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Festive fraud to cause seasonal debt problems?

Festive fraud to cause seasonal debt problems?

- Tuesday, 1 December 2009

The number of people who find themselves in financial difficulty this Christmas could increase as a result of fraudulent activity.

CIFAS, the UK's fraud prevention service, has warned that this year has seen a rise in the number of people falling victim to identity theft, and advised people to remain vigilant over the holidays.

The organisation revealed that in the first ten months of the year 68,000 cases of identity fraud were recorded, representing a 37 per cent increase on the same period in 2008.

Should such increases continue into the Christmas holidays, some people could be forced to seek debt advice as a result of the combined toll of fraud and the general expense of the period.

Richard Hurley, communications manager for CIFAS, said: "The festive season traditionally reminds us of the high street threats of thieves and pickpockets stealing our wallets.

"We must, however, protect ourselves equally from their latter-day counterparts who target our identities."

According to figures from Credit Action, total UK personal debt at the end of October stood at £1,458 billion.
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