Much of this cover came courtesy of a firm called CPP which seems to be run by a particularly erudite boss who found his five minutes of fame the other week by describing the mis-selling allegation as ‘bollocks’.

He is clearly a lover of Shakespeare, which can be the only reason he would use such language to describe his own products.

Of course, much of the so-called identity theft insurance was (a) unnecessary and (b) probably worthless. Many people found themselves being flogged the ‘cover’ when ringing to activate a credit card, and being put through to someone acting on behalf of CPP.

I certainly had to activate a credit card in this period – courtesy of MNBA – and it was the same process which led me to have a PPI claim.

Now before anyone thinks I am a compensation vulture, let me make it clear – I got PPI compensation for having had the cover for only three days. You read that right – three days. Hence I only got £2.33.

Even being covered for three days was news to me, because I specifically said I did not want it.

And it was only cancelled when I rang to activate the credit card.

Except I did not know I had it at that point.

I am expecting the same to be true with the identity theft cover CPP. I did not ask for it, but I bet somehow, mysteriously, I have it. With a bit of luck, this time around I will get more than £2.33 and instead of having only one go on the EuroMillions, maybe I can have two!

Of course the stupidity of my PPI story is that it must have cost MBNA a lot more than £2.33 to pay a claim which I did not actually make until it encouraged me to do so. So they can tell the regulator I am a satisfied customer/complainant.

And herein lies the problem. How is it I had the cover in the first place when I did not ask for it?

No doubt the same will be true for many people with ID insurance. They will not have requested it, but they will have been given it and the premiums will have just appeared on their cards.

How many people check their statements every month? Not enough, which is how things like this slip through the cracks of many people’s finances.
That is why I say, in situations like this, it is tantamount to fraud.

Some of these firms simply relied on consumer inertia – and that is a fraud in my book.

Lawrence Gosling is editorial director of Incisive Media. His views are his own, any comments to him at lawrencegosling1@gmail.com.