Identity theft is growing and as the popularity of social networking websites such as Facebook and My Space are increasing so is the potential for identity theft.  The more personal information you provide on these sites the easier it becomes for others to take advantage of you and your identity.

So what does it mean for me?

• Fraudsters can use the details to carry out account takeover fraud; gaining access to the victims accounts
• Fraudsters may also carry out application fraud; obtaining bank accounts, loans, credit cards or passports in the victims name, as well as other goods and services
• Identity theft can be hugely distressing and disruptive.  Fraud carried out in the victims name may damage their credit rating and reputation, taking many months to rectify

So what can you do?

• Keep all identification documents secure, especially your passport and driving licence.  Report any loss of these to the issuing authorities and your bank immediately
• Securely destroy any unwanted documents, including utility bills and bank statements
• Don’t ignore letters from solicitors or debt collection agencies regarding debts that aren’t yours, or letters and statements about bank accounts you haven’t opened.
• Regularly check your credit file to identify any unexpected changes, such as new accounts in your name.  It is especially important to do this after moving house.
• Report any suspected fraud to your bank account immediately
• Limit the amount of personal information you provide on social networking sites – do not share you address, DOB, post code, job title or information about your schedule or routine.  Remember the strangers or fraudsters may be able to view any personal details you post online in profiles, blogs and forums
• Consider using a separate email address for social networking sites.  Some sites may share information such as email addresses with other companies, leading to an increase in spam mail
• Don’t believe everything you read online.  People may post misleading information or disguise their identities and motives.
• If you think that anyone might have acquired your internet banking security details, contact your bank immediately.
• Children are especially susceptible to these threats.  Parents should teach their children about internet safety and be area of their online habits.