The Royal Bank of Scotland (RBS) has launched a new service specifically aimed at cracking down on credit card fraud.
With consumers becoming increasing worried about the growing levels of identity fraud the service aims to beat the criminals and limit the impact of their activity.
In the past five years ID fraud has rocketed by 400 per cent.
RBS research shows that 100,000 cases of identity theft are known to occur every year, costing the UK £1.3 billion.
"Something as simple as a utility bill is all that is needed for somebody to steal your identity, so it is no wonder people are worried about it," commented the managing director at RBS Cards Business, Iain Clink.
He continued: "The cost burden and inconvenience to the individual for recovering their identity make it relevant for the card issuer to provide its customers with a service that provides assistance, appropriate levels of insurance and financial protection."
The new service, which goes by the name of PrivacyGuard, helps victims to recover their credit records, and will be available for any financial service products provided by RBS.
Mr Clink concluded by saying: "Research shows that when people realise the size and growth of identity fraud, they are shocked at the lack of assistance and advice available to victims".
RBS to tackle credit card fraud
Financial Services
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