How to protect your online identity.
How do you know your identity has not been compromised by scammers online or if your bank identity is still secure?
If you receive an SMS about a long-lost family member’s inheritance, or from a ‘bank’ asking to confirm personal information, chances are your data has already been compromised, and you must take steps to protect yourself before it’s too late.
That’s the warning from Davina Myburgh, head of emerging solutions at TransUnion Africa.
“Our research shows online fraud and identity theft against both businesses and consumers is booming. Criminals are constantly looking for new ways to steal your identity, and we have to be more vigilant than ever to make sure we don’t fall victim to one of these scams,” said Myburgh.
According to a recent consumer pulse study, two in five consumers reported they were aware of a digital fraud attempt targeted at them in the last three months and 5% had fallen victim to it.
Of consumers who were aware of a digital fraud attempt targeted at them, nearly 48% said the fraud attempt was from third-party seller scams on legitimate online retail websites, and almost 32% was from phishing.
There are several ways that scammers can find your details.
Most common are the terrible trio of phishing, smishing and vishing.
With phishing, criminals use realistic-looking emails to get you to click on links or provide personal details; smishing is the use of SMS or WhatsApp messages to fool you into giving up your information; and vishing is when thieves call you pretending to be your bank, medical aid or insurance company.
“Other methods include using unsecured websites to intercept your online activities, like shopping, to steal your personal information,” Myburgh said.
“Once the fraudsters have your details, you’re in trouble. It’s either open season on your bank accounts or they may well open retail accounts in your name and run up debts totalling thousands of rands without your knowledge. By the time you find out, you often already have adverse listings on your credit report and left fighting to clear your name.”
There are several basic steps you can take to protect yourself from identity theft. They are:
- Never click on a link in an email or provide your personal or banking information. No reputable financial institution or company will ever ask to verify your details in an email.
- Stick to trusted sites for online shopping. Check there’s an ‘https’ in the web address and an icon of a locked padlock on the left side of the URL (‘s’ stands for secure and means the site can be trusted).
- Secure your online identity now. Create strong passwords for important accounts such as your banking, online shopping and email. Change them regularly, and don’t use the same password for all your online profiles. Where possible, use two-factor authentication.
- Keep checking your transaction alerts.
- Consider getting proactive. Growing numbers of South African consumers are using different products to avoid falling victim to identity theft scams and to rapidly assist when they are scammed. These apps/products work by monitoring, restoring and recovering a consumer’s identity after their identity has been stolen.
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