Press Release

NOT JUST FOR THE KIDS

Equifax Warns of Fraud Risks from Online Networking Sites for Over 50s

It is estimated that 28 million people are registered with Facebook and while social networking is seen as a Generation Y craze, it seems baby boomers are getting in on the act too. And leading instant online credit information provider, Equifax, is warning third agers to be vigilant when online and ensure they protect their personal information.

A recent survey conducted by Equifax* revealed that social networkers over 50 are not making the most of privacy settings, with 21% of respondents in this age group confessing they do not take steps to hide personal information from strangers. Whilst this is worrying, when compared to younger generations, the survey showed that over 50s are not as casual with their personal information, with 31% of users in their 20s not making use of privacy settings.

However, the survey also revealed that of those third agers using social networking sites, 90% have included their full name, 63% an email address and 27% their date of birth. In addition 36% have included work information and 50% personal photographs. Shockingly, 18% of over 50s also admitted to including their address on social networking sites, with 13% making the job for the ID fraudsters even easier by providing their postcode too!

While the age old assumption may be that baby boomers are not tech savvy and not comfortable with the web, the Equifax survey has revealed another reason for not logging on. 20% of respondents who do not have a social networking page give a fear of leaving themselves vulnerable to fraud as the reason.

"The craze for social networking is a fraudsters dream if people aren't careful", claims Neil Munroe, External Affairs Director for Equifax, "So it's a worry to see users leaving such personal information out there. There does, however, seem to be a bit more caution from the over 50s when it comes to how they use social networking sites. 83% said they would not accept a friend request from a stranger, which is positive news.

"It is imperative that consumers protect their identity at all times - but consumers can still make the most of what social networking has to offer, ensuring they don't supply too much information and making the most of privacy settings is a step in the right direction"

*Survey of 739 Equifax customers August 2007

April 2008

For further press information please contact: Eli Puzey, Louise Fowler, Cecile Stearn or Wendy Harrison at HSL on 020 8977 9132 / Fax: 020 8977 5200 or Email: elinor@harrisonsadler.com