Identity theft is the action of having your identity stolen by a criminal who has managed to access your personal information.
Steph Bester, who is the CEO of a financial services provider, says identity theft has far reaching consequences.
“Your name could be used by criminals to open bank accounts, apply for credit cards, apply for loans, get married, or even hide from international police,” says Bester.
“Apart from your good name being compromised, you could be held liable for debts incurred, arrested for crimes you didn’t commit, or be unable to get married if the Department of Home Affairs has been hoodwinked into registering a fake marriage to your identity,” he adds.
There are no current statistics about what identify fraud costs South Africans, but 2011 estimates suggest that it is approximately R1-b per year.
Recent arrests also show that this type of crime is on the increase – and that nobody is immune.
Bester urges consumers to take precautionary measures to protect themselves from this class of crime.
“Actions as simple as not carrying your identity document around with you, making sure that nobody can see you enter your PIN at an ATM, or ensuring that you clear your post box daily so your mail doesn’t fall into the wrong hands can all protect you from identity theft,” he says.
“Most of the time, victims only realise that they have been scammed long after the fact, so the best course of action is to remain vigilant and aware at all times,” he warns.
Bester recommends the following steps to protect yourself from identity theft:
* Keep tabs on your identity documents and personal mail and never leave your wallet, purse or identity documents such as your ID book, passport or driver’s licence unattended.
* Report it if you’re a victim, i.e. if your handbag or wallet is lost or stolen.
* Set complex passwords for e-mail accounts and Internet banking profiles, steering away from passwords that have any link to your name, birthday, children’s or pets’ names.
* Beware of cold calls from your “bank”, because your bank will never request personal information over the phone, via SMS or through an e-mail.
* If it seems too good to be true, it probably is. Don’t fall for e-mails or SMSs telling you that you have won vast sums of money, or asking you for help with processing an inheritance, or any similar kind of request.
* Check your balance and your bank statements regularly and sign up for a transaction SMS notification service if your bank offers it.
* Be shy on social media. Don’t fall for social media posts that offer magnificent prizes or donations to help sick children in exchange for a “like” – these are also mechanisms that fraudsters use to identify victims.
“Be careful just how much you share on social media and on messaging portals.
“Even if you think your privacy settings are as secure as possible, there are always ways and means for criminals to track your movements, therefore, to gain access to your personal information.
“You can then easily become a target,” he says.
