WHILE the theft of identity won’t cost you in the short term, it is the long-term cost that needs to be factored in. The South African Fraud Prevention Service (SAFPS), says identity theft in South Africa has in fact increased substantially over the last six years and it nearly cost the banking industry over R1 billion. Impersonation or identity theft is the number one contributor to fraud, with men between the ages of 28 and 40 being the primary targets.
“The problem is that victims usually only discover that they are the victims of identity theft once they are negatively listed for for non-payment of accounts opened in their names or once their credit or loan applications are rejected,” said Manie Van Schalkwyk from SAFPS.
“ID theft normally starts with a stolen or lost ID book. The victim’s photograph is usually replaced with that of the fraudster who is doing the impersonation. “Armed with a fraudulent ID book, fraudulent bank statements etc. they can apply for loans, take out contracts or even open fraudulent bank accounts. More and more South Africans are losing money due to identity fraud and the clever execution of the fraud often makes it very difficult to detect,” says Alfred Ramosedi, Executive for Sales and Marketing at African Bank.
In order to safeguard yourself from identity fraud here are some useful hints and tips to follow:
• Do not carry unnecessary personal information in your wallet or purse.
• Do not disclose personal information such as passwords and pins when asked to do so by anyone via telephone, fax or even email.
• Do not write down pins and passwords and avoid obvious choices like birth dates and first names.
• Do not use internet cafes or unsecured terminals (hotels, conference centres etc.) to do your banking.
• Do not be a victim of dumpster diving. Neverthrow away documents with your bank account details or other personal information without first destroying the information.
DO’S:
• Protect your personal information at all times.
• Manage your personal information wisely.
• Check your credit profile at a bureau at least once a year. This is a free service from any of the main credit bureaux such as:
TransUnion – 086 148 2482
Experian – 086 110 5665
Xpert Decision Systems (XDS) – 086 112 7334
Compuscan – 086 151 4131
Consumers can also lodge a Protective Registrations or register as a Victim with the SAFPS. This is a free service to consumers. Consumers can contact SAFPS on 0860 101 248 or SMS the word “protectid” to 43366 and they will be contacted directly
