Identity theft and reducing the risk
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Your personal identity is one of your most valuable assets. When someone steals your identity, they can use it to get finance in your name in the form of a mortgage, a loan or credit card. They can also use your identity to commit other frauds including; claiming benefits, driving licenses and claiming other documents. So what is your personal identity? Your personal identity includes; your name, address, date of birth, bank details and employer details. But it can also include many other things that can confirm your identity. You may not be aware that your identity has been stolen, but there are some indicators that the Information Commissioner's Office or ICO advise. These include; you have lost or have important documents stolen such as your passport or your driving license, mail from your bank or utility provider does not arrive, items that you do not recognise appear in your bank or credit card statements, you apply for state benefits but you are told you are already claiming them, you receive bills or receipts for goods or services you have not asked for, you are refused financial services, credit cards or a loan despite having a good credit rating and finally, you receive letters in the name of solicitors or debt collectors for debts that are not yours. So what can you do to reduce identity theft? The ICO recommend being aware that identity theft can happen and always being on the lookout for anything odd about your finances and identity.
- EDSQ Unit 5 LO 14.4