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One in five identity theft victims remain out of pocket

Despite the fact that the UK banking code makes clear that anybody who is a victim of identity fraud should get their money back, unless it can be proven they acted fraudulently or with undue care, it appears that one in five identity theft victims in the UK are not reimbursed in full by the relevant financial institutions.

Identity theft is becoming more and more of a problem in the UK and across the world with so many different ways and means of obtaining specific details about any one person. It is vital that we all take care when being asked about our personal details and ensure that any potentially confidential documentation is shredded before it is binned. Despite the fact that many people believe "it will never happen to them" this is by far and away the highest growth area of fraudulent activity across the world.

The situation is made even more difficult by the fact that many people who are currently the victims of ID theft have no idea what is being applied for in their name and their credit situation. Many people only become aware of fraudulent activity using their name and their personal details well after the event has happened and ultimately it can prove very difficult to catch the culprits.

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