THE FACTS ON ID FRAUD
WE ALL NEED TO BE MORE CAREFUL
A quick look at the facts and figures about ID fraud clearly shows that we all need to be more careful with our personal information. Information such as your date of birth, address, mother's maiden name, bank details and passwords are now as valuable as money. This could be enough information for a fraudster to open bank accounts, apply for credit cards, loans and much more in your name.
The aim of National Identity Fraud Prevention Week is to highlight the dangers UK citizens face from identity theft and to help them take simple steps to prevent their identity being stolen.
THE NUMBERS
It is imperative that people take more care of their identities. A bin raiding survey commissioned by Fellowes for National Identity Fraud Prevention Week showed that an alarming 79% of household waste contained at least one or more items which could assist fraudsters in stealing an identity.
- The last official estimate puts the cost of identity fraud at over €1 billion each year according to government estimates.
- No wonder then that a Populus Poll carried out on behalf of Fellowes showed that 81% of the British public were concerned about becoming a victim of identity theft. The survey also showed that identity theft was of greater concern than other crimes like burglary, mugging and pickpocketing to people in the UK.
- Even more worryingly, the survey also revealed that almost half of all households threw away everything a potential fraudster would need to steal a person’s identity.
- 22% of us access our bank details at work or in internet cafes – so steps for protecting your identity at home, at work and when out and about are equally important to help keep your identity safe.
- Research from credit reference agency Experian reveals that on average it takes 467 days to discover that you are a victim of identity fraud. By managing your personal information carefully, you can substantially reduce the likelihood of becoming a victim of identity fraud.
Current address fraud
One of the most disturbing developments revealed in 2007 by CIFAS Quarterly Figures is the swing away from previous address fraud towards current address fraud -This trend has continued in the first half of 2008 according to the latest figures from CIFAS.
Current address fraud is a type of identity fraud where the victim lives at the "current address" given on the fraudulent application. The perpetrator of the fraud is often also resident at the same property as the victim. In such cases, the fraudster applies for, and uses, products in the name of the victim whose property they share. The fraudster will generally have access to, or can intercept, the victim's post, for example where individuals are resident at a property that has a communal mailbox with shared access.
Businesses and all organisations also need to heed these warnings
Businesses are just as careless as households with sensitive information - 79% of businesses make no effort to destroy sensitive material that is thrown away or being prepared for recycling.
Incredibly, companies are not just risking their own identities but also those of their customers and their employees
40% of businesses risk their clients identities by throwing away information on their customers which includes home addresses, phone numbers and photocopies of passports - all of which can be used by a criminal to steal a person’s identity (survey commissioned by Fellowes)