Identity theft is growing at 165% per year, costing over £1.3 billion in the UK. Nearly half of all the rubbish bins contain enough information for transactional fraud. 80% of all local councils say bin raiding occurs in their areas…
Reports show identity fraud victims spend over £500 and 14 to 16 months to clear their names. And it could happen to you!
- There are 80 million active National Insurance numbers in the UK, with a population of 60 million.
- Identity theft accounts for 5% (£20.6 million) of plastic card fraud losses.
- Identity theft is not an offence under current UK law and it largely fails to attract the attention of statisticians or politicians. It is estimated that the Police investigate less than 1% of identity fraud cases.
- The Department for Work & Pensions estimated that benefit fraud involving stolen identities cost the UK approximately £50 million in 2001-2.
- The Home Office estimates that it would take the average identity fraud victim 300 hours to put their records straight after a criminal has stolen their personal history. Source: www.cifas.org.uk
Corporate Identity Theft
In 2002, Experian, the Credit Reference Agency, found that;
- 94% of business threw out documents containing their own names & addresses
- 20% had thrown out their bank details
- 44% threw out a whole utility bill
- 41% threw away financial records
- 61% threw out a document with a signature on it (24% had a directors signature)