Ramci, Cybersecurity Malaysia team up to fight identity theft

16 Apr 2019 / 21:10 H.

PETALING JAYA: RAM Credit Information Sdn Bhd (Ramci) has signed a memorandum of understanding (MoU) with CyberSecurity Malaysia (CSM) to collaborate in addressing the growing prevalence of identity theft.

The two parties jointly launched “Stop Identity Theft”, a public awareness campaign to educate Malaysians with the knowledge about identity theft, how they can detect a potential breach of their identity and safeguard their identity.

The campaign will include a series of nationwide educational roadshows in the year while Ramci and CyberSecurity Malaysia will continue working with stakeholders from the government, educational institutions and the private sector to ensure that the message on the importance of safeguarding our identity reaches the grassroots.

CyberSecurity Malaysia CEO Datuk Ts Dr Amirudin Abdul Wahab said identity theft is a serious crime with far reaching financial and credit repercussions, and could involve millions of ringgit if not address expediently.

“Unfortunately, some do not take measures to safeguard their identity while others may not be aware of the need to until it’s too late. When your identity is compromised, you become a victim. Your information is no longer private, and the perpetrator can open accounts, take out loans, obtain or even drain credit card balances; all without holding any liability for paying any of it back,” he said.

According to MyCERT Incident Statistics 2018, identity theft cases in Malaysia increased by 20% from 371 in 2017 to 446 last year while Ramci’s recent consumer survey showed that 14% of respondents were victims of identity theft while 26% knew someone who had experienced it.

Identity theft occurs when someone steals your personal information or possessions in order to use it for fraudulent transactions. Fraud impersonation, unauthorised transactions, data breach and account compromises are among the common ways fraudsters can steal identities.

Ramci CEO Dawn Lai said fraudulent activities can be detected and immediate action taken, and stressed that no particular group is more at risk than another, as those with low credit scores are just as much at risk as those with excellent credit scores.

Meanwhile, Ramci also launched JagaMyID Plus, an enhanced version of JagaMyID, a comprehensive credit monitoring tool for individuals to protect their personal credit health and safeguard against any identity theft with an extra value of 24 hours insurance coverage protection worldwide.

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