Specialist over-50s insurer RIAS has announced it will be providing a new free service to help policyholders who have been a victim of identity theft.
The crime is one of the fastest-growing in the UK and affects over 100,000 every year, costing the economy an estimated £1.7 billion.
The most common method used by ID thieves is taking out loans using another person's details and running up massive debts in their name.
"If your identity is stolen, you may have difficulty accessing your bank account and spend days sorting out [your] finances and official documents until the matter is resolved," said Janet Connor, managing director of RIAS.
A case of identity theft can result in between 60 and 400 hours of work to rebuild a person's finances, including resurrecting their credit rating, clearing their name with current creditors, and re-establishing their true debts and financial records.
"Our ID theft assistance service will not only help our customers pinpoint the illegal activity, but will also help recover a stolen identity," Ms Connor added, noting that the service offered by RIAS would be of great comfort to many of its customers.To read more about home insurance policies, click here.
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