Security tips for your identity and credit record

Frank Abagnale’s life as a conman and fraudster was depicted in the film Catch Me If You Can. Leonardo DiCaprio’s portrayal of Abagnale’s criminal career and his ability to evade capture came to life on the big screen in a big way. But at the age of 26, Abagnale “swapped sides” and has spent close to 40 years working for the FBI as a consultant to prevent fraudulent crimes.

As an international expert on fraud, identity theft and security, he helps protect organisations against fraudsters and cybercriminals. Speaking at the Experian Insight Conference on 4 August at The Maslow Hotel in Sandton, Abagnale and Michelle Beetar, managing director at Experian South Africa, shared a few tips to help protect yourself.

1. Be careful with personal information on social media

Giving away your date and place of birth on Facebook gives the fraudster a 98% capability of stealing your identity – they read information and resell it or misuse it. Don’t use “passport-style” profile pictures; facial recognition technology makes it easy for fraudsters to find you online. Pose for a picture with friends, while doing sport or have the picture taken at an angle.

2. Keep a shredder

Useful for discarding of any documents containing personal details. Additionally, never save passwords on electronic devices.

3. Subscribe to a credit monitoring service

This allows you to check your data as often as you want. If you identify a breach, you can report it to authorities. South Africans can view their credit reports, once a year, for free. You can also make use of an “alert” service, at a nominal fee. It will inform you via SMS or email if something has changed on your credit record; you’ll immediately be aware of someone opening an account or transacting in your name.

4. Don’t write cheques

Cheques include personal details: name, address, phone number and bank details. If a shop clerk obtains your identity number in conjunction with these, you are at risk of identity theft.

5. Protect your PC

Equip your computers with firewalls and protect them with updated spyware or malware security. The cost is worth it relative to the cost of having your information stolen. Never click on hyperlinks and always type out your bank or financial institution’s full web address or email.

This is an excerpt from an article that originally appeared in the 27 August 2015 edition of finweek. Buy and download the magazine here.