Mis-sold Mortgage Claims > Mortgage News
Mortgage fraud has increased by 7pc in Q1
Wed, 10 Aug 2011
It has come to the forefront that out of every 10,000 applications, 34 were discovered to be fraudulent during the first quarter of 2011. This is the second busiest period for mortgage fraud ever recorded by Experian's Fraud Index .

Even so, the highest rate of fraud was back in the second quarter of 2010, when 35 out of every 10,000 applications were fraudulent.

This increase of fraudulent behaviour is 58% higher than in the last quarter of 2010 and as a result saw current account application fraud overtake mortgage and car finance fraud rates.

Experian commented that 20 in every 10,000 applications for financial products were found to be fraudulent during the first quarter of 2011, which is an increase of 24% from the last quarter of 2010.

Experian went on to comment that 12 in over 10,000 insurance applications and claims were found to be fraudulent during the first quarter of 2011.

Overall, the first quarter of 2011 has seen a rise in fraudulent behaviour an increase from last year.
add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page

Copy and Paste the following HTML into your page.