The serious issue of identity theft is the topic for this blog entry. It’s something we here at www.247Moneybox.com want to ensure is minimized in our online loan service, both for our peace of mind and more importantly yours. Our decisioning engine references the leading ID verification services in the UK to ensure the applicant is exactly who they say they are.
According to the Unisys Security Index released today, which surveyed more than 8,500 people in nine countries including the UK, almost three-quarters (72%) of UK citizens believe they are more at risk from identity theft and related crimes such as credit card fraud, thanks to the arrival of the recession.
Below are some of the key extracts from an article in itpro.co.uk.
The report showed that 88% of consumers are concerned about other people obtaining and using their credit card, debit card or bank account and a further 88% are concerned about others gaining unauthorised access to or misusing their personal information.
Neil Fisher, vice president of global security solutions at Unisys, said in a statement: ‘It is very interesting to see that fraud fears have deepened as a result of the financial crisis. The current economic climate is forcing many companies to cut costs but a real or perceived drop in spending on security can have a major impact on consumer confidence.’
In the UK, consumer confidence has significantly dropped. Last year 46% of UK citizens were concerned about their ability to meet essential financial obligations, but this has now jumped to 58%, according to the research.
There has also been a rise in fears about computer security with 69% of UK respondents saying they are concerned, and 65% said they are worried about their safety and security when shopping or banking online.
‘Robust security procedures to protect against online fraud and ID theft are crucial to ensuring customer confidence, particularly with regard to online shopping and banking,’ added Fisher.
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