Scots to lose £42.6million to online fraud

• Scots expect to lose a staggering £42.6million to online fraud, with 13% of Scots expecting to become a financial victim losing an average of £600
• Although 13% of Scots expect to lose money to online fraud in the future, the average they expect to lose is the lowest in the entire UK at just £600, compared to the UK average of £1,574.
• Over half of Scots (54%) admit to using easy to guess personal information in their secure online passwords, with 14% using their birthday, and almost one in five (18%) admitting to including their pet’s name. 
• Scots should ‘paws for thought’ with one in five admitting to using their beloved pet’s name as their supposedly secure passwords. 
• Two thirds (66%) of Scots confess to sharing personal information, passwords and memorable words publicly on social media, without realising the risk they put themselves at.
• Scots are amongst the most security conscious in the UK, with 59% saying they would change their password after a single breach had been detected, compared to a UK average of just 53%

ClearScore, the UK’s leading free credit score and credit marketplace, has launched ClearScore Protect Plus, offering round-the-clock online identity protection and fraud defence, alongside nationally representative research revealing that Brits expect to lose a staggering £15.7billion in the future due to online fraud.

With a first-to-market personalised security score, Protect Plus Cover and access to a dedicated fraud support manager if you do become a victim of fraud, ClearScore Protect Plus offers peace of mind, helping you to get ahead of fraudsters and stay ahead.

With Covid-19 restrictions beginning to ease and life beginning to feel a little more normal, fraudsters are preparing to take advantage as Britons begin planning to spend more freely in a post-lockdown era.

With the Bank of England governor Andrew Bailey predicting a post-covid spending binge, 65% of people have said that they are waiting for the Covid-19 crisis to ease before making big spending commitments.

Whilst planning their post-covid purchases, it seems people are also preparing to become the victim of an expected surge in online identity theft, with the average Brit expecting to lose an astonishing £1,574 to online fraud. With 15% anticipating losing money in the future, online fraud is predicted to cost the UK £15.7billion.

However, in spite of the large numbers of people who believe they’ll be a future victim of fraud, there is a disconnect between expectation and reality. Whilst the majority (53%) believe that they would change their password after one security breach being detected, internal data from ClearScore demonstrates that in reality, a staggering 94% of people take no action after a password breach has been flagged.

Worryingly, over half of people (55%) admit to using easy-to-guess personal information in their supposedly secure online passwords, with one in ten including their name, 9% their children’s name, 12% their birthday, and 17% including pet’s names in passwords.

With such a high proportion admitting to using easy-to-remember, but less secure, personal information in their online passwords, a staggering two-thirds (66%) confess to posting their secure personal information, including passwords and memorable words publicly on social media. Combined, these two traits make Brits a hacker’s dream. 

ClearScore Protect Plus provides round-the-clock identity protection, using advanced web scanning to find breaches of your personal data on the dark web and beyond. Searching for instances where passwords, email addresses, phone numbers and your date of birth might have been shared by fraudsters.

With daily credit report monitoring, users will receive instant alerts both when personal information or a password breach is detected, along with any upcoming changes to a credit report, so unexpected activity can be checked and verified instantly.  

ClearScore Protect Plus features include: 

• Dark web scanning for passwords, breaches and personal information
• Deep web scanning passwords, breaches and personal information including phone numbers, home addresses and date of birth
• Credit report alerts in case of any unexpected activity on your report
• Security tips and tailored actions in the event of a breach being detected
• Personalised first-to-market security score out of 1000 to help you understand your personal risk of identity fraud
• Dedicated fraud case manager  to help you get back on track step-by-step if you ever do become the victim of fraud 
• Protect Plus Cover including access to a specialist team who’ll help replace lost or stolen cards on your behalf, up to £200 towards replacing a stolen passport or driving license, and expert help to resolve cybersecurity issues
• Credit freezing as standard if you believe you’ve been the victim of fraud, meaning anyone taking credit out in your name must provide extra documentation (such as a passports or driving licence)

CEO and Co-founder of ClearScore, Justin Basini says, “Since launching ClearScore Protect in April 2020, we have helped over 2.6million people protect themselves from online fraud.

“The launch of ClearScore Protect Plus supercharges that level of protection, providing people with a complete round-the-clock support package, from identification of instances of fraud, to supporting you in improving your online security, to helping you deal with the fallout of any instances of password breaches or identity fraud.

“Having fallen victim to identity theft myself, I understand how it can impact a person’s financial and mental well-being, and ClearScore Protect Plus is here to give personal and tailored support to ensure your online security is protected, always.”

ClearScore Protect Plus costs £4.99 a month (or £49.99 a year).

For more information on ClearScore Protect Plus visit: 

www.clearscore.com/protectplus