Experian launches CreditLock to give Brits an extra layer of protection against identity fraud

UK, 12th January 2023: Experian has today launched CreditLock, a new feature that will enable customers to lock their Experian Credit Report at the touch of a button. The launch comes following data that shows 1 in 4 UK adults have fallen victim to fraud, with 75% of UK adults having been targeted, highlighting the scale of the problem in the UK.1

CreditLock allows CreditExpert and Identity Plus customers to ‘lock’ or ‘unlock’ their Experian Credit Report using a toggle switch in the app or online.2 Certain high-risk credit applications (such as a loan, mortgage or credit card) will be blocked by a ‘locked’ report.3

The report can be instantly ‘unlocked’ using the same toggle either in the app or online. This means it is instantly accessible if the consumer wishes to make a genuine application for credit.

Using real-time alerts, the feature will also let customers know about any new credit searches in their name, and if it has stopped any fraudulent applications on their behalf.

A fraudulent application blocked by CreditLock will have no impact on a person’s credit score.

Jayne Sankoh-Beacom, Head of Product Management at Experian said: “With the cost of living continuing to increase, and fraud statistics on the rise, it’s more important than ever for people to protect their Experian Credit Scores. The addition of CreditLock enables our customers to better protect themselves against possible identity theft.

“Our goal is to create products that help improve people’s financial wellbeing and give them more control over their finances. With this new feature we can now give our customers that extra layer of protection against identity fraud.”


Note to Editors:

[1] According to research by Walnut Unlimited commissioned by Experian in April 2022 and the Citizens Advice bureau.

[2] CreditExpert, which helps people improve and understand their credit scores is available for £14.99 a month, whilst Identity Plus which gives people enhanced fraud support is available for £6.99 a month. For both products eligible new customers can have a 30-day free trial.

[3] CreditLock will only stop certain applications. Utilities and insurance applications will not be blocked by CreditLock, as well as any applications that go through alternative checking agencies.

Media contacts:

Eliza Odire-Boadi, Consumer PR Manager, Experian UK&I

Tel: 07816192572 / Email: eliza.odire-boadi@experian.com 

About Experian

Experian is the world’s leading global information services company. During life’s big moments – from buying a home or a car, to sending a child to college, to growing a business by connecting with new customers – we empower consumers and our clients to manage their data with confidence. We help individuals to take financial control and access financial services, businesses to make smarter decisions and thrive, lenders to lend more responsibly, and organisations to prevent identity fraud and crime.

We have 21,700 people operating across 30 countries and every day we’re investing in new technologies, talented people, and innovation to help all our clients maximise every opportunity. We are listed on the London Stock Exchange (EXPN) and are a constituent of the FTSE 100 Index.

Learn more at www.experianplc.com or visit our global content hub at our global news blog for the latest news and insights from the Group.