It’s nothing like physical theft, you won’t notice it like you would a missing phone. Identity theft is silent, lurking between the R99 debits you pay no mind to, the random email inviting you to track the unsuccessful delivery for a non-existent parcel and the confusing phone call or SMS about a service you know nothing about.
Sound familiar? Well, dear reader, we’re all one wrong turn away from identity theft – be it clicking on a link or giving out our personal information on vishing phone calls.
Call centre agents ask security questions to verity your identity, you too can ask them questions to gauge that they are who they say they are, and when in doubt - out.
Identity Theft Happens Online and Offline
Simply put, identity theft is using someone’s name or personal information without their knowledge for financial gain, fraud or unauthorised transactions.
We live in a highly digitised world and frequently use mobile apps and websites to bank, shop, communicate, and manage our social media. These platforms store our personal, financial and security information, making most of us vulnerable to identity theft.
Arguably our smartphones store most of our personal information, making them a gateway to identity theft. Beyond securing your devices it is important to select a secure network provider. Vodacom encrypts its network data and implements additional security processes like identity verification checks and multi-factor authentication to protect its customers from identity theft and SIM swap fraud.
Even offline, we are still susceptible to identity theft. Criminals use tactics like ATM skimming and shoulder surfing to get sensitive financial information like passwords, PINs and card details. Desperate fraudsters might even resort to dumpster diving to collect personal information from old invoices and bank statements.
What do the Numbers Say?
Research shows that identity theft in South Africa increased by 155% in 2024 alone, and we can’t delude ourselves into hoping that these numbers will disappear in 2025. Fraudsters are motivated by money, a never-ending need. According to TransUnion, identity theft happens every two seconds somewhere in the world. This might sound impossible but remember - it’s subtle, silent and most people don’t know that it has happened until it’s too late.
The Human Impact of fraud
Identity theft victims experience emotional, financial and sometimes reputational distress. Imagine having a spotless criminal and healthy credit record and then waking up to being implicated in a crime or finding yourself under a mountain of debt.
Preventing Identity Theft
The best way to fight identity theft is to protect yourself. Here’s how:
- Check your credit record every year
- Reset your password every three months
- Don’t use the same password for multiple accounts
- Tear up or shred documents when throwing them away
- Check your bank statements and report unfamiliar transactions
- Always cover the keypad when entering your bank PIN at ATMs
- Don’t give out your full name, ID number, home address, or passwords carelessly
- Switch to a smart card ID if you are still using the green book, smart cards have security features that are more difficult to forge
Stay alert and safeguard your personal information today, take these simple steps to protect yourself from identity theft.
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