Identity fraud affects one in six finds new research from Intelliflo

  • Security
  • 03.08.2015 01:00 am

One in six (16%) UK adults earning £40,000 or more have been victims of identify fraud, according to a new survey by leading management software provider Intelliflo.

Despite the dangers of identity crime being widely publicised, the survey highlights that many people are complacent about how they send and receive sensitive information. When asked how comfortable they are that personal financial or personal identification information is secure when using standard digital delivery systems, the survey found that:

  • Over half (55%) are comfortable with the security of email.
  • Just under half (45%) are comfortable with the security of texts via phones.
  • More than one in five (22%) are comfortable with the security of social media messaging.

Asked how they have sent personal financial or identification information to a third party during the last five years, the survey found that:

  • More than two in five (42%) have used email.
  • Almost a quarter (24%), have sent it via text.
  • One in 10 (10%) have used social media direct messaging.
  • Almost half (48%) have used the traditional postal system.

Unsurprisingly, the majority of those polled (89%) expect their financial adviser to have a secure way to exchange financial information with them.

The survey was carried out to support the roll-out of Intelliflo’s Intelligent Office Personal Finance Portal (PFP), which includes secure communication between 12,600 Intelligent Office users and their clients.

Nick Eatock, Intelliflo’s Executive Chairman comments, “It’s quite shocking to discover that so many people believe their sensitive financial and identification information is safe when sent by standard email, text or via social media messaging. The convenience of using these routes is undoubtedly what makes them so popular and it underlines why it’s essential that financial advisers give their clients a secure way to exchange information with them digitally.”

As well as secure communication with clients, Intelliflo’s PFP service enables advisers to give clients access to live information about their investments at the touch of a button. As an additional enhancement, from August 2015 advisers can opt to provide clients with an overview of their wider financial situation, including bank and savings accounts, mortgage commitments as well as their pensions and investments – all via one information dashboard that is branded to the individual adviser firm.

Nick Eatock comments: “PFP offers multiple benefits to financial advisers. The functions it provides means that any adviser from any size of firm can offer their clients a state-of-the-art window to their financial situations, accessed from a range of mobile and desk-top devices quickly and securely. It has the ability to revolutionise the way advisers do business by enabling them to offer a high level of client servicing in a way that is both time and cost efficient. In a nutshell, it’s a game-changer for the industry.”


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