Which?: One in Five victims of ID fraud do not receive cash back

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Which?: One in Five victims of ID fraud do not receive cash back

Thu 25th Jun 2009

Around one in five people who find that they have been the victim of ID fraud never receive the money back that they have lost, Which? has revealed.

Figures collated by the consumer watchdog show that one in four people in Britain have fallen victim to an identity fraudster, but of these, four out of five are reimbursed afterwards.

According to the group, some victims are refused compensation if their pin has been used to access money following the theft of their credit or debit cards as the bank can argue that they were negligent towards concealing their number.

The editor of Which? Martyn Hocking said that vigilance is everything when it comes to ID theft.

He added: "Most of us know that we shouldn't write down our pin, but we should also shred bank statements, be cautious about the passwords we use and think twice before posting personal details online."

Research undertaken by Experian's ID fraud protection service CreditExpert, found that young individuals living in rented accommodation are most likely to be vulnerable to ID fraud.

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