ID theft on the rise
October 26, 2009
As is to be expected in any economic downturn, the incidence of burglaries is going up. Across the UK, reports of domestic burglary as well as those taking place on commercial business premises is on the rise with 2008 witnessing the first increase in burglary in seven years. However there has been a change in what burglars are targeting. One out of every seven burglaries reported over the past year have been solely to get hold of a person’s identification.
As identification fraud grows, burglars are finding that they can get high prices by selling documents that contain personal information. ID such as driver’s licenses and passports are particularly prized as are a person’s bank details and financial documents.
Insurance company, LV calculates that last year identity theft would have cost the U.K. somewhere in the region of £150 million and that it is expected that the figure will grow. LV says that items with a person’s personal details can be sold on the black market for around £15 per item. The value for a bundle of information can go for many times this amount.
Managing director of LV Insurance, John O’Rourke urges members of the public to safeguard documents which contain personal information by keeping them separate whilst making sure they are secure.
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