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News

Economic climate increases fears of identity theft

28 October 2009

Annual research from Lloyds TSB has revealed that 76% of adults are currently worried about identity theft and 39% feel more at risk now than they did six months ago, with the recession playing a major contributing factor.

Over half (52%) of those concerned about identity theft believe that the recession has increased the risk as rising unemployment drives more people towards criminal activity and identity theft.

According to the bank's research team, 57% of people said that social networking sites have made it easier to steal personal details - a 10% increase on those with the same worries last year.

Jatin Patel, spokesperson for Lloyds TSB said that, as technology improves, it gets easier and easier for criminals to steal people's identities and during tough economic times the temptation of identity theft becomes greater.

"Protecting ourselves by shredding documents and protecting passwords is a good start, but having someone else keep an eye on your ID offers extra peace of mind", he said.

According to Patel, researchers found that that as many as 38% of people in the UK have experienced identity fraud, with almost half of those (18%) having been victims of identity theft personally.

However, said the bank, 57% of those surveyed admitted that they have not done enough to protect themselves from identity theft and 25% don't know how.

 

This article is featured in:
Data Loss • Identity and Access Management

 

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