4 minute read
How easy is it to STEAL
HOW EASY IS IT TO STEAL YOUR IDENTITY?
Personal data is one of your most valuable assets, but it’s also among the most vulnerable. Are you doing enough to protect yourself from digital identity theft? By DOMINIQUE BOWEN
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What’s your digital identity?
Gone are the days when your identity started and ended with a little green book. Organisations capture so much more data about you as an individual, including your movements, preferences, dislikes and health record. Stored digitally, this collection of personal data is your digital identity; it’s what allows you to bank online, for example, trusting that your information is stored by a reputable organisation in a secure way.
But what’s at stake when this information lands up in the hands of criminals?
How easy is it to steal your identity?
Sadly, as consumers, we’ve made identity theft a walk in the park for criminals. Leave enough information about yourself lying around – either on social media, account statements or shared email threads – and they can gradually collect and fill out a picture of you. “As soon as criminals have your ID number, they’re in a position to ‘purchase’ your entire profile from the dark web, including your full name, credit record, where you live, the amount outstanding on your bond, your phone number and more,” says Megan Govender, head of forensic services at Sanlam. “They can use that information in myriad ways, from attempting to change your internet banking password and accessing credit in your name to impersonating you to your insurer or investment company to retrieve your funds and benefits.”
Consequences of identity theft
If you notice anything amiss – SMSs from a credit provider YOU HAVE FREE LEGAL HELP
We have qualified legal experts on standby to help if you think you’ve become a victim of digital identity fraud. Call 0860 732 548/9 for free help, 24/7.
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about transactions you aren’t aware of, or worse, debt collectors chasing you for settlement – treat it with urgency. The consequences of identity theft are farreaching, even once you’ve blocked your credit card. Besides unwittingly earning yourself a poor reputation with lenders, your credit score takes a nosedive, too. Unless you clear your name with the authorities, you’re stuck with a bad credit profile, making future credit agreements like a home loan a headache to obtain.
337%
increase in digital identity theft 2019-2020
Another factor at play: the mass transition to working from home
due to COVID-19.
The August 2020 data breach
by one of the country’s largest credit bureaus could’ve had a role to play in this spike.
Without the same level of data security offered in-office, any sensitive data you transfer goes over less secure networks and is far more vulnerable.
Source: Southern African Fraud Prevention Service’s (SAFPS) 2020 fraud statistics report
Steps to protect your digital identity
1CHECK YOUR CREDIT REPORT OFTEN It’s important to stay one step ahead of fraudsters. To spot any signs of identity theft, Ayanda Ndimande, business development manager at Sanlam Retail Credit, suggests checking your credit report
Has someone stolen your identity?
STEP 1 Contact the lender with whom the impersonator has opened an account in your name. Provide the necessary information to prove your innocence, and you will be issued a letter confirming the impersonation. STEP 2 Report the theft to your local SAPS.
STEP 3 Use the letter confirming impersonation, along with supporting documents, to apply for Protective Registration on the SAFPS website: safps.org.za. Once loaded, your ID number will be flagged on the SAFPS database to show that you have been a victim of impersonation, which alerts future credit providers to take additional care when confirming your identity.
regularly. “There you will notice unknown credit accounts, too many enquiries in your name that you are not aware of, a drop in your credit score or a judgement or default in your name,” she says.
2SCRUTINISE YOUR BANK STATEMENT Many banks set a purchase amount threshold for eNotes when you make a purchase or a debit order goes off your account, so you may not be alerted to the odd small amount being debited. This is why it’s important to scrutinise your bank statement monthly to spot anything fishy and stop fraud in its tracks. “Look for unauthorised debit orders for a contract or credit account you have no knowledge of,” suggests Ndimande.
3THINK TWICE BEFORE SHARING While a criminal can be charged under POPIA for exploiting your personal data, by that time your data is irreversibly disseminated far and wide. Only share your ID number with authorised individuals for legitimate reasons.
SEE YOUR FREE CREDIT REPORT THROUGH SANLAM
Sanlam Credit Solutions allows you to conveniently understand and manage your credit profile – and registration is free! Visit sanlamcreditsolutions.co.za.
T&Cs apply.
Photography: Shutterstock, supplied
Visit sanlamreality.co.za/benefit/ivy-online to learn more. T&Cs apply.
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