CONSUMER PROTECTION IN THE FIGHT AGAINST IDENTITY FRAUD
Equifax offers consumers the CIFAS Protective Registration service
Over the last year, credit card fraud in the UK has soared to £228 million*. Identity fraud continues to play a large part in this sector of financial crime, while CIFAS, the UK's Fraud Prevention Service, reports that overall fraud is up by 30 per cent in Quarter 3 2002 over 2001. CIFAS figures show that false identity and impersonation fraud continues to be the fastest growing type of fraud in the United Kingdom, with false identity fraud up 59 per cent and impersonation fraud up 25 per cent. CIFAS reported over 40,000 such cases in 2002 compared with 13,000 in 2000.
In response to this continuing threat, Equifax, a leading credit information provider, is working with CIFAS to help consumers protect themselves from identity fraud. CIFAS provides a service, known as Protective Registration, which allows consumers to register their address on CIFAS if they believe it may be misused. Protective Registration is now administered by Equifax on behalf of CIFAS.
If an individual has been a victim of a mugging or burglary and personal documents have been stolen, there is a possibility that the thief could use the documents to obtain credit or other services by using the victim's name and other personal information.
Credit fraudsters can use the information on bank statements, passports, driving licences and other sources of identification to apply for credit and purchase goods and services under the assumed identity of their victim. But consumers are often unaware of the crime until hefty bills demanding payment arrive on their doormat. However, for an annual registration fee of £11.75, the CIFAS Protective Registration Service can help prevent a consumer's name and address from being misused in this way.
The warning, which is quickly relayed to all major credit reference agencies, will indicate that the individual has been recorded on the CIFAS database at their own request. When CIFAS members, who include many of the UK's leading insurance companies, banks, building societies and telecommunication providers, conduct a search on an address that is on the CIFAS Protective Register they will see a message saying "CIFAS - DO NOT REJECT - REFER FOR VALIDATION". They will then be able to contact the team at Equifax to establish the reason for the entry.
"If a consumer has requested CIFAS Protective Registration, CIFAS members will be provided with an instant alert to thoroughly investigate and verify the applicant when a check is conducted on their address", confirmed Michael Shannon, Managing Director, Equifax Ltd. "This should make it harder for fraudsters to slip through the net. In some cases CIFAS members will request further proof of identification, which may delay legitimate applications, but it's a small price to pay for the sense of security it brings.
Shannon adds "At Equifax we are committed to putting the consumer in control - the CIFAS Protective Registration Service gives them the power to stop the fraudsters in their tracks."
To apply for the CIFAS Protective Registration, consumers will need to contact the Protective Registration team at Equifax on 08700 102 091 and supply the following details:
- Full name
- Date of birth
- Full address with postcode
- The names of anyone else living at the address, and their date of birth
- Home and work telephone numbers including the dialling codes
- A crime reference number if applicable
- Details about why Protective Registration is required
Once this information is received, the entry will be placed on the database and the consumer will receive confirmation by post. The entry will remain on the database for at least a year from the date of registration, but consumers can request its removal or extension by writing to Equifax.
ENDS
January 2003
*Datamonitor Quarter 3 Report
