Local businesses should be aware of identity theft that can empty their and their clients’ accounts . . .
The Metrofile Information and Records Management Trends Index found that 19% of the 200 management executives researched have either experienced identity theft personally or knew someone who had fallen victim to the white collar crime over the past 12 months.
With identity theft on the rise, local businesses are warned to be very careful when destroying documents with personal details of employees and customers.
Gianmarco Lorenzi, managing director of document recycling specialists Cleardata, said that one of the easiest ways for criminals to commit identity theft was by getting their hands on documents with personal details such as identity numbers, emails or physical addresses.
“With simple computer programs it is easy for fraudsters to copy information and make it look original. All the criminal needs is the basic identity information to open up accounts and even take out loans,” he said.
Lorenzi referred to the 2014 study conducted by the South African Fraud Prevention Service which showed that 23% of all fraud cases filed at its offices were linked to hijacked identities.
He said shredding remains the most effective way for businesses to keep documents safe against using recorded information such as personal information, copies of identity documents, physical addresses and banking details.
Other people who took part in the 2014 Metrofile Trends Index also recorded a confidence level of 76% when asked how sure they were that the personal information of their customers and employees was protected.
“It is important for all business management to make sure that their staff know what can happen if secret documents fell into the wrong hands . . .
“Also start strict document destruction practices throughout the company and make sure they are enforced,” said Lorenzi.
