Experian claim online identity theft is up by 300%

UK credit-checking company Experian has released a report which claims that online identity theft is up 300% on 2010. Be aware this is identity theft, which isn’t the same as identity fraud. Identity theft is where a fraudster collects the information but doesn’t do anything with it.

Identity fraud is where the fraudster uses the information to actually commit a fraudulent offence i.e. take out a credit credit card or loan in your good name. The media still doesn’t understand the difference between theft and fraud. This is a big fail by the media. As for Experian’s report – they claimed that fraudsters exchanged 12 million pieces of personal online information in the first quarter of 2012. Identity fraud victims are normally unaware that credit cards or mobile phone contracts have been taken out in their good name. The first they know about it is when the bill arrives in the post. Read more...