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Credit reference agency Equifax has recently released its research into the implications of Smartphone Theft on Identity Fraud.

The findings of the reasearch are very interesting as they show how cavalier Smartphone owners are with their information and Identity.

The highlights of the research are below:

  • 94% of consumers fear identity fraud and theft yet many keep too much personal data on mobile devices
  • 54% of second-hand phones contain personal data including texts, emails and even banking details, identity fraud expert Equifax is urging consumers to think about what personal data they store on their mobile phone and ensure they delete all data from both the phone and SIM card before recycling or selling it
  • 40% of smartphone users also don’t use the passcode function, leaving them vulnerable to ID fraud. And this jumps when looking at the younger generation that have most embraced the new technologies
  • 62% of 22-25 year olds use their smartphone to regularly check their online banking. Yet despite fears about identity theft, 69% do not use a passcode function on their phone
  • 35% admit to regularly clearing their browsing history after they use online banking. It’s also this generation where there’s probably more chance of them having personal items stolen when out shopping or in bars and clubs, making them the perfect target for fraudsters

 EQUIFAX’S SMARTPHONE SECURITY TIPS

  • Always use the PIN function on your handset
  • Don’t store reminders of passwords on your phone
  • Think about which accounts you access from your phone – would it be better to wait until you’re at the security of your home
  • Wipe browser history, especially if reviewing online banking
  • Keep an eye out for malicious software masquerading as apps
  • Keep your smartphone safe at all times
  • Delete all personal information from the phone and the SIM card before recycling or selling your phone

Read the full press release here.

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