Online ID fraud is an "easy and economical" way for criminals to steal money, an IT services provider has claimed.

Neil Munroe, external affairs director at Equifax, commented that such cybercrime is on the rise because it has been very difficult to identify this type of criminal and prosecute them for some time.

He added: "It's also very easy and economical for criminals to actually obtain money."

"It takes a lot more activity and risk to break into somebody's house and steal than probably to break into a bank, whereby you can send somebody an email and convince them to give you their bank account details."

Mr Munroe went on to point out internet fraudsters have realised there is a lot of information around that they may not have been able to get ten years ago when the web was less developed.

Earlier this year, fraud prevention service CIFAS reported that the total number of cases they received by the end of the first quarter of 2008 was 52,286, up ten per cent compared with the same period last year.


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