Last week we published an article on how to protect yourself against the growing threat of Identity Theft and Fraud - Click Here to read it
Following on from it here is some more information and help.
Firstly Some Perspective
Although ID theft is a problem which is getting worst it's a crime that is very 'marketable' by the media press and others who have an interest in making money of selling protection. The thought of somebody pretending to be us is one that naturally horrifies but the crime is rare. Cases of ID theft rose by just over 20% last year but other less sensational financial crimes such as cash machine fraud rose by over 80%. Latest figures state that ID theft accounted for under 10% of total credit card fraud in 2004.
The government has estimated that identity theft cost £1.3billion last year but as experts argue this is misleading because if some punk goes spending on your card, the banks cover the cost.
So yes, ID theft is a problem but perhaps not the major problem we've been led to believe. However we should still take sensible measures to prevent it happening to us. Follow these guidelines.
ID Theft Insurance Policies
- The Capital One No Hassle Platinum offers free identity theft assistance in the form of a 24 hour helpline - Click Here for further details
- Saga offers insurance cover against ID theft as add-ons to their home contents insurance - Click Here for further details
- The Royal Bank of Scotland offers Privacy Guard which costs £6.99 a month (£83.88 per annum). This offers unlimited access to your credit reports as well as being alerted to any chances to your credit file (an example of a change would be when you or someone applies for a new credit card). The policy also enables you to claim legal costs of up to £8,000 should you suffer a serious case of ID theft
Summary
It seems that we the general public have been over-sold on identity theft. Yes it's a problem but a minor one for most people. The best advice is to follow the simple guidelines located here as well as visiting these two helpful websites www.identitytheft.org.uk and CIFAS guidelines on ID theft
Useful Links
