Identity Theft

A lot of fraud stems indirectly from identity theft. And many victims only realise their identities have been stolen and misused when they apply for credit.

Protect your personal details

You may not be aware just how often you give out your personal details. Your full names, address, identity and contact numbers might seem like harmless information, but to a fraudster it is a potential source of illicit revenue.

Fraudsters use various ways to get your information, including:

• running fake competitions;
• directing you to phishing websites;
• intercepting your mail;
• going through your trash – often finding bank statements, payslips, utility bills, and other documents with your personal information;
• getting your details from social media websites; or
• stealing your wallet, handbag or briefcase.

Fraudsters don't just steal personal identities, they also steal business identities, conning debtors to paying accounts and buying items from creditors in the business's name. They will even go as far as copying a business's logo and website, stealing company letterheads, rifling through trash, sourcing meeting minutes, and using any other organisational information they can find to commit fraud.

Tips on preventing identity theft 

• Keep confidential information safe. Avoid carrying confidential information in your wallet or leaving it in your car, and never give out personal or business information unless you are sure it will remain confidential. Keep all sensitive company documents in a safe place, and do not leave them on your desk or in unlocked cabinets.
• Sign up for emailed statements. Emailed statements are protected with a password and you can also create extra passwords for other sensitive documents. You can register for eStatements by calling the Nedbank Greenline on 800 22 072 or 800 55 777
• Shred before you throw away. If you are about to dispose of physical bank statements, invoices, or any document that has your personal information shred them first. Your trash could be a fraudster's treasure.
• Protect your computer. Install the latest antivirus updates and firewalls on your computer. You should also make sure that all computers, laptops and cellphones that may have company information are encrypted.
• Use different passwords for different services. If you use one password for all your sensitive-information services, you run a bigger risk to fall victim to a key logger who tracks your keyboard inputs through secretly installed software.
• Not all computers are secure. Be very careful when using computers at hotels, internet cafes and conference rooms. Never use these terminals for online banking as your data could be intercepted easily.
• Check your credit profile. By obtaining a credit report regularly you can spot any irregularities or applications for finance that you didn't make.
• Reconcile regularly. By reconciling all your accounts you are in a better position to see any unauthorised transactions.

If you realise you have become a victim of identity theft, you must do the following immediately:

• Report your stolen identity to Nedbank.
• Report the theft to the Police.
• Notify all your creditors in writing of the theft.