So, one night you log in your email account, and open the inbox. You notice many new emails, but one in particular immediately draws you attention. The subject lines says “Important Message From RBI”. You are curious, and concerned at the same time. So, you check it, and in the body is a message-
“You are entitled for refund for a lost payment, and required to send your account details on this email address.”
Seems important, right? Do you think you should immediately follow what the message reads, and email your account details? Absolutely not! Emails, and sms’es like these are becoming more and more common, and making people victims of identity thefts and frauds.
What is an Identity Theft?
The name says it all- Identity theft is a theft of your identity. In other words, when an imposter uses your identity to engage in fraudulent financial activities, it is referred to as an Identity theft. Phishing scams are the most common method of identity thefts. Identity thieves can also use forged documents to carry illicit activities under your name. This is why it is always recommended that you share your personal documents with others carefully, and with prudence.
A victim of identity theft is not only exposed to financial loss but also faces the perils of impaired credit report that may lead to a CIBIL dispute and one looking out for ways to improve CIBIL score.
How it is Done?
Since the advent of Internet identity related frauds have become more common. This is because online transactions can be made easily without any form of personal interaction. Criminals can get access to your personal information from a remote location through trickery, and use it for a fraud.
FTC (Federal Trade Commission) has stated some common ways identity thieves can steal your private information:
Identity theft is serious crime, and it can cost you a fortune if you become a victim. The best way to protect yourself from it, is to prevent it from happening in the first place. Here are some measures you can take to safeguard your personal information:
The lack of awareness is the biggest reason why identity theft is so rampant in India. Unfortunately, awareness is also the only powerful thing that can prevent these thefts. Thus, make sure you start being careful with your documents and personal information from now onwards, and protect yourself from identity theft.
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