|
|
 |
|
|
|
|
 |
|
|
WHEN BAD THINGS HAPPEN TO YOUR GOOD NAME
The new millennium has spawned an increased variety of fraudsters, otherwise known as identity thieves. What is their modus operandi?
These criminals obtain as much of your personal and confidential information as possible, which will then be used to commit fraud. Clients are specifically targeted via a variety of sources, such as using identity documents, credit cards, and information from personal account statements, intercepted mail, and messages via the internet and email. Fraudsters take over your name, and deceive and mislead financial institutions and other credit grantors in approving credit on your name without your knowledge. The fraudster will ensure that the account statements are sent to another address, ensuring you are unaware that your name is being used to commit fraud. The end result is that you will be blacklisted at a credit bureau due to the fraudulent use of your name. In most instances it takes considerable effort, time and money to clear your name.
The following case study depicts a recent experience of identity theft.
Background information
It was a simple case of an unsuspecting victim who was robbed of her handbag while shopping one afternoon. Among the contents in the handbag, were her credits cards, bank transaction slips and an identity document, which all contained confidential information.
Findings
Despite the victim's efforts to report her identity document as stolen at her local police station, the thief still managed to use her identity, and in the process created a bad credit record in her name, which will take years to rectify.
Key learning points and prevention guidelines to avoid becoming a victim
- Reduce the amount of information that can be stolen by keeping minimal confidential information in your purse or wallet.
- Keep a watchful eye on your mail to prevent interception by an identity thief.
- Never give out excessive personal information via the telephone, email or internet.
- Destroy personal information before disposing of it.
- Use different passwords for different accounts, and avoid writing these passwords down. Rather try to memorise them.
- Obtain a regular report of your credit profile to check for irregularities, such as judgments against your name that you are unaware of.
- Install firewalls and antivirus software protection to prevent a computer virus from obtaining and sending out personal information from your personal computer. Ensure that the software is updated on a regular basis.
- Conduct reconciliations on all your accounts on a regular basis to detect unauthorised transactions.
- Store all your documentation containing personal data in a safe place, as an unassuming document like a cancelled cheque is a useful source of information to a perpetrator wanting to commit identity theft.
- Last but not least, report any identity theft to the South African Police Services (SAPS).
- If you do not receive your account statements on time, make enquiries at the relevant company or financial institution to ensure that your statements are not being sent to another address.
Fight back against identity theft by following these minimum prevention guidelines.
If you are requested to verify confidential banking information, ensure that you are dealing with legitimate staff!
|
|
|
|
|
|
|
|
|
Popular places on Nedbank.co.za
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nedbank Ltd Reg No 1951/000009/06. We subscribe to the Code of Banking Practice of The Banking Association South Africa and, for unresolved disputes, support resolution through the Ombudsman for Banking Services. We are an authorised financial services provider. We are a registered credit provider in terms of the National Credit Act (NCR Reg No NCRCP16).
|
Home : Legal Requirements : Glossary
|
|
|
|
|
