AOL's ID Shield takes off

A scheme to help you protect your credit rating, even if your identity is stolen, has had 20,000 sign-ups in its first month. For £7 per month, you can access your personal credit reports and get insurance cover should your identity be compromised. All new customers signing up will get their first three months for the price of one. Sorab Shroff at AOL said: “Identity theft is one of the UK's fastest rising crimes; not only is it extremely invasive but it can take up to 300 hours for a person to restore their stolen credit.” Online credit card fraud has been on the increase recently, according to research from the Association of Payment Clearing Services. Though overall credit card fraud is down after the introduction of chip-and-PIN payment systems, fraud where the card is not present - CNP fraud - totalled £95.3m in the UK last year. Banking fraud also rose at a rate of 55 per cent year-on-year, leading one bank to introduce an anti-fraud device that it plans to distribute to all of its onlinebanking customers. http://www.aol.co.uk/

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