Money News
New research from Capital One reveals that over 42 million adults in the UK don't know how to determine if they've been a victim of ID theft, while only one in ten knows exactly what do if they suspect their ID has been stolen. Encouragingly, almost everyone surveyed (99%) was aware of the problem of ID theft. And nearly 25 million (41%) were worried it would happen to them.
Identity theft is on the increase in the UK. By obtaining somebody's personal details a fraudster can apply for credit cards, loans and other financial products in their name. They can also obtain mobile phone contracts, driving licences or even passports. The unpaid debts subsequently accrued are then lodged in the innocent person's name. Ultimately, this can lead to encounters with debt collectors, court actions and problems getting a mortgage or even a job.
The research, carried out by YouGov on behalf of Capital One, also revealed that despite such high awareness, and levels of concern, many Brits are still not taking action to ensure the security of confidential information. Indeed, 16 million people take no preventative action at all against the crime; 2.5 million throw documents such as bank statements away intact; 5 million leave important personal information lying around on the kitchen table; 4.5 million regularly carry sensitive documents in their wallets and bags when outside the home; 32.5 million store personal information in their homes, but insecurely and 14 million don't shred confidential personal documents
Sanjiv Yajnik, Principal Managing Director, Capital One, makes the point that the best way for preventing ID theft is to take steps to protect your personal information by redirecting your mail when you move house, keeping important documents in a safe place, and safeguarding your PIN and password details at all times.
Additionally, regularly getting a copy of your personal credit file from a credit reference agency will allow you to spot applications or accounts that have been set up without your knowledge.
28 June 2007 © Moneyextra.com
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