Young renters have highest risk of identity fraud
05/05/2015
People who are in rented accommodation face a much higher risk of having their identity stolen, according to credit reference agency Experian.
Tenant’s details usually work out a lot easier to steal, thanks to shared hallways and easily accessible rental properties. People living in rented accommodation are also more likely to use mobile phone and online services more often, and as a result their personal information is more easily accessible for thieves to find.
Digital savvy young adults are increasingly being targeted by identity thieves, according to fraud prevention service Cifas. They also advised that the hotspots for identity fraud are London, Leicester, Birmingham, Manchester, Leeds and Glasgow.
Young tenants are victims of one in six fraud identity cases. Wealthy couples were next on the list of victims, with this group particularly targeted in card and loan fraud, Experian said. Older people living in relatively inexpensive homes with the mortgage paid in full are least likely to be targeted.
Experian's findings are based on information from fraud prevention system National Hunter, which Experian operates on behalf of members. It enables financial institutions to cross-match applications against more than 100 million previous application records to weed out potential frauds.
"[The findings] highlight the need for people to think about how they protect their personal information both on and off line," said Nick Mothershaw, of Experian.
Need financial Advice?
If you have any personal finance questions related to this news article, then please contact our financial advisers. You can get in touch by asking a question online, calling us on 0800 092 1245, or by arranging a visit.
Share this..
Related stories
Nationwide predicts another interest rate rise
Despite February's interest rate level not having risen, financial experts have predicted that homeowners could still see an increase very soon.Economists at Nationwide building society have forecast that the bank will increase the interest rate in order to bring it in line with house price inflation. Nationwide figures show that the average house price is has increased to £174,706 - a rise of £...
Read MoreBe careful of that last minute chase to save stamp duty costs
The end of the year sees the UK governments stand duty reduction come to an end with properties valued between £125,000 and £175,000 attracting a 1% stamp duty charge from 1 January 2010. Currently the UK government has exempted property purchases within this specific range in an attempt to try and inject some confidence and interest into the UK housing market.
While there is no d...
So how is the UK property market actually performing?
A report today by the Halifax claims that UK house prices increased by 0.6% in July, contradicting last month's report from the company which showed a 0.6% fall in June, which would appear to be at odds with the vast majority of reports issued over the last week. It is proving ever more difficult to forecast the short-term direction of the UK property market at a time when investors, the authoriti...
Read MoreProperty investment hit by rate hikes
Three interest rate rises in five months have shaken confidence in property investment, according to insurance provider Standard Life.Its latest savings and investment index shows that investors' enthusiasm in property for both buy-to-let and long-term savings purposes has been dampened by the Bank of England's recent rate hikes.The Bank's monetary policy committee voted to raise rates in August a...
Read MoreShopping Centre Landlords Are Struggling
Over the last decade there can be few investments which have given the same returns as shopping centres as well as a level of security which few could ever dream of. However, the economic turmoil in the UK is spreading to the high street, with a slump in June sales, and many shopping centre landlords are beginning to feel the heat.
As more and more retailers struggle, the amount of...