BSP urges public to be careful with personal information

The central bank`s financial consumer affairs group on behalf of the BSP warned the public of identity theft involving financial transaction. The statement was posted on the central bank`s website last Thursday.

The BSP said that people must be vigilant against "dumpster diving," as identity theft occurs when someone uses someone else’s personal information without permission, to commit fraud or other crimes. Thus, there are several ways to stole information. While the Internet, pickpocketing and stealing someone’s mail are the usual suspects.

This refers to the act of rummaging through trash bins to look for documents that may have someone’s personal information on them.

Besides, the BSP offers the public the following:
• To avoid falling victim do not give personal financial information such as account number, password, etc., over the phone or through the Internet, especially in response to unsolicited requests;
• Contact the particular financial institution mentioned in the letter or e-mail message requesting for the personal information if unsure whether such communications are legitimate;
• Transact only with secure websites. Look for "http" in the address bar;
• Shred or destroy papers, receipts and other documents bearing personal information if they are to be thrown them away;
• Keep in a safe place all private records and statements and do not share these with anyone.

If victimized, the BSP said consumers should immediately inform their bank or financial institution so the proper safeguards may be put in place.