Hyderabad: Hyderabad has witnessed a surge in identity theft cases, with a 20 per cent increase in reported incidents from the past year, posing an urgent need for awareness and enhanced cybersecurity measures among people.
According to cyber experts, small businesses are particularly vulnerable, facing financial losses and reputational damage.
"Identity theft can take various forms, each with its own set of consequences for the victim," explained cybersecurity experts Praveen Tangella and Anil Rachamalla.
According to Praveen Tangella, “Financial identity theft involves the unauthorised use of financial information, while social security identity theft targets personal identification. Tax identity theft occurs when fraudulent tax returns are filed using stolen personal information, leading to delays and investigations. Medical identity theft compromises medical records and insurance claims, and criminal identity theft can result in mistaken identity during legal proceedings."
“We receive a significant number of inquiries and requests, and not less than three per day for assistance from individuals who have fallen victim to identity theft or those seeking advice on how to protect themselves from such incidents,” he explained.
“One such case involves a resident of Hyderabad Rajiv Laxman (name changed), who became a victim of identity theft after responding to a phishing email disguised as a legitimate bank notification email that appeared to be a genuine mail from the bank, informing of suspicious activity on his account and prompting him to click on a link to verify details. Worried about the security of the account, he clicked on the link and entered personal information as requested.”
The impact of identity theft extends beyond individuals to small scale business owners in Hyderabad, who are particularly vulnerable to financial losses and reputational damage, explained Shiva Maruti, assistant commissioner of police, cyber crime.
"We encourage residents to report any suspicious activity or incidents of identity theft to the Cyber Crime Police immediately. Companies must undergo vulnerability tests of their computer devices and systems to mitigate the risk of falling victim to identity theft. Like how humans go for medical examinations. The majority of identity thefts occur within companies, yet many are hesitant to approach the police due to concerns about the impact on their reputation and customers,” he added.
As identity theft continues to jeopardise the financial security of individuals and businesses in Hyderabad, cyber experts advise them to take proactive steps to protect themselves online. Simple measures such as using strong passwords, enabling two-factor authentication, and being cautious of unsolicited communications can go a long way in preventing falling victim to cybercrime, said Anil Rachamalla.
