Advertise Here
Icon

Directory

IconAccounting & Tax
IconAccreditation Bodies
IconActuaries
IconAssociations and Institutes
IconAuditors
IconBBBEE Consulting and Verification Agencies
IconBusiness Process Management
IconBusiness Process Outsourcing
IconCompany Secretarial Services
IconCompare Medical Scheme Benefits
IconCompliance
IconConsumer Protection
IconCorporate Governance
IconCredit Bureaus
IconDebit Order Collection Facilities
IconEducation and Training
IconEmergency Medical Rescue
IconExpatriate Cover
IconFAIS
IconHealthcare Consultants
IconHuman Resources
IconInformation Technology and Software Partners
IconLegal
IconManaged Healthcare Service Providers
IconMedical Aid Administrators
IconMedical Aid Schemes
IconMedical Schemes Trustees Liability Insurance
IconMedical Service Providers
IconOmbud
IconPolicy Administration
IconPublications
IconRegulatory Authorities
IconSurveys & Research
IconTraining Courses & Workshops
IconWellness Programs
Image
  Subscribe To »

Protecting your Identity this Holiday Season

Published

2019

Wed

04

Dec

The South African Insurance Association (SAIA) encourages consumers to consider taking extra care in protecting their identity this festive season. Criminal activity tends to increase considerably over the holiday season. It is also often a time for criminals to take advantage of consumers through several cybercriminal activities, including identity theft. Online shopping offers a vast amount of options where people enter their personal and financial information into online payment platforms and complete transactions at the push of a button.  
 
There are several benefits of online banking and shopping for consumers, among others, not having to contend with other drivers for the congested road networks and the inconvenience of standing in shopping mall queues. Through online shopping and banking, one has the convenience of transacting in the comfort of their own home or office. However, this convenience comes with its own risks and does not fully protect one from falling victim to online criminal activity. In the World Economic Forum’s (WEF’s) Global Risks Report 2019, “massive data fraud and theft” ranked the number-four global risk over a ten-year horizon with cyber-attacks in the fifth place. 
 
Susan Walls, SAIA Technical Advisor, says: “It is imperative that consumers exercise extra care when it comes to electronic or online purchases, as this is where a great deal of identity theft normally takes place, both online and in store.”  One very common method cyber criminals use is phishing, whereby criminals try to gain access to consumers’ personal information by sending them pretentious emails, text or links to try and prompt consumers to provide personal details such as account information and pins.  Another method gaining traction is the interception of emails whereby criminals change the banking details on invoices. This occurs after the email is sent by the sender but before the recipient receives the electronic invoice. 
 
According to the South African Banking Risk Information Centre (SABRIC), “Another scam that criminals are still deploying is to trick people into paying for holiday accommodation that doesn’t exist. This scam sees criminals preying on people’s anxiety about booking a last-minute holiday. Victims are lured with what seems to be a really good deal, pay for the holiday in full and are then unable to make further arrangements with the agent who has simply disappeared.”  
 
Walls says that “consumers should take an active approach in protecting themselves from cyber-attacks. A useful starting point  for consumers is to take time to scan through their online profile such as social media accounts and search engines ensuring that there is no information shared that criminals can make use of such as birthdates, work and  home addresses or announcing planned vacations.”  
 
Consumers should register for SMS or email notifications to alert them of any purchases taking place. “Also, closely monitor bank accounts and credit card activity throughout the holiday period just in case an anomaly is picked up. Ensure that the websites logged into are secure and always log off after completing purchases” Walls added.  

SAIA has put together some basic tips to assist consumers with protecting themselves this holiday season:  

• Never share personal information unless you have verified it with your insurers, banks, etc and only provide this information under legitimate situations.  

• Avoid using internet cafés to do your banking, purchases and bookings.

• Update and change your passwords regularly.  

• Destroy documents containing personal information.

• Educate yourself on the different kinds of fraudulent trends and practice being vigilant.  

• Ensure that your computer firewall and anti-virus software is updated and of good quality.  

• Lastly, should you suspect that you have been a victim of cyber-crime contact the relevant service providers such as insurers, banks, etc. and follow up by reporting it to the police.

 
Source: SAIA
 
« Back to previous page Print this page » |
 

Breaking News »

Coronavirus and its effects on international trade and insurance

The deadly novel coronavirus outbreak (2019-CoV) has resulted in passenger and cargo ships being quarantined around the world, partial and complete travel bans to parts of China and shipping and airlines being ...
Read More »

  

Negligent failure to perform caesarean section in time (UK)

The claimant, suing the UK National Health Service, had a medical history of having undergone two caesarean sections and a tear to her womb. Her fourth pregnancy was therefore regarded as “high risk” ...
Read More »

  

Euler Hermes Global Insolvency Index: Insolvencies expected to rise by 4% in South Africa

The upward trend in business insolvencies continued in 2019 for the third time in a row: +9% year on year, according to Euler Hermes Global Insolvency Index, which covers 44 countries that account for 87% of global ...
Read More »

  

Euthanasia 44 years later: a case of deja vu

The debate around euthanasia and its legal implications has stirred again due to the recent case of Professor Sean Davison, charged with three counts of murder in circumstances where the deceased’s had asked ...
Read More »

 

More News »

Image

Investment »

Image

Life »

Image

Retirement »

Image

Short-term »

Image
Image
Image
Image
Image
Advertise Here

From The Glossary »

Icon

Fully Vesting:

This describes a smoothed bonus/guaranteed portfolio that allocates the entire bonus every year. Once bonuses are allocated, they can contractually never be taken back, even in a significant market downturn.
More Definitions »

 

Advertise

 

eZine

 

Contact IG

 

Media Pack

 

RSS Feeds

By using this website you agree to the Terms of Use.
Copyright © Insurance Gateway (Pty) Ltd 2004 - 2020. All Rights Reserved.