PETALING JAYA: CTOS has launched its fraud protection and credit monitoring service, SecureID to address the problem of identity theft, fraud and scams, as well to help monitor a consumer’s credit health, which includes a dark web monitoring service.

According to the credit reporting agency, the subscribers to its service will receive alerts for any changes in their credit profiles such as new credit applications, missed payments, credit limit changes, closure of credit facilities, bankruptcy, litigation cases and also alerts for personal information found in the dark web.

It stated that this enables consumers to be more proactive instead of reactive in safeguarding their identity and managing their credit health.

According to CTOS group CEO Dennis Martin, with the numerous data breaches occurring not just in Malaysia but worldwide, along with the growth of online transactions and digital footprint via social media platforms, there are more ways than ever for identities and data to be stolen.

“In the first six months of 2019 alone, 4.1 billion personal records were leaked globally due to data breaches,” he said in a press statement.

“Many criminal elements use the dark web for the sale and purchase of people’s data, and our new monitoring tool allows us to alert consumers if their personal information is detected on the dark web.”

He pointed out that the service includes takaful coverage to provide a peace of mind should a subscriber fall victim to fraud.

With the SecureID, the agency has a market leading service which can help safeguard consumers against fraud and scams and also help improve financial literacy, in line with government’s mission to promote financial education and inclusion.

The subscribers will also receive support in the form of the latest information on scams and fraud prevention tips, support for issues related to identity theft and four MyCTOS Score Reports a year.