Surviving Identity Theft
Identity theft occurs when someone steals your personal information, such as your name, Tax File Number (TFN), or credit card details, to commit fraud. The theft can result in unauthorised purchases, taking out loans in your name, or other illegal activities that can harm your financial standing and credit score.
In Australia, identity theft can happen in several ways:
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Phishing: Scammers send fake emails or messages that appear to be from trusted companies to trick you into giving up personal information.
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Data breaches: Hackers break into company databases to steal large amounts of personal information.
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Skimming: Thieves use a small device to steal credit card information during a legitimate transaction, such as at an ATM or petrol station.
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Dumpster diving: Criminals search through rubbish bins to find bills or other documents containing personal information.
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Social engineering: Scammers manipulate people into giving up confidential information by pretending to be someone trustworthy.
If you have been the victim of Identity Theft, the best resource is the IDcare organisation, a not-for-profit organisation that specialises in recovering from identity theft.
It is also important to notify all of your financial institutions that have their own requirements.
Recovering from identity theft can take a considerable amount of time, especially speaking to several organisations.