Credit reference agency Equifax has made its ID monitoring product WebDetect available for free with a credit report or credit score from the company.
WebDetect, launched in early May, will alert people to unauthorised or fraudulent use of their personal information online and can monitor up to six personal telephone numbers and addresses, six bank card numbers and an individual’s national insurance number.
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Equifax has pointed to findings at the end of March from Cifas, the national fraud prevention service, that identity theft is the fraud most feared by consumers.
However, losses to the motor industry through fraud reported last year were down 7% (or £13.6m) by value. Figures from the Finance & Leasing Association for the final quarter of 2012 demonstrated conversion fraud remained the biggest worry in car finance.
Neil Munroe, external affairs director at Equifax, explained the service will "search places where fraudsters trade, including networks, chat rooms and websites worldwide. This enables it to detect stolen identity credentials, finding consumer data regardless of nationality or location."
WebDetect will cost £1.99 with other Equifax products.
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By GlobalDatarichard.brown@timetric.com
