UK Consumers Complacent About Identity Theft

According to recent report two thirds of Britons underestimate the risk posed from identity theft. Despite heightened awareness of ID theft, especially over the last twelve months, consumers in the UK still appear to be complacent, research by MyCallcredit reveals.

While figures reveal that eight in ten UK consumers take precautions against ID theft, 50% of those who do not choose not to because they believe it won’t happen to them.

Worryingly, many believe that there is a high occurrence rate of ID theft, with one in four thinking it affects one in 15,000 when it actual fact the figure is a frightening one in 1,000. These consumers are at serious risk of falling foul of ID theft due to them grossly under-estimating the likelihood of ID theft.

Brits’ aged between 16 and 24 appear to be most aware of the likelihood of their ID being stolen. Ironically, however, it is this age group who are likely to take the necessary precautions to protect themselves.

MyCallcredit director, Alison Nicholson, said, “ It’s encouraging that people’s awareness of ID theft and how they can protect themselves is growing, but it’s still a big problem to the people it happens to and that’s one in every 1,000of us at the moment.

“ And while most people know they won’t be liable for any spending by an ID fraudster, they comp0letely underestimate the impact it will have on their lives while they correct the trail left by the criminals on their credit file.”

According to MyCallcredit’s research, millions of consumers in the UK put themselves at unnecessary risk by believing that by simply hiding or cutting a credit card means it can’t be used.

In actual fact the only way to prevent a fraudster using your credit card details to run up huge debts is to cancel the card with your provider.

Alison Nicholson said, “ Too many people, when they decide to stop using a credit card, either stick it in a drawer or cut it up but that’s not enough.

“ Unless you tell the card company you want to cancel it, the card remains live. If a fraudster gets hold of the details they can rack up bills without your knowledge.”

She added, “ Each credit cardholder has an average of 2.3 cards. If just one ten of those cardholders has a card they don’t use that’s three million people who are needlessly increasing their chances of becoming a victim of ID fraud.”

Alisdair Milton
25/4/06

 

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