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Credit Check Numbers Up After ID Fraud Scares
Tens of thousands of concerned consumers are attempting to find out if they have been the victims of identity fraud and lost any savings. Credit check agency, Experian, have reportedly received 69 per cent more calls this year – up to 70,000 enquiries – as people have reacted to the news in October that HM Revenue and Customs contrived to lose two discs containing the entire child benefit database.
The details on these discs (including names, addresses, dates of birth, and National Insurance and bank details) could potentially be of enormous benefit to those wishing to commit identity theft.
Information Commissioner, Richard Thomas, yesterday informed the House of Commons justice committee that several similar security failings had since come to light. Mr Thomas said, “Quite a number of organisations, both public and private sector, have come to us saying that they think they have found a problem. None appear to be on anything like the same scale as that involving HMRC, but I think there is certainly more to come out in the wash as we move forward.”
Information on the two lost discs alone could be worth up to £1.5 billion to criminals who trade fake IDs and bank details. Once they have this information about a person’s identity they could then get a loan, apply for a credit card, and go on a spending spree with someone else’s money.
As well as asking for a credit check or requesting an agency to monitor your credit there are other preventative measures that can help stop identity theft, from shredding bills and statements to installing up-to-date anti-virus software, security patches and firewalls on a computer and keeping your PINs and other significant details secure and secret.
Credit Check News posted on 05 December 2007
