these were “desperate measures” for consumers.