Equifax survey reveals startling data about identity theft, and Experian launches fraud detection.

Survey results of 1,000 Equifax credit report customers:

27% of adults surveyed by Equifax in September 2006 said they have been a victim of ID or credit card fraud

41-50 year olds are most at risk, with 27% admitting to being victims of ID fraud

Over 60s are least at risk at 11%

7% of ID fraud victims said their details had been obtained by fraudsters through bin-raiding; 31% said mail interception or mail sent to an old address was the cause

87% of respondents said they are concerned, very or fairly concerned that they may fall victim to ID theft with 30 to 40 year olds the most concerned about the threat of fraud

22% of those who had been a victim of ID fraud said it had taken over 200 hours to deal with banks, credit card companies and other lenders in order to get details corrected.

====================
To check for identity theft or fraud, order your free credit report copy online.
====================

Experian Group Limited launched the HunterSM fraud detection product in the Americas. Hunter detects fraud at the application stage using a variety of rules-based logic and linkage technology to provide the best defense against fraud.

Hunter leverages application data to track, link and manage fraud detection. Hunter has the flexibility to incorporate shared and third-party data to further build up the defense against fraudulent mortgage applications. Through validation, cross-referencing and a Web-based case management system, Hunter creates a virtual web of defense to prevent fraudsters from becoming customers. Hunter provides a comprehensive defense against fraudsters, allowing decisions to be made faster, mortgages approved quicker and revenues recognized sooner.

In a Hunter scenario, an application is screened for anomalies according to a customer-specific rules palette. Hunter uses logic-based algorithms to check for inconsistencies against previous applications within an organization, and potentially, information and fraud outcomes shared across institutions. The logic and cross-referencing can detect specific fraud types such as fraudulent loans attributed and linked to specific brokers and appraisers; as well as individual data manipulation and fraud rings. This information is then compiled within the Hunter case management system, which streamlines the workflow associated with review, investigation and recording of the outcomes.