As a report by Which? magazine confirms that one in five victims of ID theft in the UK are not reimbursed in full the banking industry is starting to move against those caught up in the often complicated web of ID theft deceit. While the banks claim that customers should be more vigilant and careful with their personal information, customers claim that it is the fault of banks which stand accused of underinvestment in ID theft surveillance programs.

The truth is that at the end of the day customers, both victims and non-victims of ID theft, will pay the price through increased charges and an increased cost of borrowing. The banks are also looking to reduce their ongoing liability in this particular area, an area in which they have until now ensured that customers are not out of pocket where there has been genuine fraud. Identity theft insurance is becoming a very popular element of the UK financial markets and one which many believe will soon become a mainstream element of the insurance market.

While the internet has brought about many changes to our everyday lives it has in many ways allowed crooks and fraudsters into your "living room" to make contact with potential victims.

»» Return to Homepage

»» Full Household bills News Archive

»» Debt Problem & Need Loan?