As the incidence of data breaches increases, almost on a daily basis, it is inevitable that identity theft will rapidly become a major problem for both consumers and businesses. The consequences of identity theft are far reaching, and it may be worth considering some form identity theft monitoring or insurance service.
Identity theft has reached epidemic levels in the UK, with incidents of this type of fraud running at almost 500 a day, according to the latest figures. During the first six months of this year there were a record 89,000 cases of identity fraud, which typically involves criminals pretending to be an individual in order to steal their money, buy items or take out a loan or car insurance in their name. The fraud prevention service Cifas, which issued the data, said these crimes were taking place almost exclusively online, and that the vast amount of personal data available on the internet and as a result of data breaches “is only making it easier for the fraudster”.