Common Types of Fraud and Scam: Identity Theft

Fraudsters get the personal information they need to assume your identity through theft.

​A scammer assumes your identity and uses your personal information, bank account or credit card details to make unauthorized transactions and purchases, whether online or in person. They usually obtain a victim’s personal information by posing as someone from an authority (like a bank or government office) and telling the victim that they need to provide personal information for official purposes. The same information can also be obtained through other fraudulent means like skimming, card cloning, phishing, vishing, and spoofing.

THEFT of victim’s personal and account information.
FRAUD committed using stolen information to access victim’s account.

Remember

• Beware of unexpected calls from someone claiming to be from position of authority and asking for personal information and bank details.
• Note down the person’s details such as name, company and department. Always call your bank or financial institution directly to verify if the person is legitimate.
• Activate multi-factor authentication such as One-Time Password (OTP), security questions, biometrics, email and text alerts to get notified every time there is a transaction involving your accounts and cards.
• Safeguard your identification cards, bank statements, and billing statements.
• Immediately report incidences of identity theft, skimming, cloning, phishing, vishing, and spoofing to your bank or financial institution.