The Facts

Why employees don't trust companies to protect their identity

Identity fraud is a real and serious threat to all of us today, especially if we don't take steps to protect our identities. It is a crime that affects businesses as well as individuals and in today's climate, none of us can afford the financial or reputational losses which identity fraud can bring.

Should you or your company be worried about identity fraud? The simple answer is yes but if you need a little convincing, have a look at the facts below but don't panic – this site is designed to provide you with the practical tips and advice you need to help you minimise the risk of identity fraud.

Facts for Businesses

Shockingly, only 64% of businesses have put in place a clear policy on how to handle documents with sensitive information – which no doubt goes some way to explaining why nearly one-third (32%) of employees admit to always throwing sensitive documents directly into the bin!
The 97% of employees are therefore justified in their beliefs that their company does not completely protects customers' identities; furthermore, 64% of employees believe that bins are a bigger risk to customer details than computer systems or document theft.
Overall, 71% of UK employees think their companies should do more to ensure confidential documents are handled responsibly - and the UK is not alone. 66% of German, 70% of Belgian, 61% of Dutch and 85% of Irish employees agree that more should be done.
According to the NFA, when it comes to looking at the impact of fraud, 62% of businesses fear consequential financial loss, while 43% worry about the effect fraud could have on their reputation.
Identity fraud costs the UK economy over £1.2 billion annually – but a breach can have even more lasting consequences to a business' reputation, which companies can ill afford in hyper-competitive recession conditions. Clearly, businesses have a significant role to play in helping to protect themselves, their employees and their customers from identity fraud.
40% of businesses risk their employees and clients' identities by throwing away information on their customers which includes home addresses, phone numbers and photocopies of passports - all of which can be used by a criminal to steal a person's identity (survey commissioned by Fellowes).
29% of European employees say their company does not have a comprehensive ID Fraud policy.

Facts for Individuals

The latest figures from CIFAS, the UK's Fraud Prevention Service, show that nearly 60,000 UK residents have fallen victim so far this year - a 36% increase when compared with the first nine months of 2008! The figures speak for themselves –the threat of identity fraud is real and current - yet people continue to ignore the advice that could keep their identity, their finances and their reputation safe.
44% of Britons STILL DON'T shred documents containing sensitive information before placing them in the bin.
Only 54% of UK residents routinely check financial statements – and just 45% follow-up on missing post.
69% report lost or stolen documents – a comparatively good statistic, it could be argued. But it's not good enough!
A bin raiding survey commissioned by Fellowes for National Identity Fraud Prevention Week showed that an alarming 79% of household waste contained at least one or more items which could assist fraudsters in stealing an identity.
81% of the British public are concerned about becoming a victim of identity theft, according to a Populus Poll carried out on behalf of Fellowes. The survey also showed that identity theft was of greater concern than other crimes like burglary, mugging and pick-pocketing.
Even more worryingly, the survey also revealed that almost half of all households threw away everything a potential fraudster would need to steal a person's identity.
22% of Britons access bank details at work or in internet cafes, which may be risky due to spyware, which is software that records your keystrokes as you log on to your bank. This will then enable others to gain access to your account.
Research from credit reference agency Experian reveals that on average it takes 467 days to discover that you are a victim of identity fraud. By managing your personal information carefully, you can substantially reduce the likelihood of becoming a victim of identity fraud.