New research shows that 43 out of every 10,000 mortgage applications are expected to be fraudulent next year.
The majority of fraudulent applications are most likely to come from first-party dishonest individuals misrepresenting their own financial circumstances and employment statuses, along with attempting to conceal unfavourable credit history.
However, the research underlines the emerging fraud threat facing the country's financial services sector, as it showed that attempted mortgage fraud in the third quarter of 2012 was up 6pc compared to the same period in 2011.
Savings account fraud has risen by 58pc compared with the same period last year, rising from 7 in every 10,000 applications to 11 in every 10,000 applications. The vast majority of fraud is conducted by third party individuals, often perpetrated for money laundering or sleeper fraud purposes.
Every 38 in 10,000 mortgage applications were deemed fraudulent in 2012, whereas it was only 36 in 10,000 a year ago. It is the first time within the past year that mortgage fraud has overtaken current account fraud as the area targeted most frequently by fraudsters.
Attempted current account fraud increased slightly by 4pc in quarter three, to 31 in every 10,000 applications compared to 30 in 2011.
However, attempted fraud in the automotive finance sector fell for the sixth consecutive quarter, with 15 in every 10,000 fraudulent applications discovered between July and September 2012, down 29pc compared with 2011.
Loan fraud was the only one to remain the same as it was in the same period of 2011, at 6 in every 10,000 applications.
Overall, 17 in every 10,000 applications received by financial institutions in the third quarter of this year were detected to be fraudulent seven per cent more than the same time last year, with savings accounts seeing a rise of 58pc.
Nick Mothershaw, of Experian, said: “Almost 90pc of mortgage fraud tends to originate from genuine individuals misrepresenting their financial situations.
"With tougher rules on UK mortgage lending set to come into force in 2014 where lenders will have to put a borrower's ability to repay under greater scrutiny it important that they have the correct tools in place to do this, especially as attempted fraud in this industry is set to increase significantly over the next 12 months.
“Increased fraud levels in specific industries mean that it has never been more important to ensure that applications for new credit facilities are analysed for signs of fraudulent activity."