How to avoid identity theft

About 3600 cases of identity theft were reported in 2014 and this year, the numbers are expected to rise.

If you lost your wallet with your bank cards or ID document, criminals will typically use an ID document with a changed photo, open bank accounts, and then use that ID number to buy on credit and take out loans, without, of course, ever repaying them.

Nitesh Patel, head of customer financial solutions, personal banking at Standard Bank said customers need to be on their guard.

“It’s easy to throw away documents containing bank account details or other personal data, not realising the implications of this action, and the long-term costs could be great.”

Tips to minimise your risk of identity theft:

• Carefully dispose of expired ID items so they cannot be reused.
• When you receive a new bank card, sign it immediately and link your banking to your cell phone, so you are notified when any transactions go through.
• Report any fraud on your accounts to your bank immediately, so they can stop access to your cards.
• Keep a list of all your card numbers separate from your cards, in case your wallet or purse is stolen.
• Never write your PIN number on your cards or where they are stored.
• Cut up expired cards, because if someone gets hold of the card they can use it in conjunction with a fake ID to get a new one.
• Never leave your ID documents where they can be stolen. Syndicates steal ID documents to obtain fraudulent marriage certificates to allow foreigners to take up residency in South Africa. Worse still, they could use a fake ID to get a policy on your life; making them a beneficiary should anything happen to you.
• If your phone access is suddenly terminated, this could be the result of a fraudster suspending your phone contract so you don’t receive texts about your bank activity.

“If you suspect foul play, act immediately – it’s better to overreact than suffer the consequences of being a victim of fraud,” said Patel.