Consumers advised to check credit profiles to avoid fraud

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Consumers advised to check credit profiles to avoid fraud

Consumers should check their credit profile regularly in order to combat fraud, the head of personal finance at Fool.co.uk has suggested.

David Kuo noted that as the credit crunch has hit companies have tightened their lending criteria, leaving some people "desperate" to get hold of credit.

As a result, instances of credit fraud could rise. Mr Kuo advised: "If you are a consumer and you haven't recently checked your credit reference, go and have a look at it just to make sure there is not anyone out there making fraudulent applications on your behalf."

Recent research from CIFAS, the UK's fraud prevention service, there has been a significant increase in the number of instances of facility takeover, whereby a fraudster impersonates the victim in order to take control of one or more of their accounts.
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