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What is identity theft? How criminals open accounts in your name

By SendPay Business · · 2 min read

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Identity theft is when someone steals your personal details, such as your name, date of birth, address or ID documents, and uses them to pretend to be you. Identity fraud is what they do next: opening accounts, cards or loans in your name.

How details get stolen

Common routes are phishing messages, data breaches, stolen post, lost documents and oversharing on social media. A few basic details can be enough for a criminal to start building a fake application.

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Warning signs

  • Letters or emails about accounts or cards you never opened.
  • Payments or credit searches you do not recognise.
  • Post that suddenly stops arriving.
  • Being turned down for credit for no clear reason.

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What to do

Contact the bank or lender involved straight away, check your credit report with the credit reference agencies, and report it. In the UK you can report fraud to Action Fraud, and you can apply for protective registration with Cifas so extra checks are made on applications in your name.

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Why identity checks matter

Know your customer checks, which compare ID documents and details against trusted records, are how money platforms stop accounts being opened in someone else's name. Every SendPay platform includes customer identity verification at sign-up, powered by licensed partners.

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How it works

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Why sign up

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SendPay Business is a technology company, not a bank. Accounts, cards and payments are powered by licensed partners.

Questions people ask

What are KYC and AML?

The checks that stop fake accounts.

KYC and AML →
What is phishing?

A common way details get stolen.

Phishing →
Can I launch my own money app?

Yes, with identity checks built into sign-up.

See platforms →

Read next

Spotted a mistake or something out of date? and we'll fix it. How our guides are made

This guide is general information, not legal or financial advice. SendPay Business is a technology company, not a bank, and does not take deposits; regulated services on the platforms are provided by licensed partners. Other companies named in this guide are reference points only and are not affiliated with SendPay Business.