In UK, Financial Toll of Identity Theft Approaches £2bn
Recently released numbers reported by BBC News illuminate the growing problem of identity theft in Europe. According to the National Fraud Authority (NFA,) the financial cost of identity theft in the UK topped £1.9bn in just the past year. With 1.8 million victims in the U.K. alone, clearly identity theft is a global issue.
NFA data shows not only the financial loss, but also the fraud committed by these thieves. Using stolen personal information, the thieves were able to dodge arrests and convictions, obtain state benefits, and open bank accounts, among many other activities.
The financial cost of identity theft includes not only the money stolen from the victims, but also the cost of fighting such thefts. The NFA has estimated that over the past year, businesses in the U.K. spent more than £800m in efforts to combat identity fraud.
Apparently the problem of identity theft is not going away. Do your own research on the various identity theft services and get protected today.
Category: Identity Theft Blog, News
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