Although identity fraud is still prevalent, CIFAS – the UK’s Fraud Prevention Service, has also warned of the rise in facility takeover fraud.

Rather than impersonating a victim, this involved the hijacking of an account – a criminal activity which saw a 207 per cent rise in 2008.

Richard Hurley, CIFAS Communications Manager, commented: "Anyone who thinks that fraud is a victimless crime should think again.

"The financial costs can be bad enough, but the emotional and psychological effects are unquantifiable."

Victims reported coming back from holiday to find there was little money left in their account, showing people need to be extra vigilant when it comes to managing their cash.

The latest Unisys Security Index found that 72 per cent of UK citizens believe they are at greater risk from identity theft and related crimes such as credit card fraud as a result of the financial crisis.

It also found that 88 per cent of consumers are concerned about other people obtaining and using their credit card, debit card or bank account.