How You Can Protect Yourself From Identity Theft

In today’s digital age, identity theft has become an increasingly prevalent concern for Australians. With cybercriminals constantly developing new methods to steal personal information, it’s crucial to stay vigilant and take proactive measures to safeguard your identity.

Understanding Identity Theft

Identity theft occurs when someone obtains your personal information without your consent and uses it for fraudulent purposes. This can include opening bank accounts, applying for credit cards, or even committing crimes in your name. The consequences can be devastating, potentially leading to financial loss, damaged credit ratings, and emotional distress.

Preventive Measures

Secure Your Personal Documents

One of the most crucial steps in protecting your identity is securing your personal documents:

• Store important documents, such as your passport and birth certificate, in a secure location at home.
• Avoid carrying unnecessary identification documents with you regularly.
• Use a lockable letterbox to prevent mail theft.
• Shred or securely destroy documents containing personal information before disposal.

Be Cautious with Personal Information

Limiting the exposure of your personal details is essential:

• Be wary of unsolicited requests for personal information, whether via email, phone, or in person.
• Avoid oversharing on social media platforms, particularly if your profile is public.
• When using public computers, clear your browsing history and log out of all accounts.

Strengthen Your Online Security

In our interconnected world, online security is paramount:

• Use strong, unique passwords for all your accounts.
• Enable multi-factor authentication wherever possible.
• Keep your computer and mobile devices protected with up-to-date security software.
• Avoid entering personal information on unsecured websites. Look for ‘https’ in the URL or a padlock symbol.

Monitor Your Financial Accounts

Regular monitoring can help you detect suspicious activity early:

• Check your bank statements and online accounts frequently for unusual transactions.
• Review your credit report every 90 days for any unauthorised applications or accounts.
• Consider setting up alerts for large transactions on your accounts.

Be Scam-Aware

Staying informed about common scams can help you avoid falling victim:

• Familiarise yourself with current scams by visiting the Scamwatch website.
• Be cautious of unsolicited calls, especially those claiming to be from your bank or government agencies.
• Remember the “Stop, Think, Protect” mantra when faced with suspicious requests.

Additional Protective Measures

Secure Your Mail

Your mailbox can be a goldmine for identity thieves:

• Install a lockable mailbox to prevent theft of sensitive documents.
• If you’re moving, ensure you redirect your mail promptly.
• Consider opting for electronic statements where possible to reduce paper mail.

Protect Your Mobile Devices

Mobile phones often contain a wealth of personal information:

• Use strong passcodes or biometric authentication on all devices.
• Avoid storing sensitive personal details in your phone’s notes or contacts.
• Be cautious when downloading apps, sticking to official app stores.

Be Careful with Public Wi-Fi

Public Wi-Fi networks can be hunting grounds for cybercriminals:

• Avoid accessing sensitive accounts (e.g., banking) on public Wi-Fi.
• Use a Virtual Private Network (VPN) when connecting to public networks.
• Ensure your device’s Wi-Fi auto-connect feature is turned off.

The Credential Protection Register (CPR)

In response to major data breaches, the Australian Government introduced the Identity Verification Service Credential Protection Register (CPR). This system helps protect individuals whose personal details have been compromised by:

• Blocking attempts to use stolen credentials for fraudulent purposes.
• Allowing legitimate owners to continue using their identity documents.
• Providing an additional layer of security for Australians’ identity credentials.

What to Do If You Suspect Identity Theft

If you believe your identity has been compromised, take immediate action:

1. Contact your bank to block your accounts and report any unauthorised transactions.
2. Change all your online passwords immediately.
3. Report the incident to your local police and obtain a report or reference number.
4. Contact IDCARE, Australia’s national identity and cyber support service, for free specialist assistance.
5. Report the incident to relevant organisations, such as government agencies or credit reporting bodies.
6. Consider applying for a Commonwealth Victims’ Certificate to support your claim of identity theft.

The Role fo Credit Reports

Your credit report can be a valuable tool in detecting identity theft:

• Order a free copy of your credit report every 90 days from one of credit reporting agencies.
• Review the report carefully for any unfamiliar entries or applications. Here is a guide on how often you should check your credit report.
• Consider placing an alert on your credit file to be notified of any new credit applications.

Emerging Technologies and Future Protections

The Australian Government is continually working to enhance identity protection measures:

• A $11.0 million investment has been allocated in the 2024-25 Budget to enhance the CPR system.
• Development of a mobile application and secure website is underway to allow victims of identity theft to be quickly notified of potential misuse.
• These initiatives aim to provide Australians with more robust tools to protect their identities in an evolving technological landscape.

Conclusion

Protecting your identity requires ongoing vigilance and proactive measures. By implementing the strategies outlined in this guide, you can significantly reduce your risk of falling victim to identity theft. Remember, staying informed about the latest scams and security measures is crucial in the ever-changing landscape of cybersecurity.

While no method is foolproof, combining these protective measures creates a strong defence against identity theft. Should you become a victim despite your best efforts, act swiftly and utilise the support services available to Australian consumers. By staying alert and taking prompt action, you can minimise the impact of identity theft and protect your financial and personal well-being.