Identity theft happens when a criminal takes your personal information with the intention of committing identity fraud. “It’s collecting data for a nefarious reason,” James Jones, the head of consumer affairs at the credit reference agency Experian, says. “They then might use that information to fraudulently apply for loans, goods or services. It can also involve taking over or utilising an existing product, not necessarily opening a new one.”
Being targeted by fraudsters can be distressing, while sorting it out can be time-consuming, and the crime can have a direct impact on your personal finances – affecting your credit record and making it difficult to successfully apply for credit cards, loans or mortgages. So what can you do to try to protect your identity?
