Winter 2006
The risks of identity fraud have been
starkly highlighted in the media recently. In particular, the
problems some UK banks have experienced with confidential
information getting into the wrong hands have raised a number
of issues on the security of information that is now held on
us.
Identity fraud, or theft, is where
criminals obtain your personal details and then use them to open
bank accounts or acquire credit cards, loans and even documents
such as passports and driving licences in your name. Many people do
not realise that their identity has been stolen until they
experience difficulties applying for loans, credit cards or
mortgages.
Recently released figures suggest that
identity fraud is now one of Britain’s fastest growing crimes and
costs the United Kingdom an estimated £1.7 billion every year. The
problem is by no means exclusive to the UK and there are a number
of simple steps we can take to protect ourselves.
What are we doing to tackle the
problem?
We go to great lengths to establish the
identity of our customers at the account opening stage, verifying
both the client’s name and address. We also follow stringent
procedures to ensure that no client information is revealed to any
person other than those parties authorised on the account, and we
also obtain verification of client instructions wherever
possible.
On the issue of confidentiality within the bank, we maintain a
clear desk policy throughout the company so no print outs or papers
containing client information are left on desks overnight. In
addition, all confidential waste is disposed of securely on a daily
basis and shredded by specialist contractors. A regular audit is
undertaken to ensure the highest level of security is
maintained.
What can you do to protect yourself?
The problem may be growing but there are a
number of simple steps you can take to protect yourself:
- NEVER write your account password or personal identification
numbers (PINs) on any documentation as they could be seen or
obtained by third parties. If you receive any forms requesting
this information, please call us to check validity.
- If you are unsure as to the validity of correspondence
received, call the bank before responding.
- Never provide any credit card, bank or other confidential
information to anyone by telephone, especially if they call you,
UNLESS you can positively verify that the caller is genuine.
If you are in doubt, offer to call them back.
- Do not carry your utility bills, passport or other identity
documents except when necessary.
- Always retain your credit card receipts and reconcile your bank
statements and credit card statements as soon as possible after
receiving them. If you have a Fairbairn Private Bank Gold Visa
Card, please notify us if there are any purchases that you did not
make.
- If you make an application for credit or insurance by
telephone, take care that you are not overheard.
- Memorise your passwords and PINs. Do not write them
down.
- When you are using cash machines make sure that nobody can see
you input your PIN.
- Tear or shred personal documentation such as; credit offers,
credit card receipts, bank statements, telephone bills and utility
bills, into small pieces before disposing of them.
- If you move house, make sure that you put a mail redirection in
place for at least the first year afterwards.
- If you have not received mail that you are expecting, contact
the Post Office immediately.
- Consider ordering a copy of your personal credit file once a
year from one of the major credit reference agencies. Study the
report for any suspicious activity and report any entries you do
not recognise.
- Report lost or stolen passports, driving licences, cheques or
credit cards to the issuers immediately. Keep a note of the
emergency numbers you should call.
If you have any concerns regarding the above
or believe that you may be the victim of identity theft, please
contact us immediately.