Equifax welcomes gov't ID theft crackdown.

Financial Adviser, April, 2007

Government measures to be introduced this month will give banks and financial institutions "real teeth" in the fight against identity theft, according to the director of credit referencing agency Equifax.

Previously, a criminal act had to be committed using someone else's details, but now just possessing the information can lead to a prosecution.

The introduction of the Fraud Act will also mean that financial institutions will have a responsibility to clear up cases, where possible, instead of the police.

Neil Munroe, external affairs director of Equifax, said: "The so-called victimless crime, which last year claimed more than 50,000 victims, has finally been recognised for the distress it causes.

"And the new rules for reporting...

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