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Keep an eye on credit reports, consumers warned

Consumers should keep an eye on their credit report if they are concerned about identity fraud, it has been suggested.

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11 December 2008

Keep an eye on credit reports, consumers warned

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In a statement, CreditExpert explains social networking sites such as MySpace and Facebook are a "magnet" for identity thieves looking for innovative ways to source information, such as date of birth and location of residence, from their potential victims.

The credit monitoring service adds: "In addition to skimming accounts, thieves can use this stolen credit information to set up new lines of credit, which take - on average - 18 months to spot."

According to CreditExpert, people most targeted by thieves are higher earners between the ages of 26 and 45.

The organisation's comments follow reports that the Koobface virus - which prompts users to follow links and download files which are actually the malware - has now spread to the San Francisco-based Bebo social networking and blogging site.

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Credit Cards	0% Balance Transfers	0% Purchases	APR Representative (Variable)
	Tesco ClubCard Credit Card
	9 months	15 months	16.9^%
16.9% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.9% p.a(variable).
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16.8% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.8% p.a(variable).
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	22 months	3 months	17.5^%
17.5% APR representative (variable). Based on a credit limit of 1200 and purchase rate 17.5% p.a(variable).
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