RAMCI’s JagaMyID helps keep credit scores, online identities safe

  • New credit monitoring subscription service said to be first of its kind in the country
  • Offers three subscription plans starting at RM50 for a one year plan


RAMCI’s JagaMyID helps keep credit scores, online identities safe


THERE is growing concern in the rise of cyber crimes and identity theft cases in today’s digital society in Malaysia.

Credit reporting agency RAM Credit Information (RAMCI’s) first consumer survey last year, for example, revealed that 14% of respondents experienced identity theft first hand while 26% knew of someone who had been a victim.

Crimes are commonplace due to the dominance of the internet in our daily lives, which impacts online purchases, online banking, e-payment transactions and all other services accessed via mobile apps.

Based on statistics gathered of identity theft cases by the Malaysian Chinese Association (MCA)’s Public Services and Complaints Bureau a total of RM2,825,000 was lost from 2014-2016.

That figure hit an all-time high in 2016 when it recorded RM1,638,000 in losses, giving cause for worry among many consumers

“Identity theft costs individuals here millions of Ringgit, making it a serious crime that has far-reaching financial and credit repercussions,” said RAMCI’s chief executive officer Dawn Lai.

To protect one’s credit health and safeguard against identity theft, credit reporting agency RAMCI introduced JagaMyID (or ‘Protect My ID’ in Malay), a consumer service under its www.MyCreditInfo.com.my umbrella, the first of its kind in the country they claim.

RAMCI offers the service in three subscription plans starting at RM50 for a one year plan and runs up to RM130 for a three-year plan.

The service which was internally developed over a period of three to six months uses RAMCI’s i-SCORE to help subscribers gauge their creditworthiness as well as monitor their credit card transactions, loan facilities and track their conduct of payment monthly.

According to RAMCI, JagaMyID also provides tips on how to improve a credit score and even delivers email alerts if there are any changes detected in a user’s credit profile such as fraudster posing as them to apply for credit at a bank.

JagaMyID also monitors credit card spend, provides updates on credit profiles and score changes, tracks monthly payment updates, discovers discrepancies in credit information and offers other financially-related tools that improve an individual’s credit score.

Lai adds that there is a genuine incentive for individuals to keep a good credit score as they would be able to negotiate better interest rates and credit terms.

The service offers a monthly update of a subscriber’s credit profile and they would also be entitled to request for Personal Credit Report Plus (PCRP) reports with CCRIS information covering their credit cards; housing, car, personal and PTPTN loans; and other credit facilities.

“With JagaMyID, subscribers are not only assured peace of mind with regards to safeguarding their identity but are also empowered to take control of their credit health and be more financially-disciplined when seeking financial freedom,” said Lai.

“While JagaMyID’s primary aim is to reduce and ultimately prevent identity theft and protect personal credit health. With the onset of e-payments and e-wallets, the business environment is changing but it is ultimately up to individuals to be more vigilant and secure their private financial information,” she added.

At present JagaMyID is only available via RAMCI’s website, though it is said to be mobile friendly and should be accessible via smartphone and tablets. Though it does not have a mobile app, there are plans to develop it sometime in the future.

Lai hopes to see the number of JagaMyID to attract as many as six-figure users within the credit active age, between ages 21 to 60, by year-end.


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