ID theft protection launched for adviser clients

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A package of identity theft protection tools has been launched by Equifax for adviser clients.

The proposition can be white-labelled and integrated into provider web portals; it can offer Equifax ID theft alerts and credit reports either as added value to enhance adviser relationship or as an extra revenue stream.

Geoff Greensmith, strategic development director at Equifax Touchstone Financial Analytics, said: "The harsh reality is that identity fraud is on the increase.

"The latest figures from the UK's Fraud Protection Service, CIFAS, show nearly a 20% rise, year on year, in identity fraud for the period of January through to May. There is no doubt that affluent individuals are more likely to be targeted by fraudsters."

He added this offering would be a way for providers to add value and differentiate themselves to advisers.

"By adding this service to their product set, they will be able to give their clients the peace of mind that personal data and identity is being safe-guarded," Greensmith said.

Alerts will include any changes in credit data and monthly ‘no news is good news' reports.

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