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Credit Bureau Reports That Identity Theft Occurs Every 2 Seconds

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Every two seconds, somebody’s identity gets stolen around the world. This is according to a survey compiled by Transunion. Identity theft is on the rise as criminals use personal information to commit fraud. Private personal and credit information gets used to make unwarranted purchases and steal large amounts of cash.

Vera Nagtegaal, Executive Head of Hippo.co.za, released a statement saying that nearly half of all South Africans have either fallen victim or know of someone who has been a victim of identity theft. In a country with high crime rates, online crime only adds to things South Africans need to worry about on a daily basis.

The Randfontein Herald reports:

Should a fraudster get hold of these personal details, such as ID documents, payslips and banking details, they can open accounts in your name and run up credit card debt on your behalf.

She says its important for consumers to be aware of this and take all necessary precautions to protect their personal information.

How Can You Check If You Are A Victim Of Identity Theft ?

Strange Notifications

You should be on the lookout for any SMS or email notifications which raise suspicion. If you are getting notifications or OTP’s that you donlt know about, you should investigate further. If you see any suspicious activity you need to contact your bank immediately. You should cancel any cards or accounts that may be compromised.

Regular Credit Report Check

You should regularly check your credit report to ensure all information is accurate. The credit bureaus entitle you to one free credit report per year. Double check all of your accounts and payment history. If you notice anything out of the ordinary you need to contact the relevant credit provider for clarity.

The credit providers should contact the bureaus to update any incorrect information. Your credit report should be accurate at all times. Your credit report contains lots of useful information and should be used to create a monthly budget, especially if you have a few debts.  Incorrect information may affect your credit score or lead to being blahttps://www.vantagedebtmanagement.co.za/debt/blacklisted-south-africa-2/

{Source: Randfontein Herald}

 

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