Business people, company directors and the elite are fast becoming the ideal candidates for identity fraud as many unwittingly face debt problems for the first time.
Experian Credit Bureau reported that in 2007 they received over 3157 calls to their helpline from those at the wealthier end of the bracket. The companies most hit by credit card fraud are mail order catalogues and credit and store card issuers.
The majority of identity fraud is focused around the more upmarket areas of London and in most cases, victims did not realise that their identity had been stolen until they were approached by a financial service company seeking debt repayment.
How do they do it?
Individuals likely to become victims of identity fraud are those who splash their cash in fancy restaurants or hotels. It is easier to retrieve personal information from these companies rather than a bank. A fraudster can also obtain personal details by redirecting someone’s post to a forwarding address.
Phishing is another common way for a fraudster to receive personal account details as emails are sent out which link to fake websites such as online banks, to con people into disclosing their bank account numbers.
Identity theft can not only leave the victim to face unprecedented credit card debt but could also put an individual behind bars as some have also been accused of crimes that they never committed with identity thieves using their name and address as a decoy.