loan fraud

lfc18921

apologies if this is the wrong section but i'm in need of some geenral advice on loan fraud and credit card fraud, as in folk setting up loans and credit cards in my name through hacking or some other nefarious means. Tried a search on the forums and couldn't find anything.

Does anyone have a good source of info on how to prevent such things occurring and how to protect yourself? ALready using credit expert with experian but I was hoping to get alittle more info on this matter if possible. Thank you

ReadingTim

Reading the identity protection tips on the Experian website is probably more useful than paying for the product itself...

lfc18921

thanks thats a good start. it's a bit of a minefield as you hear all sorts of stories as to just what can and cant be used to rip you off. you'd think it wasn't that easy to clone an identity and start opening all sorts of accounts etc. Surely it can't as easy as just name address and DOB to open a credit card in someone's name or to take a loan out?

Candyapple

lfc18921 wrote: »

thanks thats a good start. it's a bit of a minefield as you hear all sorts of stories as to just what can and cant be used to rip you off. you'd think it wasn't that easy to clone an identity and start opening all sorts of accounts etc. Surely it can't as easy as just name address and DOB to open a credit card in someone's name or to take a loan out?

It isn't. They would have to put down employment details, how long you have lived at address, any previous addresses you've lived at, annual salary, bank account details etc.

If you are really paranoid about it, take out a CIFAS protective registration: https://www.cifas.org.uk/pr_for_individuals

Stop paying for Credit Expert as it's a waste of your money. Instead sign up for free with Noddle (Call Credit) and ClearScore (Equifax) and if just pay the £2 for a statutory report from Experian.

lfc18921

thanks for the advice. really appreciated

meer53

Despite what you read, it's not a common occurrence. Just be vigilant and check your accounts and statements/credit file regularly. Although in over 40 years banking, i've never checked my credit file, no-one has ever opened anything in my name. I had fraud on a credit card once years ago but was refunded immediately.