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Identity theft is the primary cause of many fraud-related cases. Perpetrators take advantage of legitimate and well-established identities by assuming these either to misappropriate funds or apply for credit using legitimate credentials.
Identity theft takes many forms. Certain particulars may be used, such as a victim's postal or residential address, or his or her full identity may be assumed. Many victims discover their details have been pilfered when they try to apply for credit and discover that they have been listed at various credit bureaus for bad debt. Trying to prove that you have not applied for the credit is difficult and having your record cleared, even more so.
Most of the time you are probably giving out your information without knowing it. Various scams are in place to obtain your information, such as fake competition forms and phishing websites. A psychologist in the United States interviewed inmates who had been incarcerated for fraud-related crimes. When asked what the best way would be to protect personal information the answer was simple: shred and reshred all documents discarded. If possible, use a cross-shredder that will cut the paper horizontally and vertically.
Don't implement these measures only at home. Consider what happens to the rubbish in your car when cleaned, or at your desk at the office. Think of what information you carry on you, in a handbag or briefcase that can be used if stolen. Many people don't think when they discard their mail that they are giving out identity numbers, addresses, contact numbers, account numbers and even bank statements.
Your post may be intercepted, where identifiable mail (mail bearing insignia or logos that indicate that it is from a retailer or financial institution) is removed and perused for sensitive information. Many people fail to update their postal addresses timeously, so third parties often receive bank statements and policy documents long after taking over the address.
Never assume that identity theft is perpetrated by a 'masked menace'. Identity theft can be perpetrated in your own home, by friends, family and employees, who can assume your identity far more easily than an unknown party.
Prevention guidelines:
- Store your personal/sensitive information in a secure place. Ensure that your filing cabinets are kept locked and your mail and documents are filed away. Refrain from leaving documents lying around, even in your home, where contractors, visitors and even family members may have access.
- Destroy your personal and financial information using a cross-shredder.
- Never write down passwords, personal identification numbers (PINs) and the like. Keep them in your head, or if you do require a reminder, rather note a clue.
- Pay attention to postal cycles and enquire if you don't get a bank/financial statement by the usual date. Review your financial statements regularly to detect any unknown movements on the accounts.
- Don't carry unnecessary information around with you, such as bank statements, payment receipts and certified copies of your identity document in your bag/wallet. These items can be stolen easily.
- Never keep your identity document and driving licence together, because if they are stolen, you may have a hard time proving who you are.
- Don't disclose personal information on the internet, unless you are on secure sites. Even then, query why the information is required and what it would be used for. Peruse their privacy policy prior to disclosing anything and, if you are still uncomfortable, make the company aware of this and request another channel for communicating your details.
- Don't disclose personal information when asked to do so telephonically or via email.
- Never respond to SMSs asking you to send your details via SMS to qualify for anything.
- For PINs and/or passwords avoid obvious choices such as birthdates and first names.
- Have different passwords for the different accounts, sites and programs which may store sensitive information. You wouldn't have the same key for your home, car, safe, filing cabinets and so on, would you?
- Never keep these details on your PC, as they can be recorded by software or viewed by hackers.
- Don't use internet cafés or unsecured terminals (hotels, conference centres, etc) to do your banking, as the data can be intercepted easily.
If you are a victim of identity theft
- Notify your creditors in writing of the problem.
- Report the matter to the South African Police Service.
- Alert South African Fraud Prevention Services (SAFPS) immediately on 0860 101 248 or at www.safps.org.za to have the identity theft listed on its database in order to prevent further credit from being granted in your name.
- Contact Experian/ITC/KreditInform to ensure that you have not been blacklisted due to non-payment.
- You may have to consider closing your accounts and opening new ones.
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Popular places on Nedbank.co.za
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Nedbank Limited Reg No 1951/000009/06, 135 Rivonia Road, Sandown, Sandton, 2196, South Africa. 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).
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Home : Legal Requirements : Glossary
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