Thursday 20 December 2012

IDENTITY THEFT


Introduction:

Identity Theft
Identity Theft

This Blog is meant for common man who does not understand the nitty-gritty of the Cyber world. This Blog tries to simplify his understanding of the Cyber Crime and the Golden Steps one should take to avoid unauthorized access of Bank Account and transferring money to another account.

We often come across news of Cyber-Crime particularly siphoning of huge amounts from Bank accounts of unsuspecting account holders and also disrupting the SMS Notification sent by the Bank in case of withdrawal of money from the account.

However, after reading such news we often feel or falsely assure ourselves that “This will not happen to me”. Isn’t it is very strange behavior on our part?

The purpose of this Blog is to Inform and Empower you to take care of your money in any Bank on the Planet Earth if you use Internet Banking.


Understanding Internet Banking:
Here, the bank handovers the lock (username) and key (password) to your Bank Account to you so that you have the convenience of accessing your account any time and from anywhere on this planet provided you have an instrument (Mobile Phone/Computer) with internet connection.

One should understand that unlike physical world in virtual world, no one monitors whether the lock of your account is opened using duplicate key or key obtained through unlawful means.

In physical world, whenever we lose a key or the key is damaged very often we seek the service of a local “Key maker”. He makes a duplicate key for any kind of lock using his simple instruments, experience and skill.

If an illiterate person with simple instrument and access to the place can open a hardcore lock then accessing a Bank Account by intelligent professional thieves having the lock and key (username and password) should not be surprising.

Just like we doubly secure the physical keys of our house we should secure the virtual lock and key of our Bank account. Few simple steps will allow you to prevent theft of your hard earned money from your Bank account.

Physical crimes are being done from time immemorial and Police personnel have also gained experience and developed skills over the years to crack the toughest of the case but Cyber-Crimes are new to the World and it’s detection is Very Difficult, Time Consuming and Costly.

Even if one detects the thief with great difficulty, catching the culprit becomes next to impossible if the thief is not residing in your country. Then the law enforcement agency has to follow a number of steps/rules and still co-operation of the other country is not guaranteed.

News Around the World:
Recently you might have read the news of Kandivli resident who was robbed of `1.75 lakhs by Cyber Criminals. He was using Mobile banking as appeared in the news articles. Refer News Article for details:

http://www.hindustantimes.com/StoryPage/Print/971197.aspx
Here the thieves are so intelligent and do their job meticulously with proper planning that they change the “SIM’ of the Mobile by giving a fake request to the telecom operator so that the Account Holder do not receive the SMS notification sent by the Bank.

Few links containing similar news is given below for your information and knowledge which will help you in securing the Lock and Key of your Bank Account online.


http://www.hindustantimes.com/StoryPage/Print/970770.aspx

http://www.hindustantimes.com/StoryPage/Print/971197.aspx

http://daily.bhaskar.com/article/SCT-NEWS-sim-card-%E2%80%98deactivated-it-could-be-a-netbanking-fraud-1718131.html

http://www.telegraphindia.com/1111010/jsp/orissa/story_14603720.jsp#

http://articles.timesofindia.indiatimes.com/2012-12-06/coimbatore/35646824_1_bank-account-icici-bank-private-bank

http://www.indianexpress.com/story-print/557444/

http://articles.timesofindia.indiatimes.com/2011-03-30/computing/29361096_1_sim-card-bank-account-numbers

http://itsecurityguru.org/blogs/sim-ple-130312 (For Mobile Banking Users)



Simple Don’ts:

Take your online banking lightly. Be serious enough as you would have been in case of your House Key.

Click on unknown links in the email inbox. Before doing anything, call your Bank’s contact center and confirm the same with them.

Use unsecured network and browsers to do online financial transactions.

Disclose your PIN, Passwords, Usernames, CVV No. of your Debit card and Credit card to anyone.

Discuss your finance, money matters in public places, lifts, public transport, etc.

Share all your personal details including full Date of Birth in social networking websites, websites of suspicious nature.

Share your photographs over the internet which is freely available to the whole world. Beware your photograph can be misused by Cyber Criminals.

Simple Dos:

Search all your personal information in the internet and you will be surprised most of your details may be available freely to the whole world. (Remember your details mean your Username or Password or Tools to Obtain Password).

Secure all your personal details in the Cyber World either by putting restrictions on the accessibility or delete your details from the internet.

Change your passwords more frequently say weekly or daily.

Create difficult password which should contain alphabets, numbers, symbols like !@#$%^&*()_+= etc. The password should be long enough.

While shifting residence, intimate your Bank, Telecom Provider about the new address and obtain acknowledgment.

Check with your mobile operator immediately without delay if you don’t get network for a while.

How Our Personal Information May be Used (Misused) by Cyber Criminals?
For your clear understanding, how the Cyber Criminals may use your Personal Information for any unlawful purpose is given below:

Your Name, Employer Name, Date of Birth, Address, Mobile No., Email ID: 

Can be used while speaking to your Bank’s call center posing as yourself.

Can be used to give a fake request for change of your SIM card.

After Change of SIM card there are chances of your mobile no. being used for Criminal activities or even Terror activities.

Family Details like Name of spouse, children, parents etc. and your likes and dislikes:
Can be used to guess password as people make the mistake of using the names of their favorite place, person, and things as their password to avoid the pain of remembering difficult password.

Remember Cyber Criminals are intelligent and lot of support functions are available to them. Do not underestimate them.


ID Details like PAN, Driving License, Employer ID:
PAN & Driving License is a Government issued document and can be used (misused) in many places as an Identity Proof and Address Proof. (Generally these are shared with unknown agencies while applying for credit cards).

Please post your doubts and get clarification before it becomes too late.

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