Identity thieves are the ones who steal personal or financial
information of another person and use it to make transactions or purchases.
Acts committed under identity theft are categorised as
identity fraud. A variant of identity theft is application fraud where an applicant uses somebody else’s stolen identity to make an
application for an account, policy, service or insurance claim. While identity
thefts can be conducted in many ways, the proliferation of the internet and
smartphones today has made way for more high-tech fraud methods. Here are some ‘cyber’ ways in which your identity may
be stolen by the thieves.
1. Data Infringements
A data
breach is a security conflict wherein personal or classified information is
accessed without authorization of the owner. In terms of finance, data breaches
can include stealing full names, credit card numbers, passwords, credentials
for net banking, etc. Such data breaches can harm businesses and consumers
particularly having multiple accounts and businesses.
2. Wi-Fi riders
If you
are one of those who enjoy free Wi-Fi at the station or a cafe saving on a few
bucks. Well, to let you know, hackers may be able to "eavesdrop" on
your connection in such unprotected networks.
3. Credit Card Fraud
You are
looking through your credit account statement and you find a purchase of Rs.
5,000 which you can’t recall of - could be credit card fraud! This is the most
direct form of theft where the thief gains access to your credit card
information and uses it for their own expenses or to take out cash advances
using your account. In many cases, the
thief may not even need to steal your physical credit card, only the
information such as card number and PIN are enough. Here are some first-hand
measures to avoid being robbed:
●
Never disclose your credit card
number to anyone and never enter your card details on any unknown website.
●
Avoid handing over your card to the
waiter at the restaurant and insist on bringing the machine to the table.
●
Avoid Card skimming by visiting
better-known ATMs for withdrawing money
4. Unsecure Browsing
It is
not that difficult to identify a malicious website when you are equipped with
some internet basics and a bit of common sense. Here are some tips:
●
A URL beginning with an ‘https:’
and/or having a green lock symbol to the left of the browser window indicates a
secure and protected website.
●
Avoid clicking on a link embedded in
an email unless specified by a known sender.
●
A shady looking website with weird
content and spelling mistakes is an instant giveaway to being a fraud
5. Phishing and Spam Attacks
You may
have seen emails in your inbox bearing the name of your bank. When you open
those emails, you might be prompted towards a certain ‘call to action’
redirecting you to a website on the pretext of PAN verification, KYC or any other identity verification. This website (which may look like it belongs to the bank) may ask
you of your account details. Stop right there, could be a trap! When you enter
your details there, consider them compromised. The best way to identify real
from fake is from certain telltale signs. For example, if you get an email from
a sender named ‘ICICI’, check the domain (eg:<icici@icici.com>). If it’s a legitimate mail, the domain will belong to the
original website, else it will be something like <icici@abc.com>, which is clearly fake as banks won’t send via a random domain.
6. Trading on the Dark Web
This
discreet area of the www is an underground hotbed of criminal activities mainly
because it is not accessible by the search engines, making it incognito. This
is the marketplace where all the stolen data such as your credit card number,
name, etc. are assembled and sold by the hackers. The dark web has restricted
access and only with certain browsers, in case you are wondering!
Once they have the information they are looking for, identity thieves
can ruin your consumer credit score and the standing of other personal information. In order to avoid
damage, it is essential you stay informed and alert, always!
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