EQUIFAX LEADS AGAIN ON LOAD OF ELECTORAL ROLL
But warns that ‘opting out’ may have serious consequences in the battle against ID fraud
January 6 th 2005 – Equifax Plc is, again, the first credit reference agency to load the 2005 Electoral Roll for credit purposes. Over 40 million records have already been loaded out of the 42 million so far received from the UK ’s local councils and the company expects to complete loading for the entire UK electorate – amounting to some 44.9 million - by the end of January 2005.
The speed of the loading of this data is crucial in order for lenders to make effective risk decisions. However, whilst all Electoral Roll data is available for credit purposes, its use for general identity verification and direct marketing is being diminished. The percentage of individuals who have opted out of their electoral roll data being used for general purposes is predicted by Equifax to increase to as much as 30 percent of all voters for 2005 - an increase of just over 3 percent on 2004.
Neil Munroe, External Affairs Director of Equifax is warning that this trend could make the business of tackling ID fraud more difficult as well as reduce access to online and mail order services for many consumers. “Electoral Roll data not only plays a crucial part in the lending process, but also helps verify a person’s identity when making online or phone purchases. When individuals opt out, companies have to find alternative sources in order to verify their identity, and this can slow down the process dramatically. Far from making life more convenient for consumers, opting out actually makes something as simple as paying for goods over the phone or online a lot slower.”
But, according to Equifax analysis, the picture is not all negative. Thirteen percent of council returns show a reduction in opt-out and a further 50 percent show increases in opt-out of less than 5 percent. This proves the opt-out change has slowed compared with 2004 when there was around a 5 percent increase in the opt-out rate from 2003.
Munroe concludes, ”Equifax is committed to providing up-to-date Electoral Roll information to lenders and other organisations to make credit applications and other transactions as fast and efficient as possible. Without this crucial data companies will find it more difficult to process purchases over the phone or internet instantly and it will lead to increased inconvenience as additional checks will be needed to confirm their identity.”
ENDS
January 2005
Top 10 Councils with INCREASED Electoral Roll opt out figures
| Council | 2003 Opt Out % | 2004 Opt Out % | Opt Out Change % |
|---|---|---|---|
| Kennet | 27.81 | 72.21 | +44.40 |
| Richmondshire | 17.23 | 53.05 | +35.82 |
| Scottish Borders | 10.23 | 33.56 | +23.33 |
| Dover | 13.34 | 33.44 | +20.11 |
| South Norfolk | 22.69 | 42.00 | +19.31 |
| Eden | 39.52 | 58.19 | +18.67 |
| South Lakeland | 12.89 | 29.57 | +16.68 |
| Sutton | 32.82 | 49.18 | +16.36 |
| Kerrier | 13.38 | 29.29 | +15.91 |
| Southend-on-Sea | 22.64 | 37.37 | +14.73 |
Top Ten Councils with DECREASED Opt Out Figures
| Council | 2003 Opt Out % | 2004 Opt Out % | Opt Out Change % |
|---|---|---|---|
| Newport | 68.25 | 23.69 | -44.56 |
| Stroud | 41.78 | 17.55 | -24.23 |
| Stockton-on-Tees | 51.75 | 30.73 | -21.02 |
| Vale of White Horse | 34.63 | 15.10 | -19.54 |
| Easington | 73.57 | 55.49 | -18.08 |
| Grampian | 25.82 | 8.79 | -17.03 |
| Test Valley | 41.31 | 24.28 | -17.03 |
| Reading | 33.97 | 18.06 | -15.91 |
| South Cambridgeshire | 36.78 | 20.95 | -15.83 |
| Isle of Wight | 32.67 | 20.60 | -12.07 |
