London Toppled as Identity Fraud Capital of UK
NOTTINGHAM, England, May 3, 2012 /PRNewswire/ --
- Fraudsters moving away from targeting wealthier areas
- Young social housing tenants now most targeted
The UK's ID fraud hotspot has shifted westwards, with Slough having overtaken London to become the country's top identity fraud capital, new figures from Experian reveal.
The Experian Fraud Report has found that residents of the Berkshire commuter town are more than three times as likely as the rest of the UK to be targeted by identity fraudsters, though the nation's capital still features most of the 10 boroughs with the highest level of fraudulent activity, East Ham rating over 10 times the national average.
Identity fraud is one of the fastest-growing crimes of the 21st century, and anyone could be at risk from fraudsters getting hold of their personal information. That is why it is so important to have proper safeguards in place to protect your identity if the worst should happen, such as Experian CreditExpert's alerts if there are any significant changes to your credit report.
The remainder of the top 10 nationwide ID Fraud hotspots are made up of a mixture of London commuter belt towns and major regional cities. Gravesend in Kent, Birmingham, Luton in Bedfordshire, Manchester and Leicester are all targeted at twice the national average rate, with High Wycombe, Peterborough, and Windsor completing the top 10.
Peter Turner, Managing Director at Experian Interactive, commented: "Fraudsters are becoming increasingly sophisticated and are now targeting groups that they know to be vulnerable, such as people in rented accommodation or on low incomes. We're also seeing young professionals who are heavy internet users being targeted.
"But some simple steps can protect you. Be cautious about what information you give out and what links you click on, and keep abreast of bank statements and yourcredit report. As an Experian CreditExpert customer, you will be alerted to any irregular transactions or applications in your name."
Shifting targets
Nationally, the report reveals that ID fraud across all financial products has remained constant, rising one point from six cases per 10,000 in 2010. However, there has been a dramatic shift in ID fraud targeting current accounts and mortgages by fraudsters.
Identity theft via current accounts has more than doubled (from 6 to 14 in every 10,000 applications), while fraudulent mortgage applications quadrupled (from one to four in every 10,000) respectively.
In contrast, identity fraud attempts on credit cards have seen a decrease from 17 to 4 in every 10,000 applications.
And it's not just the types of financial products that fraudsters are targeting that are changing. Whereas the number one target was formerly the country's wealthiest living in London's most fashionable areas, this has now shifted to younger, lower-income groups renting small flats from local councils or housing associations, or living in old, terraced housing in the centre of large towns. They may not have the large credit lines of wealthier victims, but they are often easier to target.
To avoid becoming a victim of identity fraud, Experian CreditExpert has developed the following top tips:
- Be smart with your smartphone
Be careful what information is stored on your phone - including emails that can be accessed without a password. You should also be wary of security settings if you access public Wi-Fi hotspots, especially if you use your phone to bank online.
- Don't reveal too much on social networking sites
Fraudsters use personal details like date of birth, age, maiden names or pets' names to guess private passwords.
- Keep pins and passwords private
Memorise details rather than writing them down and never give account details to anyone else. Use different passwords for different accounts and try to avoid easily guessed names.
- Keep your firewalls and security settings up to date
- Read your bank statements for irregularities
And if you receive paper statements, be sure to shred them.
- Check your credit report regularly
It's a history of all your credit accounts and will highlight any irregularities such as suspect applications for credit and rises in card balances. You can view your credit report free with a 30 day trial with Experian CreditExpert.**(*New customers only. Monthly fee after trial ends)
- If in doubt, don't click
If an email seems suspicious, contact the relevant organisation and don't give out personal details. Your bank, credit card provider and any reputable business will never ask for confirmation of details by email.
Identity fraud hotspots
Cases / 10k Cases / 10k
Top 10 nationwide households Top 10 in London households
Slough 25 East Ham 78
London (all) 22 Woolwich 46
Gravesend 20 Stratford 43
Birmingham 17 Ilford 33
Luton 16 Walthamstow 27
Manchester 15 Harrow 27
Leicester 14 Cheapside 26
High Wycombe 13 Lewisham 26
Peterborough 13 Hatfield 26
Windsor 12 Enfield 26
Identity fraud risk by demographic
2011 2010 Change in ID
fraud risk
ID fraud risk ID fraud risk score
score (% score (%
Group (% UK adults) attempts) attempts) 2010 - 2011
Upper Floor Living
(4%) 256 (11%) 175 (9%) +47%
Terraced Melting
Pot (7%) 242 (16%) 138 (10%) +75%
Liberal Opinions
(9%) 183 (16%) 208 (18%) -12%
New Homemakers (4%) 167 (7%) 135 (8%) +24%
Alpha Territory
(4%) 149 (6%) 301 (11%) -50%
Claimant Cultures
(5%) 92 (4%) 34 (2%) +168%
Suburban Mindsets
(13%) 87 (11%) 92 (10%) -5%
Careers & Kids (5%) 77 (4%) 93 (5%) -18%
Professional
Rewards (10%) 65 (6%) 121 (10%) -46%
Industrial Heritage
(7%) 57 (4%) 49 (4%) +15%
Active Retirement
(3%) 51 (2%) 40 (2%) +28%
Ex-Council
Community (11%) 47 (5%) 45 (4%) +4%
Small Town
Diversity (9%) 42 (4%) 50 (4%) -16%
Elderly Needs (4%) 34 (1%) 24 (1%) +42%
Rural Solitude (5%) 30 (1%) 57 (3%) -47%
Notes to editors:
All figures based on analysis of information from the National Hunter anti-fraud data sharing system and the Insurance Hunter database.
Key benefits of Experian CreditExpert membership:
• Experian is the UK's most trusted credit reference agency
• Experian is the credit expert with more than 30 years of experience
• Free 30-day trial of CreditExpert*(*New customers only. Monthly fee after trial ends)
• Unlimited access to your Experian Credit Score
• Weekly alerts of changes to your credit report
• Access to an award-winning, UK-based customer services team
• Identity Protection Insurance of up to £75,000** (**terms and conditions apply)
• Expert advice and tools to help improve your credit rating
• Intelligent price matching to credit products suited to your credit history
• Consumers can apply directly from the website: http://www.creditexpert.co.uk
About Experian
Experian is the leading global information services company, providing data and analytical tools to clients in more than 80 countries. The company helps businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. Experian also helps individuals to check their credit report and credit score, and protect against identity theft.
Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended 31 March 2011 was US$4.2 billion. Experian employs approximately 15,000 people in 41 countries and has its corporate headquarters in Dublin, Ireland, with operational headquarters in Nottingham, UK; California, US; and São Paulo, Brazil.
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