According to the National Banking and Securities Commission (CNBV), Mexico ranks second in identity theft in Latin America, only behind Brazil.
For thousands of Mexicans, having to pay a loan that they never requested, verifying that their bank accounts had been emptied, or having to go to a summons for a fraud that they had not committed, has become a terrible reality in recent times. When someone uses the personal information of another individual or even acts on behalf of a company to obtain some profit or commit an offense, we are talking about identity theft.
These crimes can irreversibly damage a person’s assets, although the situation is aggravated when identity theft is committed against a company, which can cause the loss of hundreds of sources of employment or years of work, due to that many of them, which are expanding, are closing their doors due to a fraud that wiped out all their assets.
How big is the problem?
According to Banco de México, our country ranks 8th worldwide in identity theft. Only from 2016 to 2017 the number of complaints for this crime tripled and it is estimated that 90% of identity thefts committed in the country are carried out through the use of digital technologies.
Either through fake emails seeking to obtain banking information or through a new customer who fraudulently impersonates someone else to scam a company; the methods for committing this crime in digital media are diverse and are multiplying, so it is necessary to take precautions.
What to do to prevent identity theft fraud?
There are basic recommendations that we must all follow to avoid being victims of this crime; Navigating on sites with security certificates and on trusted networks is essential. Not sharing passwords or other bank details through phone calls or email forms is also essential.
However, in the case of companies, carrying out rigorous processes to validate the identity of a person or company with whom you are going to do business, can reduce up to 100% the possibility of fraud in any relationship, not only with Your clients, partners or prospects, also applies to your collaborators, where it is essential to deal with trustworthy people.
How can you protect your company?
Tu Identidad is an integral solution that implements rigorous security processes and the most advanced technology to guarantee the identity validation process of a person, establishing proven strategies in the Know Your Customer (KYC) and Know Your Business (KYB) processes.
It has validation services that will allow you to know for sure who you are dealing with when establishing a new relationship with your company. Each of them are a solution that has been proven to prevent and mitigate fraud in Mexico, reducing losses, saving costs and avoiding many problems for the proper functioning of your company.
If you are interested in knowing more about them, you can book a demo and we will be happy to help you!