20% of ID theft victims not reimbursed

Whilst the majority of those falling victim to ID theft do get their money back, according to Which? 20% don’t get the full or any amount back at all from their bank.

ID theft is a growing problem and now 25% of people across Britain have been a target.

Personal information is important and needs to be protected at all times to help guard against ID fraud.

You can get your credit report to regularly check that nothing unusual is going on to indicate that your personal information has been stolen and you have become a victim of ID theft.

People who have their identity stolen should get their money back unless their bank is able to show that they haven’t taken reasonable care or have acted fraudulently.

One area that is causing some issue is the Pin associated with a debit card.

There have been cases where people have had their debit card stolen and it used to withdraw cash but banks have not refunded the money because the person is deemed to have acted negligently as the Pin was used.

Which? is concerned about this and is calling on the Financial Services Authority (FSA) to provide banks with detailed guidance on the evidence that should be provided in card fraud cases.

Martyn Hocking, editor of Which?, said ‘Identity fraud is inconvenient and stressful, and can also be costly if you’re unable to recover your losses.

Fraudsters can be extremely clever and may need just a few details to access your accounts, but you can significantly reduce the risk of fraud if you’re vigilant.

Most of us know 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.’