Identity theft affects about 900,000 Brits

The latest study has made it clear that nearly a million of British people have been exposed to poor credit due to the efforts of identity thieves.

A research conducted by life assistance company CPP revealed that about 900,000 Brits had their credit record damaged because of fraudsters. Almost 50% of respondents admitted that the fraudulent activity of criminals had resulted in money losses of about £7,000, which put them in serious budgeting difficulties.

Somewhere in the region of 48% of these losses were attributed to consumers being unable to get the best value credit cards and personal loans, 20% of the respondents had their applications for mortgages rejected on the grounds of poor credit history, and 10% lost their earnings. 5% said that they had been forced to pay for legal fees due to falling the victim to identity thieves.

Additionally, the research has revealed that on average the victims of identity fraud could repair their harmed credit history in the period of 14 months.

Nicole Sanders of CPP says that situation with identity fraud in UK is alarming and people need to be aware of the fact that criminals are out there. Last month it has been estimated by the National Fraud Authority that more than 1.8 million people suffer from identity theft every year. Fraudsters use identities of other people to get access to a huge variety of loan deals and services in the victim’s name. The best way to prevent identity theft is to regularly check one’s credit reports for dubious transactions and look after one’s personal information.


The cultural transformations that have made people accept life in debt have had a direct impact on the approach youngsters take to money matters, which could lead to negative consequences in the long run as many of the next generation would resort to IVAs to cope with serious financial issues.

When we put efforts into our work and get paid for this, we get an amazing feeling of satisfaction. Our hard hard work seems to have been remunerated financially. We go shopping and buy the items we need and the items we simply want.