New research shows some 9% of the adult population has been a victim of identity fraud.

Extending the research from Sainsbury’s Bank to the UK population as a whole means just over four million people have had personal documents taken, and then used to steal cash, goods or services in their name,

The average financial value of this crime amongst those victims interviewed by Sainsbury’s Bank was £3,039.  However, 6% of victims said that they had suffered losses of over £10,000 as a result of identity fraud.

Donald MacLeod, credit card manager at Sainsbury’s Bank said, “Identity theft is a very serious problem and one that is getting much worse, so we all need to take greater care in protecting ourselves. This could involve having a policy in place to protect against this crime, but it should also involve taking steps to reduce the chances of ID thieves being able to steal your personal details.”

The bank reveals that there is a lot people can do to reduce the chances of falling victim to identity thieves.  For example, over the past three months it revealed that 16% of people have thrown away old bank statements but forgotten to shred them.  Twelve per cent also claim to have done this with credit card and debit card receipts.

Another way people can take care is by taking protection cover. Through PrivacyGuard®, Sainsbury’s Bank customers will receive regular credit reports and credit scores from one of the leading credit report agencies, enjoy ongoing monitoring of their credit status and up to £10,000 reimbursement if their identity is stolen. 

Donald MacLeod said, “Unfortunately having your identify stolen is often just the start of what can become a long drawn-out process as it can take many hours or even days to re-establish your financial standing.  Unlike some other identity theft products on the market, our cover offers access to an experienced Victims of Fraud team who will help the victim to resolve any fraud or irregularities.”