1 in 10 Brits Are Victims Of Identity Fraud

Recent survey figures released by Npower show that 1 in 10 Brits are the victim of identity fraud. However, take-away the number of children in the UK, and this figure is likely to be higher, because 6 million Britons have now been the victim of an identity fraud.

More alarming, given that 20 to 30 year olds are supposed to be more aware of new technological developments, if the fact the under 30s are more likely to be the victim of an identity theft than any other age group and the number one reason cited for the identity theft was because they had shared their financial information with a family member or friend!

In today’s world of microchips and the internet, identity theft can happen in the blink of an eye. Today, information is all powerful. Here’s an example of how this can work:

“You leave you wallet on a table but luckily you remember and go back to find that it is still there. With nothing missing from your wallet you count your lucky stars and go about your business. A couple of weeks later you bank phones you to ask you whether or not you are aware of the number of transactions being made on your credit card in the last few weeks. Knowing that you have not used your credit card, you’re a little surprised to hear this information and tell your credit card issuer this.”

You have just been the victim of the perfect credit card identity fraud. Aware that taking your credit card or money from your wallet will alert you to the fact that something is amiss, the fraudster has written down your credit card number, expiry date and security code (usually found on the reverse of your UK credit card) and has gone about their business while you remain blissful unaware of what’s going on.

Changing technology has meant a radical shift in the way that fraudsters now defraud their victims. Today it possible to defraud victims our of millions of pounds without leaving the comfort of your own front living room. Information about us is literally everywhere and so it is the duty of each of us to try and make sure we limit the opportunities that fraudsters may have to get at our hard earned money. For example:

* don’t dispose of financial information in the regular rubbish

* where possible, shred any documents containing financial information

* if you move residence, make sure you inform everyone you get a bill from that you’ll be moving, even if you haven’t used the card in years

* never disclose personal or financial information on a computer that can be seen or shared by someone else

Richard Smith
11th August 2006

More Information:

• Identity Theft resource center - free advice and help on all aspects of ID theft
• Fighting ID theft - Another great resource packed full of information.
• Identity Theft - Expert Mary J. Frank's website giving advice and precaustions on possible ID theft

More UK Credit Card News
Try our feed