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"Beat the fraudsters by keeping an eye on your credit"

By admin | October 13th, 2008 | Featured

Every year fraudsters get away with around £1.7 billion through their fraudulent activities, and around 100,000 people fall victim to identity fraud each year. As most of us have seen over the past year or two there are no guarantees when it comes to the safety of our personal data, and banks, agencies, and even the government have made massive blunders when it comes to losing the personal data of millions of people. This is why it is up to the consumer to try and protect their own interests when it comes to the safety of personal data.

One of the most recent cases that has hit the financial headlines involved a computer that was sold on eBay. Luckily it was purchased by an honest IT professional, who was horrified to find that the hard drive of the computer contained the banking and personal details of millions of custo9mers of NatWest, RBS, and American Express. An investigation has now been launched into how the computer came to be on eBay in the first place, but this is no consolation to the millions of people whose data could have so easily fallen into the wrong hands.

In fact, over the past year millions and millions of people have had their personal security breached through no fault of their own. HM Revenue and Customs alone lost the details of twenty five millions consumers. Following the latest incident industry officials are once again warning consumers to keep an eye on their credit file and look out for any suspicious transactions so that action can be taken to ensure that they do not become a victim of identity fraud.

Consumers who fear that their details may have been compromised in this or any other similar incident are advised to check their credit files from the three credit reference agencies, which are Equifax, Experian, and CallCredit. These can be posed out by the credit reference agencies within seven working days, and will cost just £2. The easiest way to get a hold of your credit file is to do it online, as this will give you pretty much instant access to your file.

Anyone that checks their credit file and picks up on suspicious transactions should contact both the credit reference agency and the bank immediately to alert them. You will only need to contact one credit reference agency, who will then alert the other two agencies along with all other lenders involved.

Another step that you can take is to contact the fraud prevention service Cifas, which can put procedures in place to ensure that any credit applications made in your name are checked more closely and that additional security steps are taken. This is a good idea for anyone that is worried about becoming a victim of identity theft in the future, even if your details have not been lost – with the number of breaches that have taken place over the past couple of years you just never know when your name may be on that all important list of missing details!

Tags: cifas, Credit Cards

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