Identity theft is the fastest growing crime in Britain and experts have warned that many fraudulent mortgage and loan applications are not being noticed because information on the deceased isn't being supplied to credit reference agencies quickly enough. The act of stealing the identity of someone who has passed away is the biggest growth area in identity fraud. The Office of National Statistics is responsible for providing credit agencies with information from the register of deaths, but, because it isn't being done quickly enough, it means fraudsters can get loans in dead peoples names. Bereaved families can stop this by contacting lenders to inform them of the death, and by taking care when placing death notices.
Our view:
The whole finance industry needs to be much swifter in its dealings on death.