Identity theft is one of the fastest growing criminal activities in the U.K. and costs the country an estimated £1.3billion a year. It is now more important than ever to check your credit score and monitor your credit report regularly to check for any suspicious activity. Monitoring your credit report definitely enhances card fraud detection. Most identity thieves not only steal their victim’s identity but also steal money from financial organisations by impersonating their victims and opening accounts in their name. The effects of this can wreck your credit file and have a significant impact on your life. Fraudsters usually rely on the fact that their victims will be too busy to check their credit report or realise that under the Fair Credit Reporting Act, everyone has a legal right to credit score disputing if they discover fraudulent activity or accounts that have been opened by somebody else in their name.
You may think that identity theft is something that can never happen to you. However it seems that criminals are increasingly targeting people’s identities with at least one in ten of us falling victim. Prevention is definitely better than cure in the case of identity fraud as the mess it creates can be horrendous. Don’t let it happen to you!
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