Credit Crunch Fraud Warning
Category: General. Date published: 08/10/2008
The “credit crunch” could see identity fraudsters target bank account holders…
According to the all-party parliamentary group that debates and aims to combat identity fraud, thieves are finding it much more difficult to exploit fake identities to open new accounts; new restrictions on credit mean that the group has warned that fraudsters are now targeting existing accounts.
As the group’s chairman Nigel Evans MP explains many people are "not being smart enough" to protect themselves from bank account fraud. Although the Home Office said it was "committed" to tackling identity fraud its clearly looking for the UK public to be more vigilant.
According to the group the last year has seen a fall in traditional forms of identity theft, which includes "application" fraud (where fraudsters try to use stolen or false documents to open a new bank account) however there are concerns over the reports claims that there's been a "vast" increase in cyber crime!
Cyber crime is the illegal use of the internet and e-mail to tap into existing accounts or to find out personal credit card details, unfortunately this type of crime is on the increase.
The British Bankers' Association (BBA) explained that there are "simple steps" customers could take to prevent identity theft, including:
- Make sure you are up to date with your personal internet security
- Keep your bank cards and PIN numbers secure
- Securely dispose of your statements and letters from banks & finance companies
- Report any suspicious activity on your bank account immediately
This may not have affected you yet but this is not a small problem and diligence can help you avoid becoming a victim of fraud, the Home Office estimates that ID fraud cost the UK economy £1.7bn in 2006!
Make sure you’re not a victim in 2008 and beyond…
