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Identity fraud warning for UK businesses
Feb 2 2009, 10:48 AM
The Association of Chief Police Officers (ACPO) has warned businesses to be on the guard against identity fraud.
With the current economic malaise making its impact, the police have recorded a rise in data theft and report £20 billion lost by businesses to identity fraud every year.
Invoices and other documentation containing identity verification details are being thrown away by businesses in a manner that is not secure.
Some businesses, however, are taking appropriate action as Jim Stewart of Lawprint explained: "Recently we've seen a huge increase in shredder sales as companies realise that taking chances, even small ones like outsourcing documents for destruction, can leave them wide open to exploitation."
He added that the company has seen a 30% increase in sales of shredders in the last twelve months and calculates there has been a 66% increase in identity fraud during the same period.
According to research conducted for National Identity Fraud Prevention Week, half of households in the UK throw away documentation that can be used by identity fraudsters.
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