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Identity Theft Identity theft is when someone fraudulently uses your identity to obtain such things as loans, credit cards and mortgages in your name, running up massive bills and who then just disappear. It can easily happen and you usually will not even know you have been a victim until well after the crime.Identity theft has become one of the fastest growing crimes in recent years and as communications become easier such as the internet and email this has fuelled this type of criminality. It affects up to 100,000 people every year, criminals get a few of your personal details and then they can apply for credit cards, bank accounts, benefits and other official documentation in your name. Although the financial loss is usually covered by the major banks it can take along time to resolve and in the meantime you could find it difficult to get credit cards, finance or even a mortgage until it is resolved. There are lots of different types of scams and they do vary however here are the most common ones used: 1) Phishing - this is the term used when you receive an email from what you think is your bank asking you to update your security details via a link. When you click on the link it then takes you a false website, which looks exactly the same as your banks original site, they then use the details to get in to your account. If you ever receive such an email, just delete it your bank WOULD NEVER ASK YOU FOR YOUR PERSONAL INFORMATION so do not provide it. For examples of the different types of emails check the Bank Safe Online for details. 2) Skimming is a type of credit card fraud. Your credit card is cloned by copying the magnetic strip that holds your personal details. It is copied by a machine called a card skimmer which is no bigger than a packet of cigarettes. The most typical place your card is copied is in a restaurant, petrol garage or anywhere where you might hand over your card and there is the chance for it to be taken out of your sight as this provides and an ideal opportunity to copy it. 3) Ponzi schemes otherwise known as (investment schemes, also like illegal pyramid selling) work on the "rob-Peter-to-pay-Paul" principle, the money from new investors is used to pay off investors at the beginning of the scheme, eventually the whole scheme will collapse. 4) Boiler Rooms are basically share scams and involve a broker who will call to sell the unsuspecting victim inflated and worthless shares that are usually impossible to sell. The broker is usually operating from overseas so they are outside the remit of the FSA, however, they will have a UK-listed address and a flamboyant name to make them sound legit. The name derives from the pressurized sales technique used by the brokers. A great resource to find out more information is run by the Home Office Click here for more information. You can also consider registering with CIFAS for their Protective Registration at £14.10. Run by Equifax it is another way to protect your information for more details go to www.CIFAS.org.ukTo check your credit rating try one of the following Companies: Experian Equifax Check My File Call Credit |
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