What is Stolen Identity?
Stolen Identity is the emerging crime in the recent times. It's relatively easy for a determined thief to steal your name, your UID number, your credit card number, or some other bit of personal information without your knowledge and commit fraud in your name. Unfortunately, You will only get to know of the stolen identity when you receive fake credit card bills, account details which you never opened.
Its not only a major concern in the developed countries but only pose major risks in a developing country like India. We are featuring this post in the "Banking Security Special month" as there is a rising concern about online transactions and credit card frauds. Also most of the stolen identity crimes results in financial frauds and fake transactions. In both way the identity frauds are linked to the financial and banking institutions.
How to prevent your identity?
It’s up to you to protect your personal information.
a. Experts recommend that you regularly check your credit report with major credit bureaus, follow up with creditors if your bills do not arrive on time, destroy unsolicited credit applications .
b. Shred paperwork containing account information or personal identifiers.
c. Keep important documents in a locked safe.
d. Pick up and send sensitive mail at the post office.
e. Online identity theft is also a problem.
f. Notorious risks are posed by phishing and spamming.
Some related reads:
Identity theft ( TOI)
Identity theft- A reality in India