Identity theft occurs when someone obtains your personal information, such as your credit card details or your NRIC number, to commit fraud or other crimes. It can affect thousands of people in a year, in varying degrees of severity, ranging from a few unwanted grocery purchases on your credit card bill to fraudulently opening accounts in your name.
With the use of identity cards and credit cards occurring with widespread internet usage of information being exchanged and transacted on a daily basis, technology has facilitated more elaborate schemes such as phishing and hacking to acquire personal information. It is important to monitor your credit to prevent the potential likelihood of identity theft occurring. The earlier you catch an activity by an identity thief or fraudster who has stolen your personal information and used it to take out a loan or open up a credit card in your name, the easier it will be to restore your identity and financial life.
My Credit Monitor (MCM) is an important step in your endeavour to fight against identity theft by detecting any suspicious activities or changes that can affect your credit reputation. It acts as your third eye to monitor your credit report, looks out for predetermined activities and notifies through your email as soon as the lender uploads your information into your credit file thus providing the earliest possible indicator.
This service is intended to allow you to receive SMS notifications whenever there is a change to your personal credit report such as a new credit enquiry or new credit account as shown below.
You will receive an early notification if you have learnt that someone has tried opening a credit card in your name. Take steps to confirm that you are the one who has applied for credit. Report the fraud in a timely manner and dispute the fraudulent account with Credit Bureau Singapore.
MCM will inform you if there has been an account status change in your credit file. This will help you to detect unexpected changes and prompt you when your accounts need re-evaluation.
The earlier you catch an activity by an identity thief or fraudster who has stolen your personal information and used it to take out a loan or open up a credit card in your name, the easier it will be to restore your identity and financial life.
With My Credit Monitor, you can make more accurate and timely credit decisions. There are no extra fees for alerts, just extra credit protection. Sign up today at: