Beware of identity theft

THE South African Fraud Prevention Service (SAFPS) this week confirmed that cases of identity theft are rising in the country.

This has been attributed to more transactions being done electronically, although physical theft still remains a real danger.

As consumers rush to buy new cellphones and other digital devices, open store accounts, apply for home loans and car finance or even personal loans, identity theft remains a huge contributor to fraud, said Manie van Schalkwyk of the SAFPS.

‘The problem is that victims usually only discover that they were the victims of identity theft once they are negatively listed for non-payment of accounts opened in their names or once their credit or loan applications are rejected.

‘With so much digital information available you are at risk every time you enter information online and a great deal of identity theft occurs online,’ said Van Schalkwyk.

His sentiments were fuelled by a recently published Consumer Confidence Index report, which indicates that the definite improvement in economic sentiment may lead to a spending spree.

The FNB/Bureau of Economic Research the Consumer Confidence Index for the first quarter of 2018 rose to a record high of +26 index points, the highest level since a decade ago.

‘In each of these instances identity documents must be produced to process the transaction. Whether it’s your ID book, passport, addresses and contact details, credit card or driver’s licence, there’s a fraudster looking over your shoulder waiting to take advantage of your lapse in attention.

‘SAFPS warns consumers to protect their personal information by sharing it very selectively and on a need to know basis only.

‘In addition, confidential information, which includes usernames, password and PIN numbers should never be shared with anybody.

‘If you realise that something is suspicious, then it is advisable to apply for Protective Registration on the SAFPS website.

‘This will provide the consumer with added security and will alert the credit provider or the bank that the specific ID number has been compromised.

‘This service is free of charge to consumers.’

‘To prevent your ID being used to commit fraud if it is ever lost or stolen, alert the SA Fraud Prevention Service immediately.

‘SMS “Protectid” to 43366 or at www.safps.org.za,’ said Van Schalkwyk.