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Preventing identity theft

Identity theft is an increasingly common and worrying trend that is believed to cost the economy around £1.7bn per year*.

It is carried out by criminals who steal your personal details such as your address, card numbers and bank details to impersonate you and effectively assume your identity.

Using this they can then arrange bank loans, get a drivers license or even take out a mortgage.

More than 100,000* people fall victim to identity theft each year – but there are simple measures you can take to increase your chances of beating the fraudsters.

Keep cards safe

Never leave a credit or debit card where somebody could see it and copy the details down. If it’s not on your person, keep it in a secure place, and if possible always in the same wallet or purse.

Remember, in the age of the camera phone, even if somebody has your card for only a few seconds they can make a clear copy of your details.

Should your cards get stolen or lost, cancel them immediately.

Guard your information

When you throw away bills, bank correspondence or anything with an identifiable name and account number on it, make sure it is properly destroyed. Burn it, shred it or rip it up – but be sure that it cannot later be recovered and pieced together.

Shredders are available from most office supply stores as well as online.

Be extra careful if you live with others who have access to your mail. If necessary you can arrange to pick up post such as new bank cards or cheque books from your nearest bank or post office branch.

If you move house, ask Royal Mail to redirect post from your old address. You also need to inform your bank and companies that you deal with regularly of your new address.

Check the amount

Always be mindful of what is going on when you are paying for a purchase on your card. Keep an eye on the shop assistant and make sure they don’t take the card out of your sight.

When paying for goods via chip-and-pin, ensure nobody can see you entering your pin code. The same applies when you are withdrawing cash at an ATM.

Make sure you are aware exactly how much is being debited before you commit to payment. On a chip-and-pin card reader, you should be asked to confirm the amount prior to entering your code – read it properly – missing the extra zero on the end could be a very costly mistake.

Password protection

Passwords and pins can be difficult to remember but avoid writing them down.

If you do have to, then make sure you always keep the written codes well away from your card or computer.

Make sure all your password protected accounts are guarded by different passwords. Having one password for all your accounts makes things easier for you – but it also makes life much easier for an identity thief.

If you can’t remember a set of passwords, you may want to think about reducing the number of cards you own.

While easy to recall, birthdays and phone numbers also make weak passwords.

Study your statements

Check your statements carefully for any erroneous figures. It is also wise to regularly check your credit report, which shows you which financial organisations have accessed your details. Typically these reports will cost you a couple of pounds - see links below for further details.

If you notice anything which looks out of the ordinary, for example payments to companies with which you don’t usually deal, report it to the company concerned and then to your credit card company.