The current economic climate continues to put pressure on consumers, with rising living costs reducing ‘real' incomes. The financial crisis has also changed attitudes to big businesses, with the financial services sector in particular receiving a negative reception from some elements of the media and some consumers.
Could the combination of these challenges be influencing consumers' propensity to be less than truthful on credit applications or insurance claims? In what instances do consumers consider it acceptable to ‘lie'?
These questions, and other issues relating to credit and insurance fraud, were put to more than 2,000 consumers in YouGov research, commissioned by Equifax, to gain a greater understanding of attitudes to fraud. The research findings and implications of consumer fraud were debated at a fraud roundtable event hosted by Equifax and attended by a cross-section of fraud and risk specialists.
This whitepaper highlights some of the insight provided. Topics for debate include:
- The key motivators behind fraud.
- Suggestions for what businesses, across all sectors, need to do to lead change.