The Money Stop

A Tory Party MP has claimed that banks in the UK are far too laid back when it comes to the problems of identity theft – a problem that is growing in the UK and has become a major concern in many areas. According to MP Nigel Evans, who is the Tory chairman of the All-Party Parliamentary Group on identity fraud, banks in the UK are ‘dismissive’ and ‘blasé’ when it comes to ID fraud. As part of his claim, Mr. Evans questioned two financial bodies, APACS and the British Bankers’ Association.

According to the MP: ‘The BBA and Apacs seem to take a blasé and sometimes dismissive approach to identity theft. We believe the true scale and cost is far greater than stated. The banks make ever increasing and obscene profits. It is time they used some to protect consumers and to make people aware of protecting themselves against identity theft.’

A variety of consumer watchdog groups have agreed with Mr Evans with regards to the attitudes taken by some financial bodies and banks when it comes to the serious problem of identity theft, and many are now concerned that fraudsters could take advantage of the lack of interest shown by financial bodies in relation to ID theft in order to gain details about customers and use these details fraudulently.

One watchdog spokesperson said: ‘The banks could do more to protect consumers against the real threat of identity theft and fraud, including monitoring suspicious activity.’

A Barclays spokesperson responded: ‘We take identity theft seriously. We work closely with Apacs and issue warnings. We have systems to detect fraud. If there have been problems, they will be isolated cases.’

A number of banks have already been pulled up by financial regulators recently after being found guilty of dumping customers account details outside in skips and rubbish bags giving ID thieves easy access to details.

Tom Smith
25th April 2007

Related Posts

What does the latest ruling in the High Court test case into bank charges mean?

The presiding judge in the ongoing High Court test case in to banking overdraft charges has recently made an announcement that has pleased the banking industry at a time when many are relieved to finally

Many banks get all clear over bank charges

Following recent hearings in the next stage of the overdraft bank charge High Court case, many of the UK's banks have received a clean bill of health from the presiding judge, who has said that

Banks warned by judge over unreasonable behaviour

A judge in the UK has issued a warning to banks in relation to unreasonable behaviour in cases where consumers try to claim back charges that have been deemed unlawful and unfair. Many consumers in

Check your garden is protected against theft

Although the British summertime is a pleasant period for green fingered people and garden lovers, it is also a time that can increase the risk of theft from outside your actual house – from your

Insurers expect surge in DIY claims

The May Day Bank Holiday is expected to have led to a surge in insurance claims as the UK went DIY crazy.Bank Holidays are traditionally a time when homeowners decide to carry out some work

Bank charge court claims need to be watertight

Experts have warned that consumers that are trying to reclaim bank charges from their banks through the courts need to make sure that the case they are putting forward is solid and watertight in order

Banks have paid out £200 million this year

According to the latest statistics banks in the UK have already paid out over £200 million this year in the form of repaid bank charges to customers that have made claims for any charged imposed

Are UK bank services the best?

According to a report from on economic consultancy, consumers in the UK receive far better and cheaper banking services than practically any other developed country. The report comes from Oxera, and claims that when it