Identity theft is not just a buzzword – it’s one of the fastest-growing crimes globally. Every few seconds, someone’s identity is stolen affecting not only finances but also their reputation and creditworthiness.

Many believe identity theft won’t happen to them until it’s too late. This type of fraud often devastates victims who have to work for years to restore their records.

Identity theft happens when someone illegally gains access to and uses another person’s private information – such as an ID number, driver's licence or bank details – to commit fraud. This can happen through stolen wallets, hacked emails, cyberattacks, and even phishing scams that trick you into disclosing personal information. Criminals often use this information to open new accounts, conduct fraudulent transactions or gain access to sensitive medical and tax records.

Types of identity theft you should know

Here are some of the most common forms of identity theft:

• Credit card fraud: Fraudsters steal your card information to make purchases or withdraw funds.
• Tax fraud: Using someone’s tax ID to file false returns and claim refunds.
• Medical identity theft: Criminals gain access to healthcare under another person’s insurance.
• Employment fraud:Using stolen details to secure a job or gain access to confidential employee records.

Each type can have serious, long-term consequences, from draining your bank account to negatively impacting your credit record.

Four ways to protect yourself from identity theft

Protecting yourself starts with alertness. Here’s what you can do:

1. Protect your personal information: Use strong, unique passwords and never share sensitive details over email or phone unless you’re 100% sure of the individual.
2. Monitor bank statements: Regularly review your bank and credit card statements for any suspicious transactions.
3. Secure your mail and documents: Destroy documents with personal details and switch to digital statements where possible to reduce the risk of mail theft.
4. Stay alert to phishing scams: Avoid unsolicited requests for personal information via email, SMS or phone.

Identity theft can leave lasting scars on your financial reputation making it very important that you remain vigilant. By taking these proactive steps, you can significantly reduce your risk and keep your information secure.

If you spot unusual activity on your account or lose access to your card, act quickly. Reporting fraud early can prevent further damage and safeguard your finances.

Report fraud quickly

Were you a victim of fraud? Report it immediately using these contact details:

011 256 9988
[email protected]