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ID theft top concern among Malaysian PDF  | Print |  E-mail

PETALING JAYA: Financial institutions may need to further improve their security systems to ensure that their customer’s personal data is safe, said Unisys Asia South vice-president and general manager Scott Whyman.

ID_Theft_11Preventive measures that can be taken to combat identity theft include implementing the use of biometric data, such as fingerprint reading and iris scanning for validating online transactions,” he said.

According to him, fraudsters are always on the look out for “soft targets” – those that don’t possess tightened and up-to-date security measures.

“And everyone should also be wary of the website they visit or the online merchants that they buy from,” Whyman said.

He said that in the past, people shied away from online transactions due to threats from viruses and bakers.

Today’s encryption technologies and other programs to safeguard online transactions have reduced such threats but Internet users should always keep their guard up.

“While many people (and organization) are less concerned about these threats nowadays, they still need to be on the lookout (for them),” Whyman said.

He was speaking to the press after releasing the results of the latest Unisys Security Index survey.

According to the survey, 78% of Malaysians who responded said they were very or extremely concerned over identity theft.

“Malaysians are beginning to be more aware of these (online) security risks and are looking into ways to reduce them,” Whyman said.

"Identity theft is one of the primary concerns across the entire Asia-Pacific region because more people are going online and are being targeted by online fraudsters looking for easy prey," said Unisys.

 

Did You Know

arrow Identity theft is the top consumer complaint in the USA according to the Federal Trade Commission.

arrow US consumers reported fraud loss totalling more than $1.1 billion in 2006.

arrow Credit card fraud (25%) was the most common form of reported identity theft in the US in 2006.

arrow More than 100 000 people are affected by identity theft each year in the UK

arrow According to Privacy Rights Clearinghouse, more than 350 data loss incidents involving more than 140 million records have occurred since February 2005

arrow Organisations are obliged by law to take take adequate steps to ensure the proper disposal of data


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