PREVENTION IS BETTER THAN CURE
www.myequifax.co.uk Warns Consumers to Look after their Identity
London 2nd March 2005 - New research on Identity Fraud revealed this week, reinforces findings from www.myequifax.co.uk. A quarter of respondents to a survey of MyEquifax customers had already been victims of ID Fraud and over two thirds are concerned that they may be at risk*. ID Fraud is now one of Britain’s fastest growing crimes. 2004 saw a 20%** increase in identify fraud compared to 2003 and this hidden crime is estimated to be costing the economy £1.3 billion a year.
Neil Munroe, external affairs director of Equifax comments, “Fraudsters will use any means to obtain personal information, from paying homeless people to rummage through bin bags, ringing you at home purporting to be your bank or another financial organisation, or blatantly breaking into your home and stealing documents and identification. Our research also reveals that a friend, ex-partner or old flatmate is just as likely to steal an identity as is a stranger with over a quarter of victims knowing the person who perpetrated the fraud.”
“This research proves that it’s not just the financial industry that needs to tackle fraud. Consumers also need to do more to stop fraud by being more responsible with their personal information. Consumers need to be more aware of the actions they need to take to protect themselves.”
www.myequifax.co.uk Top Tips to Prevent ID Fraud
- Check your credit report frequently. This is the most effective way of identifying fraudsters using your ID. Go to www.myequifax.co.uk.
- Shred statements, bills and direct mail. These contain vital personal information.
- When you move home redirect your mail to your new address by contacting the Post Office.
- When you receive your new PIN for your card do not write it down and keep it anywhere near your card. If you change you PIN or password, make sure they are all different. Also, don’t use your birthday, phone number or any other obvious passwords.
- Never reveal your passwords or PIN to anyone.
- Always check bank statements and credit card statements against receipts carefully. If you find any unfamiliar transactions contact your bank or credit card company immediately. Fraudsters often do a small transaction first to see if they are noticed.
- If you think you have been a victim of Identity Theft you should consider subscribing to the CIFAS Protective Registration service. A notice will be placed on your credit file indicating that documents have been stolen and that you may therefore be at risk of identity fraud. To register telephone 0870 010 209.
Munroe concludes, “The introduction of Chip and PIN may also contribute to the rise in ID Fraud. If the fraudsters can’t use a stolen credit card them they may turn to impersonating innocent victims. And, when it can take up to 300 hours to clear a victim’s name, we should be concentrating on prevention rather than cure”
For just £11.75 consumers can obtain a copy of their Credit Rating, which includes their Credit Report, instantly, online at www.myequifax.co.uk
* 2,300 MyEquifax members were surveyed
** Figures from CIFAS
If you are looking for commentary on this subject, Equifax can provide consumer credit information experts who have extensive experience on this issue.
If you would like to arrange an interview please contact Cecile Stearn, Sarah Samee, Claire Foster or Wendy Harrison at HSL on 020 8977 9132 or email cecile@harrisonsadler.com
