Sponsored Article
What is ID fraud?
Identity fraud is when another person uses your personal information to commit fraud. It can be as simple as fraudsters using your credit card to buy things online, to using your personal information to secure important documents, such as a passport to commit fraud or more serious crimes.
Identity fraud is not just something that happens online – hard copies of sensitive information also provide a high level of risk. Private information such as your date of birth, mother’s maiden name and passwords are as valuable as money. This is enough information for a fraudster to open bank accounts, apply for credit cards, loans and much more.
The statistics are frightening:
- Average loss per incident to ID Fraud is $4101*.
- One in 10 Australians reported having their personal information stolen or misused in the previous12 months*.
- One in five Australians reported they were a victim at some point in their life*.
- The total annual estimated economic impact of identity crime in Australia is $2.4 billion**.
What do fraudsters look for?
Fraudsters use a variety of ways to gain the information they need to commit ID Fraud, and central to all their techniques is the exploitation of the opportunities many of us leave for them. They just look for easy opportunities to exploit, such as using personal documents that have been thrown away and not shredded or impersonating an official body to trick you into revealing personal information.
What should you do if you think you’ve been a victim of ID fraud?
- Get a copy of your credit report – This will show whether fraudsters have tried to open an account in your name.
- Put a fraud alert on your credit report which notifies lenders and creditors that they should take extra steps to verify your identity before extending credit.
- If you discover transactions on statements or have loans or other financial products taken out in your name which you did not make, contact the provider immediately.
- Report all lost or stolen documents, such as passports, driving licences, plastic cards, cheque books to the relevant organisation.
- Contact Australia Post if you suspect your mail is being stolen or that a mail redirection has been fraudulently set up on your address.
Top steps for beating ID fraud
- Treat your personal information and the documents that carry it as you would treat any valuables.
- If you are disposing of any documents which contain your personal information, ensure they are destroyed – shred anything you wouldn’t want in the hands of a stranger!
- Regularly update your computer firewall, anti-virus, anti-spyware programs and delete your web browser and cookie history.
- Use a variety of strong passwords for different online accounts and never share them or write them down.
- If you are asked to supply any personal information by e-mail, mail, the phone or by any other means always check them out and if in doubt do not disclose.
For more information, visit the Keep it Confidential website.
* Identity Crime and Misuse in Australia Survey, conducted by the Australian Institute of Criminology for the Attorney-General, May 2013
** Identity Crime and Misuse in Australia 2013-14 conducted by the Australian Institute of Criminology for the Attorney-General
Brought to you by Fellowes (Aust) Pty Ltd
