With the rise of digital platforms, online identity frauds have skyrocketed. Shielding your private information may be impossible these days. But there are some simple ways to protect you from becoming a victim of identity theft. Zerodha CEO Nithin Kamath shared a tweet suggesting ways to protect yourself from identity theft.
“Here is how you can protect yourself from identity theft,”Nithin Kamath tweeted along with an image that lists 6 steps to follow to to protect you from becoming a victim of identity theft
How to protect oneself from identity theft
1) Check your credit ratings regularly. If any loans have been taken in your name, they will show up in your credit report.
2) Register for CDSL and NSDL Consolidated Account Statement (CAS).Any equity or mutual fund transactions done using your PAN will appear in this statement.
3) Create a login on the income tax website and track the Annual Information Statement (AIS) for your PAN. The AIS provides complete information about a taxpayer for a particular financial year.
4) Keep a close track of all your banking and credit card transactions. Identities are stolen not just to create new accounts and loans that you are not aware of, but it is also used for conducting fraud using an existing bank, mobile, credit cards and loans as well.
5) Do not reveal sensitive information on public channels and social media.
6) Never share account logins or SMS OTPs with anyone
Nithin Kamath said that today, it is possible to verify all the proofs submitted by a customer very easily by matching them against the source.
“PAN through Income tax database, Proof of Identity & Address through Digilocker. Bank details using penny drop facility,” Kamath tweeted.
Sharing a video of the customer verification process in detail at Zerodha, he said that Live in-person verification (IPV) to check if the person opening the account & details being used are of the same person—the most important step to stop identity thefts.
Identity theft can affect you in many ways, and there are various ways to identify it.
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