Take Ownership of Your Identity
Media Release
TAKE OWNERSHIP OF YOUR IDENTITY
Veda Advantage warns consumers to protect themselves during national privacy week, 24th to 30th August. ?
26 August, 2008: Veda Advantage has joined the Government’s commitment to fighting Identity Crimes, during Privacy Awareness Week (24 – 30th August 2008), by continuing to educate consumers about the importance of protecting their identity.
Veda Advantage calls on consumers to follow the ten step plan to being privacy aware (2nd page). This involves keeping track of who has access to your details, keeping all personal details such as your PIN and credit cards safe, not divulging too much personal information on social networking sites, and updating your details when you move address. Checking your credit file or setting up alert service can also help to safe-guard your financial identity, and monitor any changes on your credit file.
One of the most serious consequences of careless personal security habits is identity fraud or identity theft. Veda Advantage’s recent research into Australian’s attitudes towards their identity revealed that 70% of Australians have not taken even simple measures, such as shredding documents, to protect their identity – therefore becoming a security risk. The national telephone study conducted for Veda Advantage earlier this year, by Galaxy Research also revealed that 3.8 million Australians, or 23% of the population above the age of 16, have been affected by identity theft:
- 1.1 million Australians (7%) have personally experienced identity theft
- 1.2 million Australians have someone in their family who has experienced identity theft
- 3 million Australians have friends or acquaintances who have experienced identity theft
The Veda Advantage survey findings also highlighted that the ‘digital generation’, those aged between 16 – 24, were the least likely to have done something to prevent identity theft, with nine-out-of-ten people surveyed in this age group admitting they had not taken any measures at all to protect themselves.
Rory Matthews, Veda Advantage CEO, urges Australians to pay attention to the possibilities of identity crimes, which is one of the fastest-growing crimes in the world. “The research suggests many people have experienced identity theft, or are at risk of experiencing it – leaving themselves open to people applying for loans and credit cards in their name.”
“What is most alarming is the lack of concern, with 70% of the population not doing anything to reduce their vulnerability to an identity crime. Clearly, more Australians need to pay attention to simple measures such as shredding documents, and cutting up credit cards which can greatly reduce the risks of fraud,” he said.
Research from the Office of the Privacy Commissioner’s report Community Attitudes to Privacy, identified a key method for an identity being stolen occurred through the interception of both electronic and physical mail. A means of protection against this method is to set up a credit alert service, My Veda Alert, which notifies Australians when an application for credit has been made in their name, thus pre-empting any fraudulent financial transactions in their name.
“We recommend adult Australians should regularly check their credit file to find out if there are any applications for credit that may have been made without their knowledge. Australians can also sign up for a credit alert system for as little as $40 a year that notifies them via email whenever their file is obtained, such as when someone applies for credit in their name,” Mr Matthews said.
“Veda Advantage also works closely with the government and the business community to help minimise the impact of fraud on Australian society and the economy. However, taking ownership of your identity is also up to the consumer. We encourage individuals to take their own vigilant stance against the theft and subsequent use of their details by regularly monitoring their credit records,” Mr Matthews said.
Veda Advantage suggests the following 10 step plan to being privacy aware:
Shred any paperwork such as bank and credit card statements, phone bills and gas/electricity bills that contain your personal details or account details before throwing away.
Don’t display your complete birth date, phone number, email or home address in open online environments such as social networking sites, and change passwords regularly. Keep all personal ID items, such as student cards, passport and driver’s licence in a secure place.
Elect the “private” option on social networking sites. Most social networking websites allow you to hide certain pieces of information to limit what others can see online – or to only make information available to close friends or family. Remember, once you put your personal details online it can be hard to remove that information, so make sure you hide what you do not want the world to see.
Use secure transactions when banking online, and don’t open any attachments in emails that imply they are sending you to a bank’s site – type the bank’s URL directly into the computer to help ensure safe transactions.
Practice caution when using a public computer, especially in an internet café, make sure you are using a secure server when making financial transactions, do not save your email address, and remember to log out and close all windows when leaving.
Cut old cards across the signature and magnetic strip, and sign new cards as soon as they are received.
Notify people when you move house make sure you update your address details with all companies that may send you mail, from banks to health insurance and phone companies.
Check your credit file regularly if you are over the age of 16 and credit-active to make sure all information is true and correct. If something is inaccurate, someone at Veda Advantage can help. You can apply for a copy of your credit file at or by calling 1300 762 207.
Set up an alert service such as My Veda Alert that can notify you whenever someone applies for credit in your name where the credit provider obtains a copy of your credit file, this way you can keep on top of any changes to your credit file identity.
Contact your financial institution immediately if you find that there are transactions or suspicious activity on your credit statements. If your wallet is stolen remember to cancel club membership cards, your drivers’ and other licenses, as well as your bank and credit cards. File a police report straight away.
Mr Matthews sent a warning to Australians who spend a lot of time online, especially on social networking sites or on shopping sites. “Many of us are relatively protective of our real-world identification and would think twice about handing over a driver’s license or a password to a stranger. Yet millions of young people in particular disclose similar private information on social networking sites as well as other online websites without considering where that information might end up. The unfortunate reality is that these details, including birthdates and contact details, when put in the wrong hands, may be used for malicious purposes such as identity theft and credit fraud.”
For more information please contact
Sally Robertson: 0400 927 003 or 02 9270 0289
About the Galaxy Research Study: The Galaxy Research study was commissioned by Veda Advantage. It was a national telephone survey with a sample of 1100 respondents aged 16 years or older distributed throughout Australia, and weighted to the national population to ensure that age, gender and regional quotas were supplied to the sample to reflect the latest ABS population estimates. The study was conducted on the Galaxy Omnibus on the weekend 29 February to 2 March, 2008.
About Veda Advantage www.vedaadvantage.com.
Veda Advantage has been at the forefront of the information business for many decades. Issues such as privacy, data security, fraud and business intelligence have been part of our commercial landscape since the inception of both our company and our industry. Veda Advantage holds the country’s largest database of credit files for more than 14.5 million credit-active Australians. The vast majority of applications for credit in Australia are checked against the files held by Veda Advantage – protecting business from financial risk and ensuring consumers are only offered products that fit their risk profile.
You can apply for a copy of your credit file at www.mycreditfile.com.au or by calling 1300 762 207. A $27 express delivery service fee is payable if the file is needed urgently, or otherwise the file will be available within 10 working days.
About the Galaxy Research Study: The Galaxy Research study was commissioned by Veda Advantage. It was a national telephone survey with a sample of 1100 respondents aged 16 years or older distributed throughout Australia, and weighted to the national population to ensure that age, gender and regional quotas were supplied to the sample to reflect the latest ABS population estimates. The study was conducted on the Galaxy Omnibus on the weekend 29 February to 2 March, 2008.
DISCLAIMER
Purpose of Veda Advantage media releases:
Veda Advantage media releases are intended as a contemporary contribution to data and commentary in relation to consumer credit activity in the Australian economy. The information in this release is not intended to provide guidance or commentary as to Veda Advantage’s financial position nor does it constitute legal, accounting other professional financial advice. The information may change and Veda Advantage does not guarantee their currency or accuracy.
To the extent permitted by law, Veda Advantage specifically excludes all liability or responsibility for any loss or damage arising out of reliance on information in this release and the data in this report, including any consequential or indirect loss, loss of profit, loss of revenue or loss of business opportunity.
Veda retains all ownership, copyright and other intellectual property rights in this release and the data in this release and report and they may not be reproduced or distributed in any way except with prior written approval from Veda Advantage.