Any person who owns a debit, credit, petrol or store card, a driver's licence, identity document or cellphone can be a victim of identity theft and fraud.
This is according to Ian Labram of research and product development at Cre8, a division of Alexander Forbes.
"Criminals can use these to fraudulently obtain credit cards, open accounts, rent apartments, purchase cellphone contracts or even buy vehicles and property - all in your name," he says.
According to statistics, identity theft is the fastest growing white-collar crime in the US, where over 700 000 identities are stolen each year, costing in excess of $24 billion.
"While SA does not keep national statistics on identity theft, research shows that not only is it on the rise, but it is becoming ever more sophisticated as hackers increasingly use the Internet to gain individuals' personal details," says Labram.
Credit cards aside, ID document theft is also prevalent in SA, Labram says. "An investigation by the Sunday Times revealed that temporary and permanent ID documents were being sold illegally by Home Affairs officials for as little as R100."
Labram predicts it will become even easier for criminals to obtain people's identities thanks to innovation in electronic communication, purchasing and transaction management.
Analysis shows that victims of identity fraud incur the greatest costs after the crime is discovered. "Most especially in legal costs incurred to clear the victim's name and re-establish a debt-free status," he concludes.
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