Josh Gunnell comments on the latest ONS fraud statistics

Josh GunnellCommenting on today’s Office for National Statistics (ONS) crime in England and Wales statistical bulletin, Josh Gunnell, fraud specialist, Callcredit Information Group, said:

“The latest ONS statistics clearly indicate that fraud remains a threat to every organisation in the country. With 3.2million incidents of fraud in England and Wales and over half of these (1.8 million) being cyber related, the worrying trend shows no signs of abating.

“This is especially pertinent considering the damaging impact the ongoing fraud threat has had on trust in organisations, with a majority of consumers we spoke to believing that fraudsters are always one step ahead of businesses.

“To win back consumer confidence, which is key to long-term success, businesses need to do everything they can to keep data and identities safe. Implementing smarter, more dynamic fraud prevention strategies, such as artificial intelligence, alongside traditional fraud prevention methods – and communicating these to their customers - can go a long way towards achieving this. In addition, the importance of using behavioural and location data to provide fraud insights cannot be overstated.”