How identity theft is rising at an alarming rate!

As revealed by Experian India in its Fraud Report 2016, identity fraud in India accounted for 77% of the fraud cases in the first quarter of 2015. In the banking and financial sector, auto loans, mortgage loans and credit cards witnessed the largest number of fraud cases from identity theft in the last year, representing around 85% of the total frauds detected.

The increasing sharing of information on public domain is making data leakages doable. People need to be alert when sharing their personal details on any of the social platforms.

In times, when we continually hear about incidents related to fake identities, identity verification becomes mandatory to avoid social and workplace related threats like theft, embezzlement, violence, injury and harassment. Companies need to realize that if they are not verifying a candidate's identity first, then they might be checking the records for a wrong person. It's become important to ensure that the individuals are, who they claim to be.

A few cases clearly demonstrate how fraudsters today, constitute an industry today with their very well connected networks and skills. They use fake identities to defraud people and get away easy with ulterior motives.

The Central Crime Branch under Bangalore police arrested a person named Mohammed Irfan for impersonating a software engineer, Ravi Shankar Sharma, to secure jobs in software companies and avail bank loans. Using Sharma's stolen identity and educational documents, Irfan allegedly...