The level of fraud on insurance policies has more than doubled since the start of the credit crunch, and the ongoing squeeze on household finances is likely to lead to more cases, a credit reference agency has claimed.
In this sector, 86% of frauds involved the person applying for the policy or making a claim.
Across the board, Experian said the group responsible for the most fraudulent applications for financial products in 2012 was a group it classifies as "Terraced melting pot".
This group, which represents people in routine urban occupations, was responsible for 21% of first-party fraud cases over the year.
The "Liberal opinion" group, which consists of young professionals and well-educated people, came next accounting for 14% of first-party cases. In total, about 70% of financial services application fraud was down to first parties misrepresenting their circumstances.
Experian said it expected fraudulent applications to continue to rise throughout 2013, driven by the ongoing squeeze on household incomes and benefits, and stricter credit and lending criteria.
"As a result of poor or patchy credit, more and more 'non-professional' fraudsters are clearly attempting to ease their position, misrepresent applications or make exaggerated claims over their income and personal finances," said Nick Mothershaw, UK director of identity and fraud at Experian.
"Mortgages, current accounts, insurance and cards will continue to come under pressure from fraudsters keen to get their hands on cash facilities."
