Young, single and a prime target for fraud

Young, single renters have been identified as the biggest target for ID fraudsters by new research from CreditExpert.

The research, which aims to reveal the people most at risk of ID fraud, found that identity fraudsters across the country are turning their attention from the wealthy to lower income victims living in rented accommodation where their personal details are most vulnerable.

According to CreditExpert’s analysis, the top three groups most likely to become victims of ID fraud in the UK live in rented houses and flats in and around cities. Of these, the group most at risk are young professionals renting property in London and Glasgow. These groups are more than twice as likely to become victims of identity fraud as the average person, with a risk score of 223, compared to the national average of 100.

With a risk score of 184, the second biggest target group for ID fraudsters are young, single people and home sharers working in service industries and living in flats rented predominantly from the council or housing associations. Graduates renting in good areas while saving for a mortgage deposit are the third most likely group to become victims of ID fraud, while wealthy company directors and business owners at the pinnacle of their success make up the list of the top four groups most likely to become victims of ID fraud.

People who rent or have shared hallways are the easiest targets for mail interception, a key tactic used by fraudsters. Renters are also vulnerable because of their tendency to move more often than home owners and by not redirecting their mail they leave themselves exposed to the threat of previous address fraud.

The five most at-risk groups identified by CreditExpert’s analysis are:

1 – Young singles often in shared rented accommodation who are earning reasonable wages and are optimistic for the future.

2 – Singles in their 30s in mostly council rented flats. Unemployment is a problem but debts are usually controlled.

3 – High-flying graduates privately renting in good areas while they pay off student debts and save for a mortgage deposit.

4 – Company directors and business owners. Very wealthy individuals at the pinnacle of successful careers.

5 – Highest income earners in premium price city flats and residences.

The report also idenitifies the UK’s identity fraud hotspots – where the highest proportions of at-risk residents live.

London remains the identity fraud capital of the UK, with residents almost four times as likely to fall victim compared with the average score across the UK. With a risk score of 638, Kensington continues to be the capital’s worst identity fraud hotspot, with residents – on average – over six times more likely to fall victim compared with the UK average.

Outside London, commuter towns such as St Albans (300), Guildford (260) and Windsor (238) also have high concentrations of the most at-risk consumer types. Birmingham (171), Edinburgh (143) and Glasgow (134) join the list of the UK’s major cities where the threat of ID fraud is higher than average.

Darryl Bowman, Director of CreditExpert, said:

“Criminals are switching their focus from the wealthy to people whose details they can get hold of more easily. Because of this, each one of us needs to be aware of the dangers of ID fraud and take steps to protect our identity and stop thieves from getting access to our personal information. One thing you can do is regularly check your credit report so you can spot unfamiliar activity, such as a fraudulent loan application in your name.”

CreditExpert’s top tips for preventing identity fraud:

1. Regularly monitor your credit report.

2. Watch out for your mail.

3. Destroy documents showing your personal details before throwing them away.

4. Keep your information up to date.

5. Forward your mail if you move house.

6. Be careful who you give your information to.

(Photo by Dan Hankins.)