BRITS CONFUSED ABOUT HOW TO DETECT AND DEAL WITH ID THEFT

Millions are still failing to take action on the risk of ID theft
 

New research* from Capital One reveals that over 42 million adults** in the UK don't know how to discover if they have been a victim of ID theft, while only one in ten knows exactly what do if they suspect their ID has been stolen. Encouragingly, almost everyone surveyed (99%) was aware of the problem of ID theft. Nearly 25 million (41%) were worried it would happen to them.
 

Identity theft is on the increase in the UK. By obtaining somebody's personal details a fraudster can apply for credit cards, loans and other financial products in their name. They can also obtain mobile phone contracts, driving licences or even passports. The unpaid debts subsequently accrued are then lodged in the innocent person's name. Ultimately, this can lead to encounters with debt collectors, court actions and problems getting a mortgage or even a job.
 

The research, carried out by YouGov on behalf of Capital One, also revealed that despite such high awareness, and levels of concern, many Brits are still not taking action to ensure the security of confidential information:
 

• 16 million people take no preventative action at all against the crime
• 2.5 million throw documents such as bank statements away intact
• 5 million leave important personal information lying around "on the kitchen table"
• 4.5 million regularly carry sensitive documents in their wallets and bags when outside the home
• 3.2 million store personal information in their homes but insecurely
• 1.4 million do not shred confidential personal documents

 

Professor Martin Gill, Criminologist from Perpetuity, a division of the University of Leicester, says: "Although these figures encouragingly show an almost universal awareness about ID theft, and a high level of concern, it is worrying that people are still being blasè about storage and disposal of confidential personal documents".
 

"Young people particularly seem to be showing high levels of careless behaviour with more than half (55%) of 18-24 year olds taking no action to protect themselves against the risk of ID theft. Despite the high awareness of identity theft the research also highlights a real need for increased knowledge about how to identify and resolve the problems that result from fraudulent use of someone's identity."
 

Sanjiv Yajnik, Principal Managing Director, Capital One says: "It is concerning how many people we asked had no idea how to tell if their ID had been stolen, or what to do about it if they had unfortunately become a victim." The tell-tale signs of ID theft often include unexplained items appearing on bank and credit card statements, receipt of bills and receipts of goods or services you haven't asked for, being told you are already claiming state benefits you weren't aware of, or being refused a financial service despite having a good credit history.
 

"The best advice for preventing ID theft is to take steps to protect your personal information by redirecting your mail when you move house, keeping important documents in a safe place, and safeguarding your PIN and password details at all times. Additionally, regularly getting a copy of your personal credit file from a credit reference agency will allow you to spot applications or accounts that have been set up without your knowledge."
 

Over 80% of those researched said they would value advice and assistance if they had their ID stolen. Capital One can help its customers to protect themselves against the perils of ID theft, and to pick up the pieces if they fall victim. Its newly updated free ID theft service will provide a named adviser to provide to help at every stage of the resolution process if a cardholder discovers they have been a victim of ID Theft.
 

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Contact:

Sally Camm / Becky Paterson Capital One 0115 843 3676 / 6484

Elizabeth Bickham / Rowena Denham Fishburn Hedges 020 7893 4321

Notes to Editors:
*Research conducted by YouGov of a representative sample of 2331 GB adults between 31st May and 4th June 2007. **Based on population stats from ONS and census data
 

About Capital One:
Capital One Financial Corporation trades on the New York Stock Exchange. In 1996 Capital One launched its first overseas operation in the UK offering credit cards, savings and loan products to UK customers. The UK Operations Centre for Capital One Bank (Europe) plc is located in Nottingham, where more than 2,000 Associates are based. Capital One is a top-ten credit card issuer in both the USA and the UK, with more than four million UK customers. Capital One's subsidiaries collectively have approximately 50 million managed accounts and $142 billion in managed loans. The Bank has won numerous industry awards for its products and services as well as accolades for its consistent work within the communities in which it operates.
 

Capital One has consistently provided market-leading consumer-lending products to its customers. In the UK Capital One was among the first credit card issuers to offer a 0% introductory purchase rate, combining this with one of the lowest 'go-to' rates on the market. Capital One is authorised and regulated by the Financial Services Authority.