Did you know…that identity fraud is one of the UK’s fastest-growing crimes, with more than 120,000 cases recorded last year?

• It takes an average of 539 days to discover that you’ve become a victim of identity fraud – and up to 500 hours of work to clear your name!
• One in four UK adults has either been a victim of ID fraud or knows someone who had suffered from it, according to Which?
• Londoners are twice as likely to have their identity stolen by criminals as people in other parts of the UK? People in the South East and North West are the next most vulnerable.
• You are at risk of having your identity stolen if you don’t redirect your post after moving home?
• Almost half of all adults in the UK have been targeted by criminals trying to get personal financial data over the internet or phone – and that five per cent of people fall for these scams?

Identity theft is a term used to refer to fraud that involves pretending to be someone else in order to steal money or get other benefits. The term is relatively new and is actually a misnomer, since it is not inherently possible to steal an identity, only to use it. The person whose identity is used can suffer various consequences when he is held responsible for the perpetrator's actions.

According to the non-profit Identity Theft Resource Center, identity theft is sub-divided into four categories:

financial identity theft (using another's identity to obtain goods and services)
criminal identity theft (posing as another when apprehended for a crime)
identity cloning (using another's information to assume his or her identity in daily life)
business/commercial identity theft (using another's business name to obtain credit)

Identity theft may be used to facilitate crimes including illegal immigration, terrorism, and espionage. Identity theft may also be a means of blackmail. There are also cases of identity cloning to attack payment systems, including online credit card processing and medical insurance.

Some individuals may impersonate others for non-financial reasons - for instance, to receive praise or attention for the victim's achievements. This is sometimes referred to as identity theft in the media.

More Helpful Information

Keep Safe Online

Who is looking at Your Identity

What to Do if your ID is stolen

If you are worried about becoming a victim, sign up for a free, 30-day trial at CreditExpert.co.uk, the online credit monitoring and identity protection service from Experian. Then you can check your credit report – your personal credit history – at any time to be sure that nobody has applied for loans, mortgages or cards in your name. The service also sends you a weekly alert if there is any significant change to your credit report, so you spot any problems immediately and resolve them quickly.

Specially commissioned research compiled for the Week* shows that whilst the public fear being a victim of identity fraud more than pickpocketing, muggings or even burglary, a large number still put themselves at risk by disposing of private information without first rendering it unreadable. large number still put themselves at risk by disposing of private information without first rendering it unreadable.

A new poll by Populus* shows that 40% of the public questioned rated identity fraud as their major concern in a list of crimes that included burglary (27%), mugging (21%) and pickpocketing (3%).

Despite this, a new piece of ‘bin raiding’ research*, shows that an alarming 77% of household waste contained at least one or more items which could assist fraudsters in stealing an identity. With 24.5 million households in the UK, that would suggest that over 18m households are under threat from identity fraud because they are failing to take the simple recommended steps to render their private information unusable for identity thieves.

Almost every week, a scare story about identity fraud makes news, with stories of victims losing their savings, their homes or their businesses to criminals who have impersonated them – and cleaned them out. Fortunately, most people are not hit so hard. Research by the Victims of Fraud service at Experian, the UK’s leading credit reference agency , shows that the average losses range from almost £2,000 on a credit card to more than £7,000 on a current account.

But the disruption suffered by those whose identities have been stolen and misused is often devastating. Victims of Fraud has found that it can take up to 500 hours of work to sort out the mess. In the meantime, the victim often finds it impossible to get a credit card, loan or mortgage – which is a major inconvenience for most people.
In an attempt to tackle the problem, the government has launched a campaign to warn us of the dangers, help us to keep our identities safe and offer us advice on what to do if we become victims – visit www.identity-theft.org.uk for more information.

From theft to fraud

Identity theft takes place when a criminal gets hold of enough personal and financial details to impersonate you. Common methods include raiding your rubbish in search of discarded documents such as bank and credit card statements, stealing personal documents such as passports, or intercepting your post. Theft turns to fraud when someone uses those details to get money, goods or services in your name, often by taking out loans and credit cards and running up debts that they have no intention of repaying.

Victims of Fraud has found that it takes an average of 539 days to discover that you’ve become a victim. Alarm bells often ring only when you are pursued for a debt you knew nothing about, or perhaps when your post goes missing.

Steps you can take to protect yourselves include:

• Monitor your credit report online and get unlimited access with CreditExpert.co.uk
• Keep your personal and confidential documents secure
• Always shred before disposing of documentation – bank and credit card statements, utility bills, receipts, direct mail containing any personal information, mortgage applications etc
• Regularly check your bank and credit card accounts for unusual transactions
• When you move home, redirect your mail to your new address by contacting Royal Mail Redirection Service on 0845 7740 740, visiting your local branch or www.royalmail.com
• Never give out any personal information to unidentified individuals or organisations who contact you by phone, email or face-to-face
• If you have been a victim of identity fraud contact your nearest Police station or visit www.met.police.uk/fraudalert/
• If you have information about identity fraud contact the police or call Crimestoppers to give information anonymously on 0800 555 111.

Sign up here to check for Identity Fraud!

An American Article About Identity Fraud

Identity Fraud Costs You More Than a Name

ARTICLE SUMMARY: Most people's worst nightmare is to be a victim of identity fraud.

By : MIKE SELVON
Submitted 2007-07-18 03:06:02

If you have ever received a call from a collection agent claiming you owe money for a loan you don't recall applying for, you very well could be a victim of identity fraud. All someone needs is your name, social security number, date of birth and account numbers to ruin you financially.

This information is easier to obtain that you think, and before you realize it, you are a victim of identity fraud.

There are several common ways identity fraud is carried out. Online identity theft, considered to be the most popular form of identify fraud, is only one. Another method has been nicknamed "dumpster diving," which involves stealing mail by rummaging through someone's garbage for identifying documents.

These often include discarded receipts and paid bills, which all have identifying information on them that thieves find useful. One method used to fight identity theft is quite simple and effective: Consumers can reduce the risk of becoming the victims of identity fraud by buying and using a paper shredder. That way, no information of potential importance leaves the house intact.

Have you ever received an email from some stranger overseas claiming that you have inherited millions of dollars but have to send them your account number so they can wire it to you? Have you ever gotten a message from your bank asking for information about you, but you know they already have all that information?

If you can answer yes to either of these questions, you may have been singled out as a potential victim of online identity theft. This identity fraud tactic is known as "phishing." There is no trick to fighting identity fraud like this, save using common sense. If you aren't expecting an email from a trusted source or if you don't know the sender, it is safer to just delete the email.

Of course, the biggest way identity theft gets perpetrated is the most recognizable. Hackers take a more direct approach to fraud. They break into computers and steal the information they need. Again, there's a good way to fight identity theft of this type: Purchase good virus protection and firewall software to block unwanted intruders from your computer.

A series of three-year surveys that ended in 2006 show that, while there has been a decrease in the number of victims of identity fraud, the cost rose to $56 billion dollars last year. More statistics show that:

The average time a victim takes to fight identity theft is 600 hours. 3/4 of victims who responded to the survey said that the crime involved someone getting their hands on a credit card. The impact of online identity theft and identity fraud is similar to that of violent crimes for the victims.

The problem of identity fraud isn't just in the United States. In Europe, the British have crunched some numbers, reporting that identity fraud has cost their economy a shocking 1.7 billion pounds.

Author Resource:- Get all the information you need on identity fraud from Mike Selvon's identity theft portal at http://identitytheft.micronicherecommends.com, and leave a comment at his blog at http://www.mynicheportal.com/financial-services/.

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