ID theft concerns unveiled

A significant number of people are concerned about falling victim to identity theft, new research reveals.

Public concern about being a target of identity fraud has risen as the economic downturn rumbles on, figures from Lloyds TSB indicate.

Research released by the firm shows 39 per cent of people feel at greater risk of having their UK accounts targeted by fraudsters then they did six months ago.

Meanwhile, 52 per cent of those worried about identity theft believe the onset of the financial crisis - in which rising unemployment rates have led more people towards criminal activity - has driven their fears.

Overall, more than three-quarters (76 per cent) of adults claim to be worried about identity theft, while 38 per cent of people have already been affected by such crime.

Jatin Patel, spokesperson for Lloyds TSB, states: "As technology improves, it gets easier and easier for criminals to steal our identities and during tough economic times the temptation becomes greater."

In an effort to protect themselves and their finances from being compromised by criminals, people were urged to check their bank account and credit cards - in addition to their credit report - on a regular basis for signs of any suspicious transactions.

Meanwhile, people were advised to ensure they keep sight of their plastic cards at all times, while users of social networking sites should be careful about how much personal information they divulge to others. Ensuring that nobody else knows passwords and pin numbers and shredding any paperwork containing personal and financial details before throwing away was also recommended.

Such credit best practice advice could be helpful as 57 per cent of ID theft victims questioned by the bank stated they had not done enough to protect their personal and financial details from falling into the wrong hands.

The advice follows recent research by Financial Fraud Action which revealed a 55 per cent rise in online bank account fraud in the first half of this year. Such crime resulted in total losses of £39 million, while credit card ID theft has risen 23 per cent to account for £23.9 million of the overall £232.8m lost to fraudsters.