Insurance identity fraud in the UK has risen by 211% since 2017, marking the largest percentage increase across all sectors, according to new research from GBG, a global identity and fraud intelligence firm.
The analysis examined identity fraud cases across different sectors between 2017 and 2024, revealing significant shifts in criminal tactics and the industries at greatest risk.
Insurance fraud cases jumped from 4,215 in 2017 to 13,108 in 2024. The sector now accounts for 5.47% of all identity fraud cases, up from just 2.42% seven years ago.
The communications sector recorded the second-highest growth, with cases rising from 16,973 to 36,453, a 114.8% increase. This sector now represents 15.2% of all cases, moving from the fourth- to the third-highest category.
Despite rapid growth in other sectors, plastic card fraud remains the most prevalent, with 94,111 cases in 2024 compared with 58,788 in 2017, a 60.1% increase. It accounts for 39.25% of all identity fraud cases.
Online retail fraud increased by 58.4%, rising from 11,729 cases to 18,581, now representing 7.75% of all identity fraud cases.
Loan fraud fell by 22.16%, from 20,082 to 15,631 cases, dropping from third to fifth in the sector rankings. It now represents 6.52% of all cases, down from 11.51% in 2017.
Mortgage fraud cases declined by 33.3%, from 45 to 30 cases.
|
Sector |
Cases: 2017 |
Proportion: 2017 |
Cases: 2024 |
Proportion: 2024 |
Changes in cases |
Percentage change in cases |
|---|---|---|---|---|---|---|
|
Insurance |
4,215 |
2.42% |
13,108 |
5.47% |
8,893 |
210.98% |
|
Communications |
16,973 |
9.73% |
36,453 |
15.20% |
19,480 |
114.77% |
|
Asset finance |
970 |
0.56% |
1,560 |
0.65% |
590 |
60.82% |
|
Plastic card |
58,788 |
33.68% |
94,111 |
39.25% |
35,323 |
60.09% |
|
Online retail |
11,729 |
6.72% |
18,581 |
7.75% |
6,852 |
58.42% |
|
All-in-one |
45 |
0.03% |
59 |
0.02% |
14 |
31.11% |
|
Bank account |
51,544 |
29.53% |
57,944 |
24.17% |
6,400 |
12.42% |
|
Loan |
20,082 |
11.51% |
15,631 |
6.52% |
-4,451 |
-22.16% |
|
Mortgage |
45 |
0.03% |
30 |
0.01% |
-15 |
-33.33% |
Source: GBG
Between 2023 and 2024, the communications sector saw a 72.7% increase, while online retail fraud reversed its long-term upward trend, falling by 25.4%. Asset finance fraud dropped 80.1% in just one year.
“These statistics show that identity fraud in the UK has evolved dramatically over the past seven years, with fraudsters increasingly targeting sectors like insurance and communications,” said Gus Tomlinson, managing director at GBG.
“The insurance sector’s 211% increase in fraud cases is particularly alarming and suggests criminals are finding new ways to exploit vulnerabilities in this industry.”
Total identity fraud cases rose from 174,523 in 2017 to 239,758 in 2024, a 37.4% increase. Between 2023 and 2024, cases increased by 4.9%.
The research drew on Cifas Fraudscape reports, comparing identity fraud case counts by sector over multiple years.
