ID fraud costs rise to £1.7bn, says home office by Finance News Bulletin

Published: 18/05/07

The figure is a bleak increase on the government's previous £13 billion estimate of the price of ID fraud in the UK three years agoThe figure is equivalent to a £35 per being cost, Home Office minister Andy Burnham told the BBC's nowadays programmeID fraudsters typically compare credit cards and other personal information to gain access to store accounts or create false documents for employ in crime

The government has previously called on bank's to create more thorough checks on background informationFinance experts recommend that all individual documents should be shredded before being thrown out, and that people should employ caution when using internet bankingMr Burnham supposed that the figures bolstered the government's container for compulsory national ID cards, which he claimed would be "a main breakthrough" in security"We have all kinds of stand-in documents being called upon as individuality documents - delivery certificates, utility bills," he said

"The truth is these do not prove individuality"All new applications for passports will now require an meeting, he added, which will further cut down on opportunities for ID fraudMoneyExpert incomplete is authorised and regulated by the Financial Services power (FSA Registration No 301654)

The Financial Services Authority does not control some forms of mortgage contract, credit cards, individual loans, current accounts and deposit

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