August 09 2007
Consumers distrust paper identity checks
Some 76% of consumers are unlikely to use a company in the future if it had received negative publicity regarding a sensitive breach of customer information, according to a survey by Experian. The same survey says that businesses are partly to blame for the growth of identity fraud in the UK because they continue to rely on fraud-friendly paper documents to authenticate a person's identity.
Even though 71% of companies surveyed named identity fraud as a significant challenge to their business, half of companies interviewed still rely heavily on paper when it comes to authentication - while this has more of an impact on sectors such as financial services, a third of retailers interviewed use paper documentation to verify identity.
The Experian survey found:
Identity fraud is one of the fastest growing forms of fraud around the world and costs the UK economy £1.7billion a year.
Emma Herrod
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