IDENTITY THEFT RISK ASSESSMENT TOOLS IN THE BANKING SECTOR OF PAKISTAN

Abstract

Identity theft has emerged as a critical threat to the financial security of customers and the integrity of banking operations in Pakistan. With increasing digitization of financial services, banks face mounting risks related to fraudulent access, impersonation, and unauthorized data usage. This research investigates the effectiveness of existing risk assessment tools implemented by banks in Pakistan for detecting and preventing identity theft. By analyzing security practices, technologies used, and challenges faced by banking institutions, this study highlights gaps in risk assessment mechanisms and proposes an improved model based on global best practices. The findings contribute to building a more resilient banking infrastructure capable of proactively managing identity-related fraud.

Keywords. Identity Theft, Risk Assessment Tools, Banking Sector, Cyber Security, Case Study, Qualitative Study