Identity fraud is an issue that has become increasingly prevalent in recent years. It costs the UK economy £1.7 billion and can have a huge effect on your business.
What is identity fraud?
Identity fraud is the fraudulent use of confidential or personal information that has been stolen from an individual or business. Fraudsters will use this data for many purposes including setting up credit cards, bank accounts or credit with suppliers using your business' or your clients' details.
How will it affect my business?
If confidential information is stolen from you, not only your business, but the personal details of your customers and suppliers can also be put at risk.
The consequences of identity fraud are potentially huge - financial risk, loss of reputation and loss of customer confidence. In addition, there is the time and inconvenience involved in contacting the authorities and sorting out paperwork once a security breach has occurred.
Visit the BSIA website for more information and advice on the Prevent ID Fraud campaign.