RAMCI, CyberSecurity Malaysia collaborate to fight identity theft
RAM Credit Information Sdn Bhd (RAMCI) signed a Memorandum of Understanding (MoU) with CyberSecurity Malaysia to work together to address the growing prevalence of identity theft in the country and to enhance public awareness on measures to avoid becoming a victim.
According to MyCERT Incident Statistics 2018, identity theft cases in Malaysia increased by 20% from 371 in 2017 to 446 last year. Meanwhile, RAMCI's recent consumer survey showed that 14% of respondents were victims of identity theft whilst 26% knew someone who had experienced it.
Identity theft occurs when someone steals your personal information or possessions so they can use it for fraudulent transactions. Fraud impersonation, unauthorised transactions, data breach and account compromises are among the common ways fraudsters can steal your identity.
To address the growing prevalence and to establish a call to action among the public, RAMCI and CyberSecurity Malaysia jointly launched a public awareness campaign, ‘STOP IDENTITY THEFT' to empower Malaysians with the knowledge about identity theft, how they can detect a potential breach of their identity and also safeguard their identity.
The campaign will include a series of nationwide educational roadshows in the year while RAMCI and CyberSecurity Malaysia will continue working alongside stakeholders from the governments, educational institutions and the private sector to ensure that the message on the importance of safeguarding our identity reaches the grassroots.
Amirudin Abdul Wahab, CEO of CyberSecurity Malaysia said, “Identity theft is indeed a serious crime with far reaching financial and credit repercussions for the individual and could involve millions of ringgit if not addressed expediently. We need to stop it!
“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.
“We are pleased to work together with RAMCI to create greater public awareness on identity theft and empower Malaysians to proactively take measures to safeguard their identity and not suffer the consequences of being a victim.”
According to Dawn Lai, chief executive officer of RAM Credit Information (RAMCI), “Despite the threat of identity thefts, today's modern living compels us to depend on online convenience for our different transactions. As a result, our confidential data may be compromised.
“Certainly, in today's environment, merely protecting personal details with passwords is insufficient. Consumers must be more diligent in regularly reviewing their credit reports and keeping them accurate and updated. That way, they will be notified immediately if there are changes to their credit status, and/or if someone illegally uses their particulars.
“Fraudulent activities can be detected and immediate action taken. Certainly, no particular group is more at risk than another. People with low credit scores are just as much at risk than people with excellent scores.”
At the signing ceremony, 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.
“Besides providing a monthly credit score, identity fraud alerts, constant monitoring of credit card utilisation and monthly payment tracking, JagaMyID Plus comes with a powerful online dashboard that will update subscribers on aspects currently impacting their credit. In addition to that, it also has a secured lock access to the credit report. This means that if someone ever tries to apply for any type of credit in your name while it's locked, you will be immediately notified.
“With the Plus version, you will get insurance coverage protection that provides compensation in the event of death, ATM withdrawal protection, snatch theft, bodily injury or other losses suffered by you. Being careful and well-prepared is key, and an identity theft protection service is just one piece of the puzzle to address this breach,” concluded Lai.
From now until May 16, in conjunction with the ‘Stop Identity Theft' campaign, JagaMyID Plus is offered at a special 20% discounted price of RM79.20 for a one-year plan inclusive of SST. Just enter a special a promo code: JAGAMYID to unlock this special promotion.