In National Identity Fraud Prevention Week Capital One is warning that over 42 million adults in the UK don’t know how to discover if they have been a victim of ID theft, despite almost blanket awareness of the threat.
Research from the credit card company reveals that only one in ten people know exactly what do if they suspect their ID has been stolen. Encouragingly, almost everyone surveyed (99%) was aware of the threat posed by ID theft. Nearly 25 million (41%) were worried it would happen to them. To help build on existing awareness and educate its customers, Capital One has published a comprehensive advice guide to help people prevent, spot and resolve identity theft.
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:
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
14 million do not shred confidential personal documents
Professor Martin Gill, Criminologist from Perpetuity, a research consultancy associated with the University of Leicester, says: “Although these figures encouragingly show an almost universal awareness about ID theft, and a high level of concern, it is worrying that people are still being blasé about storage and disposal of confidential personal documents.
“Young people particularly seem to be showing high levels of careless behaviour with more than half (55%) of 18-24 year olds taking no action to protect themselves against the risk of ID theft. Despite the high awareness of identity theft the research also highlights a real need for increased knowledge about how to identify and resolve the problems that result from fraudulent use of someone’s identity.”
Sanjiv Yajnik, Principal Managing Director, Capital One says: “We welcome such high-profile awareness raising campaigns as the National Identity Fraud Prevention week as it is concerning how many people our research reveals have no idea how to tell if their ID had been stolen, or what to do about it if they had unfortunately become a victim. The tell-tale signs of ID theft often include unexplained items appearing on bank and credit card statements, receipt of bills and receipts of goods or services you haven’t asked for, being told you are already claiming state benefits you weren’t aware of, or being refused a financial service despite having a good credit history.
“The best advice 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.”
Over 80% of those researched said they would value advice and assistance if they had their ID stolen. Capital One can help its customers to protect themselves against the perils of ID theft, and to pick up the pieces if they fall victim. Its newly updated free ID theft service will provide a named adviser to provide to help at every stage of the resolution process if a cardholder discovers they have been a victim of ID Theft.
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