Signs your identity has been stolen
500 days – that's how long it takes the average victim of identity theft to become aware of the crime. Watch out for these warning signs.
According to credit referencing agency Experian, the typical victim of identity theft is ignorant of the crime for approximately 500 days. After discovering the fraud, that person will spend about 300 hours trying to set the record straight.
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Being contacted by a bailiff over a mystery debt could be a clear indicator of identity theft. However, there are other less obvious warning signs.
Someone tampers with your rubbish bins
If you notice that the rubbish or recycling has been interfered with, it could suggest a criminal has been on the hunt for discarded personal and financial information.
Many of us are now savvy enough to shred documents from the bank if we no longer need them. However, we happily throw away junk mail from a catalogue company – although these documents may also contain data that could be used by fraudsters.
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The post goes missing
Despite the rise of internet banking, many of us still opt to receive a paper copy of credit card and bank statements.
If these documents fail to arrive, it may well be a cause for concern and would be wise to contact the bank or Royal Mail.
A missing credit or debit card may be even more worrying as an indicator of identity theft.
You’re unexpectedly declined for credit
Applying for credit in a victim’s name is a signature trait of identity thieves. According to fraud prevention agency CIFAS, identity fraud generates £10 million worth of income for criminals every day.
Being rejected for a new loan or credit despite a previously clean profile could be a warning sign of identity theft. In a worst-case scenario, this could mean that a person’s credit score has been damaged by a fraudster’s actions.
Bear in mind, there may be legitimate reasons for the rejection. A borrower may not meet a particular set of lending criteria – perhaps they don't come up to the minimum salary requirements, for instance.
It could be a wise move to contact the lender to determine the reason behind the rejection.
The state benefit trap
As well as credit, identity thieves may also apply for state benefits using their victim’s data.
A person may not discover their identity has been stolen until attempting to make a valid claim for benefits or receiving correspondence related to the fraudulent claim.
Criminals may use legitimate documents such as a person’s passport or National Insurance number to put in a claim for benefits.
Already aced our first credit card quiz? If you enjoyed that, it’s time to pit your wits against our latest set of mind-bending questions.
Anomalies on your credit report
Financial pundits frequently advise their readers to keep a close eye on their credit score.
However, don’t simply assume a decent score means you’re safe from identity theft. Rather than simply checking your score, take the time to look at the details contained within the report.
Any unfamiliar addresses linked to your report or incorrect financial associations could indicate suspicious activity.
**Articles featured on BeatThatQuote.com are for information purposes only and reflect the views of individual writers. Articles are not, and should not be considered as, financial advice. BeatThatQuote.com strongly encourages our readers not to rely solely on information contained within this article/our website, but to conduct their own research and seek independent advice about the financial products they purchase.**
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