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ID theft set to soar over next five years

The need for proper online security measures and good internet practices to protect sensitive personal information has been highlighted by new figures predicting an increase in ID theft over the next five years.

New data from home insurer LV suggests that ID theft is going to double during this period, equivalent to a rise of 440,000, with 240 people a day being hit by the problem.

Some 21 million UK adults have encountered some kind of credit problem, with 29 per cent of these saying they had no idea why the issue existed, while 27 per cent blamed it on mistaken identity, according to LV's research.

John O'Roarke, managing director of LV home insurance, said: "In the last ten years we've seen a massive increase in the number of people targeted by fraudsters."

He went on to state that this illustrates "the importance of vigilance in protecting personal information and monitoring for any problems that might prove to be a 'symptom' of ID theft".

Global internet security solutions provider Unisys recently stated that the recession could push some to commit ID theft.

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