ProtectMyID from Experian warns of an increased risk of flatmate fraudsters
New research by ProtectMyID from Experian, the global information services company, has found that while flat sharing is a practical solution to finding accommodation in an overpriced market, it could mean that people are putting themselves at risk of ID Fraud from new flatmates. This research comes at a time when online searches for ’flat sharing’ have more than quadrupled in the past year as the cost of everyday living continues to rise*.
According to the Experian study of over 5000 victims of fraud, young people, particularly those in shared rented accommodation, living in flats with communal halls or those who move frequently are the third group most at risk from identity fraud with a risk that is over two and a half times the national average. Indeed a quarter of victims suspect renters, lodgers or flatmates of cashing in on shared mailboxes and undirected post**.
Peter Turner from Experian’s ProtectMyID commented, "Flat sharing and rental is fast becoming the best option for millions of Brits unable to provide the necessary deposits to make their first step up the property ladder. In the majority of cases this is a great option to meet new people and experience living away from home for the first time.
“However, as one of the fastest growing groups targeted by both professional and amateur fraudsters, we want new flat sharers to be more vigilant to the dangers and effects of ID fraud. By sharing your home, flatmate fraudsters have all the access they need to a vast amount of your personal information in the way of post, personal documents and photos.”
Key benefits of ProtectMyID.co.uk:
- Continuous ID protection monitoring for signs of potential fraudulent activity
- Email or text alerts to user if a change is detected
- Full details of the activity with recommendations on next steps held on a secure personal account
- Access to dedicated caseworker for one to one help and advice for victims of fraud
- Optional free fraud insurance of up to £75,000 (Provided by ARC, underwritten by AXA) to cover fraud resolution costs
- Option to apply for CIFAS Protective Registration if at risk or already a victim of fraud.
- Access to information on how to protect against the risks of becoming a victim of identity theft through the ProtectMyID ID fraud blog.
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Notes to editors:
* Research provided by Hitwise from Experian. February 2011
** Victim of Fraud Insight Report by Experian, March 2010
Experian is the leading global information services company, providing data and analytical tools to clients in more than 90 countries. The company helps businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. Experian also helps individuals to check their credit report and credit score and protect against identity theft.
Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended 31 March 2010 was $3.9 billion. Experian employs approximately 15,000 people in 40 countries and has its corporate headquarters in Dublin, Ireland, with operational headquarters in Nottingham, UK; Costa Mesa, California; and São Paulo, Brazil.
For more information and statistics on identity fraud or to speak to an Experian spokesperson please contact:
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