You are here: Home - Saving & Banking - News -

Better protection from ID theft demanded

0
Written by:
29/08/2006

The National Consumer Council (NCC) has called for UK data protection rules to be toughened up in the face of rising ID theft.

It is estimated that identity crime affects 100,000 people in the country every year and costs the UK economy £1.7bn. Criminals most usually take out loans in other people’s names and then run up huge debts.

“This is a massive problem and it is getting worse all the time, although the banks don’t like publicity about it,” said financial expert Martin Cunningham. “The NCC is right to be concerned.

“There is currently no requirement on the part of financial providers to reveal if their database has been hacked, for example. This must change if we are serious about dealing with the problem.”
 
 

Tagged:

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
Motorists can save over £100 on breakdown cover

Motorists could save up to 76 per cent on comprehensive car breakdown cover by shopping around, according moneysupermarket.com.

Close