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Consumers need to protect themselves from fraud

05/08/2008

Consumers need to be careful when communicating personal information to avoid fraud and ultimately debt, according to credit reference agency Equifax.

With an increase in phishing recently reported, consumers should review the ways they deal with financial issues and take steps to keep them private, external affairs director Neil Monroe has said.

"You really need to be very circumspect about your personal information and if you have any doubts about the organisation or where it`s going don`t send it, really," said Mr Monroe.

He added electronic ID theft and fraud are more common so people should be careful about sending details over the internet or phone.

Shredding and keeping hard copies secure is also advised.

For those with debt problems, fraud may be a particular worry as credit reports may be damaged by fraudsters, making getting loans more difficult for victims.

Mr Monroe recommended looking at credit reports once or twice a year.

According to figures from Cifas, facility takeover fraud increased 157 per cent from January to June this year.

More than 4 million fear they`ll be made redundant 16/12/2010 - According to R3`s quarterly personal debt tracker, more than 4 Consumers took on more mortgage debt in July 26/08/2010 - Consumers took on £2bn more mortgage debt than they repaid Debts called in by parents 26/08/2010 - According to research, `the bank of Mum and Dad` is Teenagers `scared of debt` 19/08/2010 - Nearly two thirds of teenagers are `scared` of debt, according