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A representative from Fool.co.uk has warned of the need for consumers to regularly examine their credit profile.
Consumers wishing to avoid a bad credit rating, or any other banking problems, may wish to consider the advice of David Kuo, the head of personal finance at Fool.co.uk, who believes that credit profiles should be examined on a regular basis as a way to prevent instances of fraud.
"If you are a consumer and you haven`t recently checked your credit reference, go and have a look at it just to make sure there is not anyone out there making fraudulent applications on your behalf," said Mr Kuo.
Mr Kuo has also warned that instances of fraud may become more likely as the effects of the existing credit crunch become more pronounced.
Operating on an independent basis, Fool.co.uk has a membership base of two million.