The level of identity fraud prevented in the first three months of the year has soared by 10%, insights from Experian reveal.
Nearly £130 million of third-party fraud “was stopped by financial institutions in Q1 of 2025, up from £118 million compared to the same period in 2024.”
Third-party fraud is when someone’s personal information is used without their consent to “apply for financial products, such as credit cards and loans, in the victims’ name.”
When looking at financial products, there has been “a steep rise in the level of prevented current and savings accounts openings.”
Fraudsters attempt to open these accounts for a variety of reasons including using as “a vehicle to house and then move on laundered money, build trust with the provider and then apply for credit products or use the account’s overdraft facility and quickly transfer to another account.”
Prevented fraudulent savings account openings rose “by 92% and current accounts by 5% in Q1, compared to the same time a year ago.”
Today Experian is warning people to “make sure they do all they can to secure their personal information to avoid becoming a victim.”
John Webb, consumer affairs expert, Experian UK&I, said:
“Being a victim of identity fraud isn’t just distressing, it can cause problems when you come to apply for credit. Doing everything you can to protect yourself from fraudsters will put you in the best position. In addition, if a company that holds your information is the victim of a cyber-attack, you might be concerned about fraudsters getting hold of your data. If you’re worried then be cautious about emails, phone calls or texts. It’s also a good idea to check your free credit reports regularly to spot any fraudulent activity.”
The figures also reveal that banks and other financial providers are successfully “identifying more fraudulent activity thanks to increasingly sophisticated fraud prevention technology.”
AI solutions are increasingly being deployed in the battle, “while a multi-layered approach which incorporate biometric and behavioral technology is helping companies lead the fight against fraud in 2025.”
Experian UK&I is a firm focused on fraud prevention technology and has prevented “more than £9.5bn in fraudulent applications over the last five years.”
Here’s Experian’s top tips on keeping yourself safe from fraudsters:
- Don’t share too much personal information on social media, such as mother’s maiden name, home address or when you’re away. It’s important make sure your privacy settings are up to date across all platforms.
- When you move address, always re-register on the electoral roll as soon as you can. This helps ensure your details are no longer registered at your previous address. It’s a good idea to set up mail redirection for a while too.
- Make sure you have an individual unique password for each online account you have. This means fraudsters are less likely to gain access to multiple accounts.
- Ensure your home Wi-Fi has a strong password, never sign in in to password protected accounts on unsecured public Wi-Fi and make sure you have up-to-date antivirus software
- If you receive emails or text messages always be cautious about attachments, links or telephone numbers. If in doubt, visit the company website and contact them directly.
- Keep your private documents safe at home, and be careful traveling with important ID documents. Always destroy mail or documents with personal information if it’s no longer needed.
- Check your credit report, for free, on at least an annual basis to look for anything suspicious. This will show any applications for credit or new accounts. You can also monitor your free Experian Credit Score to look for any significant changes.
If you find you’ve been a victim of identity fraud, there’s also support available:
- Check your free statutory credit report, with all three credit reference agencies. You can then review all information that does not belong to you.
- Contact any relevant lenders to inform them of the fraudulent information
- Ask Experian, or a credit reference agency, to dispute the fraudulent information with all relevant companies and lenders. A notice of dispute will also be added to the fraudulent information.
- Add a password to your credit report. this is called a Password Notice of Correction, and should be unique and only known to you.
- Add self-registration details with Cifas, the UK’s fraud prevention service. A credit reference agency can sometimes do this for you.
- Contact Action Fraud, the UK’s national reporting centre for fraud and cyber crime.
As covered, Experian is a global data and technology company, “powering opportunities for people and businesses around the world.”
They help to redefine lending practices, “uncover and prevent fraud, simplify healthcare, deliver digital marketing solutions, and gain deeper insights into the automotive market, all using unique combination of data, analytics and software.”
They also assist millions of people “to realise their financial goals and help them to save time and money.”
They operate across a range of markets, “from financial services to healthcare, automotive, agrifinance, insurance, and many more industry segments.”
They invest in talented people and new advanced technologies “to unlock the power of data and to innovate.”
A FTSE 100 Index company listed “on the London Stock Exchange (EXPN), they have a team of 23,300 people across 32 countries.”
Their corporate headquarters are in Dublin, Ireland.