Press Release

A STOLEN HANDBAG CAN MEAN MORE THAN LOST MONEY & CREDIT CARDS

Equifax Warns of the ID Fraud Risks of Stolen Handbags as new research* reveals that 1 in 5 women have had their bags stolen

London 20th April 2009 - Leading instant online credit information provider, Equifax, is warning of the ID fraud risks of a stolen handbag as new research* from Direct Line Home Insurance reveals that over a fifth of women have had their bag stolen.

Research** conducted by Equifax last year found that 77% of women carry their credit and debit cards around with them at all times. While many may argue that this is a necessity, a credit card combined with the information found in payslips, cheque books and National Insurance numbers, doesn't mean good news if the handbag is stolen. And, unfortunately, many women also carry those other pieces of vital personal information in their handbags too!

58% said they keep their driving licence - with a wealth of valuable information for ID fraudsters - in their wallet. And 29% said they also keep recent receipts in their bag which can prove useful in verifying an identity.

"Information is our greatest asset these days" confirmed Neil Munroe, External Affairs Director, Equifax. "But, according to our survey, it appears that women are carrying around enough information for a fraudster to apply for loans, mortgages, credit cards and bank accounts in their name. Anything from payslips, driving licences and mobile phones can be found in a handbag and this is all it takes to commit ID Fraud.

"While everyone knows they should cancel credit and debit cards and mobile phone contracts if their bag is stolen, they may be less aware of the other items in their bag which could lead to them becoming victims of fraud."

TOP 10 HAZARDOUS HANDBAG ITEMS!

Cheque Book - Gives ID thieves account numbers and sort codes - and if you leave the address form on the front, home address too!
Credit Card Receipts - Could reveal card numbers and provide access to an account by using information on recent transactions.
Payslip - Reveals NI number, address, employer and salary details - ideal for fraudsters!
Bank Statements - Could be used to open further accounts or for getting hold of money in your account
Utility Bill - Could be used for ID verification when applying for credit or opening up a bank account.
Driving Licence - Provides valuable personal information such as address and date of birth.
Gym & other Membership Cards - These could potentially give access to personal information and be used for ID verification.
Mobile Phones - Surprisingly, many people store PINs and other personal information on their phone.
Passport - Could be used for ID verification when opening fraudulent accounts.
Diary - Holds personal details and could reveal passwords.

What to do if your handbag is stolen
Equifax advises that if someone has their handbag stolen they should take the following steps:

Cancel all credit and debit cards
Inform their bank
Regularly check their bank statements for any unusual transactions
Obtain a copy of their credit file from a credit reference agency such as Equifax (www.equifax.co.uk)
Register with a monitoring service such as Equifax Identity Watch Lite, which will alert them of any changes to their credit file.

On-going monitoring of credit information is crucial to protect against identity fraud and Equifax Identity Watch Lite makes this as simple and cost-effective as possible. For just £2.99 per month, Equifax Identity Watch Lite takes the worry away from the individual - they just need to check their credit file if there's an alert of changes to their file that doesn't match their own known purchasing and payment activity. This could be a search of their credit file - when they haven't made any new applications for credit. Or details of a new credit account opened in their name that they know nothing about.

Munroe concludes; "Apart from the anxiety and stress caused to victims of ID Fraud, it can take up to 300 hours of phone calls to deal with banks, credit card companies and other lenders in order to get details corrected. This incurs enormous personal time, effort, distress and cost to the victim. Prevention is definitely better than cure. Our advice is that people should only take out with them what they absolutely need for the day, and women in particular should always keep a close eye on their handbag, in order to minimise the risk of falling victim."

ENDS

* Direct Line Home Insurance Research published 17th April 2009
** Survey of 590 Equifax customers July 2008

For further press information please contact: Elinor Puzey, Louise Fowler, Cecile Stearn or Wendy Harrison at HSL on 020 8977 9132 / Fax: 020 8977 5200 or Email: elinor@harrisonsadler.com