ID Theft protection - is it a scam?

Boaz

Ok, this is my first post and I have come here because recently I was contacted by the normally squeaky clean(ish) building society I have been with since I was a teenager some 20 years ago. They have never let me down or made any mistakes on my accounts. Now I have to say I was shocked by the scare tactic high pressure selling techniques used by a representative trying to flog me ID theft protection for the princely sum of 79.99 GBP per year. I did I admit fly into a rant at the poor seller and told them that I would research it. My conclusion is that it seems to be a scam to replace bank charges and if this is their new attitude then I will have no alternative but to move my money elsewhere and tell them exactly why I have chosen to do this. But I am still not sure if I really need this protection or not. I never prefer to use cash for most transactions anyway.:mad:

Browntoa

you don't need it, if you are REALLy paranoid then CIFAS protective registration cost £14.10

http://www.cifas.org.uk/default.asp?edit_id=808-85

Sceptic001

If you suffer bank fraud that is not the result of your own negligence then you are entitled to be re-imbursed.

If you suffer bank fraud that is the result of your own negligence then no insurance policy would pay up.

Do the math(s)

KarenBB

My mum's bank suggested she took one of these policies out quite a few years ago and I thought she was nuts.

As sceptic says "If you suffer bank fraud that is not the result of your own negligence then you are entitled to be re-imbursed." So I can't see the point of the policy, I know they allocate you someone to deal with your claim if you have a probelm which may make a claim easier, but I really can't see the point of it. It's not going to stop fraud happening. My mum didn't need to claim, I'll have to find out if she's kept the policy on each year. I know che has CPP for her cards, but not sure if she kept this one up.

jago25_98

The thing is, this could be useful... but until I meet or speak to someone who's actually used the service and found it has worked it's best to avoid.

tednol

I get Experian 'Protect my ID' identity theft protection free of charge from my current employer and have to say that it is rather good. I allows me to check my Experian credit file at any time free of charge but the real plus is that they email and SMS me to let me know if there has been a significant change to my file, e.g. everytime someone has run a search on my name, everytime an account closes etc. Were anyone to open a credit account in my name chances are I'd hear about it within a week or two of the application being made which one would imagine would be ample time to get in contact with the lender to resolve the issue.

Would I pay £80 a year for the service? I'm not sure, I'd consider it, but £80 might be a bit steep.

James

Almost all of the systems mentioned are reactive. i.e. they only kick in when someone has already stolen your personal information and used it or attempted to use it to obtain credit cards, store cards, take out a loan or open a bank account (usually for money laundering purposes).


There is however one proactive system that is absolutely free to enrol into (click here).

The website also describes the pros and cons of the Free System.

Check it out and if it suits you (it certainly scares crooks), then go for it.

Shiela

CPP is a nightmare. Somehow, when I took out an Asda Card, I agreed to take out ID Protection. I couldn't understand how, but didn't kick up a fuss because I thought I'd ticked a box somewhere. Knowing it would run out after a year I reluctantly let it pass.

However, imagine my dismay when it was renewed without my approval. I wrote to them objecting to the renewal and deduction of the annual premium from my ASDA card. However, they wrote back saying they had send me a letter notifying me of the automatic renewal. I received no such letter or I would have been quick to object.

I have explained to them quite clearly that this policy is totally unneeded as I have ID protection in place with my bank (Barclays) and I also subscribe to the Experian ID protection with an annual policy to view reports etc (Username: shielahussain). Why on earth would I want any further protection because I would not be able to make a valid claim to each of them should the need arise. Or is CPP encouraging me to act fraudulently should the need arise?

Is anyone else out there having the same sort of trouble. They have a seperate line specifically for this type of thing, so my guess is it is happening a lot!!

Shiela

steve909

tednol wrote: »

I get Experian 'Protect my ID' identity theft protection free of charge from my current employer and have to say that it is rather good. I allows me to check my Experian credit file at any time free of charge but the real plus is that they email and SMS me to let me know if there has been a significant change to my file, e.g. everytime someone has run a search on my name, everytime an account closes etc. Were anyone to open a credit account in my name chances are I'd hear about it within a week or two of the application being made which one would imagine would be ample time to get in contact with the lender to resolve the issue.

Would I pay £80 a year for the service? I'm not sure, I'd consider it, but £80 might be a bit steep.

ok, so i looked in what you get from CPP. and for £80 i is pretty good!!!

ok so you get free access to your credit report? and they alert you if someone applies or takes out a debt in your name. then what????

CPP get the ball rolling and provide you with a case worker to help with your case in getting this debt taken off your credit report and make sure that you dont have to pay, then if it does go to court they cover all the expenses???

so, the question is what do you do if you see something on your credit report that isnt something of yours???

you will need to prove to that lender that it wasnt you? now put yourself in the lenders shoes, how many times a day do they hear that????

kangaroo100

I had my own difficulties with CPP recently. I had originally taken the policy out 3 years ago, but do not recall ever agreeing to it. The policy came up for renewal and I called to cancel it for 2 reasons. I had taken out a different polcy with another company & also the credit card that they were going to take the renewal fee from had insufficient funds available at the time.

I was therefore very annoyed to find that they went ahead and renewed their policy, also taking the payment earlier than they had originally stated in their letter, which subsequently put me over my credit limit resulting in an additional charge! I telephoned them to be told that they had a record of my call, but claim that I agreed to renew it. This was very strange as it was one of those automomatic renewal policies, where the only reason to call was to cancel!

I'm still trying to sort this out, but after 2 days they have ignored my complaint, so I have re-submitted it today.