Adding age and gender to the fraud mix

• Around two out of three detected first party frauds (65%) are committed by under-40s.
• Around two out of three detected fraud victims (65%) are aged 40 or older.
• Men are more likely to commit fraud than women – by a ratio of more than two to one.

Age and gender analysis across first and third-party fraud have now been added into our analysis to help offer an even broader picture of the fraudsters and their victims. For an up-to-date comparative snapshot, please plug into our online dashboard by clicking here.

Findings show that elderly homeowners are increasingly being targeted by identity thieves. As current account fraud has risen, older individuals who own comfortable homes, or who may have an additional income to their state pensions have felt the brunt of fraudsters’ efforts.

Within the first six months of 2015, ID theft among this group climbed 1.8 per cent, compared to the same period the year before. Demographic profiling shows the Senior Security social segment now accounts for nearly one in 20 (4.6 per cent) detected third-party current account frauds in the UK – this compares to 2.8 per cent in 2014 and 1.9 per cent in 2013.

Our insight also highlights a clear gender imbalance with mature men now victims in two out of three detected ID thefts (63%) across all financial product applications.

It has emerged criminals creating bogus current account applications have favoured targeting men aged between 50 and 59 (up 3.4%) during the first six months of the year. This settled and comparatively well off age group now accounts for nearly one in five (17.6%) current account ID thefts attempted against men.

Unsurprisingly, older individuals in this category often have a good credit rating and have lived at the same address for a long time. Individuals need to be careful of websites and emails asking for personal information, such a as confirmation of their date of birth. This information is then used by criminals to apply for new financial products.

But it’s important that everyone, regardless of age, is encouraged to take steps to ensure their details remain their own, because fraudsters will easily find those who don’t.

Elsewhere, young renters are still the main targets for overall ID theft across all financial products, accounting for nearly a fifth (18.5%) of all fraud.