Press Relations Executive, Automotive & Insurance
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Directors of larger dealerships at significant risk of identity theft, warns Experian
Nottingham, UK, 30 May 2008 - Directors of commercial companies with more than 50 employees are almost five-and-a-half times more likely to become victims of identity fraud than the average UK resident, according to Experian®, the global information services company. Compared to the national average, directors of smaller companies are almost two-and-a-half times more likely to become identity fraud victims.
Experian’s most insightful analysis to date into the growing number of identity fraud victims has revealed that company directors are increasingly becoming the prime targets for professional identity fraudsters. The analysis is based on over 10,000 identity fraud cases reported to Experian, which has enabled the company to produce its most accurate identity fraud propensity model ever to help companies combat fraud.
Kirk Fletcher, Managing Director of Experian’s Automotive, division, said: “This latest analysis continues to underline the fact that anyone is susceptible to identity fraud, with the highest earners being at particular risk. Directors at dealer groups are just as likely to be targeted as are directors of any other business.
“The automotive industry is used to dealing in a risk environment and the majority of dealers have processes in place to check the identity of the vehicles they are trading. However, personal identity theft could start affecting automotive businesses more drastically. In addition to the personal loss suffered by the individuals, when they have to take time off work in order to deal with the issue, it also ultimately costs the business too.”
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About Experian’s Automotive division
Experian's Automotive division provides powerful data insight to organisations within the automotive industry, including manufacturers, motor retailers, motor finance companies and insurance providers. It also works with carefully selected partners to deliver information direct to consumers.
Experian’s risk management products provide clients with an independent assessment of vehicles, prospective business partners and customers and potential and existing employees. Powerful customer insight also enables these clients to accurately target the hottest customers and prospects using the most cost effective channels.
Experian’s Automotive division works with over 80 per cent of the AM 100 and Motor Trader Top 200 enabling them to manage the risks and maximise the opportunities that face their businesses every day.