Press Release

£3M ID FRAUD RING APPREHENDED

Equifax urges consumers to protect themselves

London, February 10th 2009 - Police in the North East of England have made eight arrests in the break-up of a £3m ID fraud ring. And whilst this is an important step in tackling this invidious crime, ID fraud expert, Equifax, is warning that cases like these are on the increase, probably as a direct consequence of the downturn in the economy. The latest figures from CIFAS*, the UK's fraud prevention service, reveal a 16% growth in fraud throughout the UK. Equifax is therefore offering consumers important advice on how to avoid becoming a victim of fraud.

"ID fraud is one of the fastest growing crimes, and the latest case shows how criminals can make millions from using innocent victims details," explains Neil Munroe, External Affairs Director, Equifax. "The gang from the North East targeted victims and properties in the South where they believed they could make more money. But there isn't any regional bias to this crime - individuals across the UK are at risk from ID fraud."

The criminals stole identities and obtained mortgages in the names of their victims who would only become aware of this once the demands for payment started to arrive. In some cases both the seller and buyer of the house were faked using stolen identities, creating a virtual sale which defrauded the lender.

"People don't realise how little information fraudsters need to be able to open accounts their name and rack up huge debts, leaving the victim to foot the bill", continued Neil Munroe. "People need to take proactive steps to protect themselves from the threat of fraud. In particular, we advise anyone who believes they may be at risk of becoming a victim of ID fraud to sign up to Equifax's free credit report to gain online access to their credit information."

The new Equifax Credit Report is available by simply logging onto www.equifax.co.uk and offers individuals access to their credit information for the first 30 days free. Designed to help individuals understand their credit file, they can see what lenders see to assess new credit applications. The Equifax Credit Report also includes expert tips and advice to help consumers take control of their finances and navigate through life's challenges. If the customer does not cancel before the end of the 30 Day Free Trial, the service will continue at £6.99 per month, giving them unlimited online access to their credit information and weekly alerts on any changes to their credit file.

EQUIFAX TIPS TO PROTECT AGAINST ID FRAUD

Apply for a copy of your credit file to look out for any unauthorised activity
Shred statements bills and direct mail which contains personal information
Redirect mail if you move
Keep your PIN secure
Always check bank statements and credit card statements carefully against receipts
Be careful of what you carry around in your handbag or wallet. Credit Card receipts, payslips, driving licence, bank statement, utility bill.these all reveal a lot of information about you and a combination of these can be a fraudsters dream
When using online banking, ensure people can't view your details and log out of the site, rather than just closing the window
No matter how much you trust your friends, work colleagues, do not give out your PIN number under any circumstances
Do not use the same PIN number for all of your cards and never write your PIN number down
Use the privacy settings on social networking sites
If you are disposing of an old computer, make sure you destroy information on the hard drive
Make sure you have the latest virus protection that ideally updates hourly and you have a Firewall

ENDS

*CIFAS 2008 Fraud Trends Report, issued January 2009

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