MyCRA Specialist Credit Repair Lawyers

Tag: financial identity

  • Cyber-safety and financial identity: 5 reasons why parents need to be cyber-savvy.

    Media Release

    child internet useCyber-safety and financial identity: 5 reasons why parents need to be cyber-savvy.

    8 August 2013

    A credit expert is urging parents to focus on maintaining a dialogue with their children and get themselves up to speed with technology, in order to best prevent families from falling prey to the internet’s financial predators.

    CEO of MyCRA Credit Rating Repair, Graham Doessel says no parent should be complacent when it comes to their child’s internet use, particularly when they’re engaging in social networking.

    “At any age, we can be at risk of sharing too much information, adding suspect friends, downloading malware and falling for scams – all of which can threaten the integrity of not only our finances as parents – but for children, potentially their financial future as well,” he says.

    Mr Doessel says his company helps Australians clear adverse listings from their credit file which they believe should not be there. He says no one is immune to financial predators – and when a client experiences identity theft which leads to credit being taken out in their name, they are left financially crippled.

    “Basically the victim ends up with defaults on their credit file which unfortunately means they are black listed from credit for 5 years. These victims can’t borrow for anything – they can’t even take out a mobile phone plan,” he says.

    His warning comes following the release of the Australian Communications and Media Authority’s (ACMA) special report last Friday, on the way young Australians use the internet and social media.

    The report ‘Like, post, share’ explored emerging trends such as the rise of mobile access to the internet.

    “Whether it’s for study, playing games or connecting to friends and family, young Australians are placing more and more importance on the online aspects of their lives,” said ACMA Deputy Chairman Richard Bean.

    Mr Doessel says there are many reasons for parents to understand their child’s vulnerability to fraud from internet use – but he has identified 5 key reasons:

    1. Our kids are actually targets for fraudsters.

    Just because children are not 18, doesn’t mean they are not financially at risk. There have been warnings from Police about crooks scrolling through thousands of social networking pages purposely looking for young people, because they usually have the most open privacy settings.
    ”
    That information is not used right away, but is stored or ‘warehoused’ until the young people turn 18. They can then go on a ‘spending spree’ with the young person’s fake identity and credit.

    Mr Doessel says kids can also put their parents’ credit file at risk.

    “Downloading viruses can also mean the family computer is put at risk – which can threaten the financial identity of anyone using that computer for banking or other sensitive activities, and sharing too much information about parents can also be dangerous,” Mr Doessel says.

    2. Kids are on the net at increasing rates.

    According to the ACMA’s report, the percentage of Australian eight to nine year olds who rate the internet as ‘very important’ in their lives has doubled since 2009.

    Up to 35 per cent of eight to 11-year-olds have their own mobile phone, rising to 94 per cent of 16 to 17-year-olds.

    As children and young people get older their understanding of the internet and their use of it increases.

    “Older children and young people come to view the internet as a primary activity in and of itself and a source of entertainment, information and education,” the report says.

    One emergent area of avid use has been identified as social networking services, with the ACMA stating that it has become a “primary means of building, negotiating and presenting their social identities.”

    3. Social networking is incredibly risky.

    Mr Doessel says social networking offers fraudsters a whole host of personal information which can be misused.

    “Personal information can be extracted from social network sites, and fraudsters can build a profile on the victim – which can lead to identity theft and subsequent fraud,” he says.

    Social networking risks can include predatory friend requests, extraction of ‘public’ information for fraudulent use, viruses which include malware to extract passwords and other personal information from computers, and scam emails.

    Despite the risks, the ACMA report shows privacy is not always practiced by children.

    “Compared to their theoretical knowledge, perception and awareness of risks, their actual behaviour demonstrates that this knowledge is often not put into practice,” the report states.

    4. Pre-teens are vulnerable.

    The ACMA reports that parents need to think about starting conversations about cyber-safety with their kids earlier, with fewer eight to 11 year olds reporting having discussed issues of cyber-safety with their parents than 12 to 17 year olds.

    Younger teens are also slightly less likely to have private profiles or take other steps to manage their privacy.

    “From the research it seems that there is an age threshold of around 14 onwards where the relevance of a [fusion_builder_container hundred_percent=”yes” overflow=”visible”][fusion_builder_row][fusion_builder_column type=”1_1″ background_position=”left top” background_color=”” border_size=”” border_color=”” border_style=”solid” spacing=”yes” background_image=”” background_repeat=”no-repeat” padding=”” margin_top=”0px” margin_bottom=”0px” class=”” id=”” animation_type=”” animation_speed=”0.3″ animation_direction=”left” hide_on_mobile=”no” center_content=”no” min_height=”none”][digital] footprint can be grasped,” the report states.

    5. Our kids think they know more than us (and often they’re right!).

    Parents are the main source of advice and support for young people who are experiencing difficulties online, and ideally should be perceived as the authority on technology matters.

    “If parents don’t know their way around the web, they owe it to themselves and their family to get to know,” Mr Doessel says.

    “Whilst we can offer more freedom as they age, children still require our parenting in the virtual world as they would in the real one,” he says.

    The ACMA report shows when messages were delivered by individuals who children and young people perceive as being authorities in the area as well as having active knowledge of the activities they pursue, then such messages of cyber-safety can really get through.

    For more advice on protecting your financial identity, or for recovering from identity theft, people can go to MyCRA’s website  http://www.mycra.com.au/identity-theft/.

    /ENDS.

    MEDIA ENQUIRIES

    For Interviews – Graham Doessel – Founder and CEO MyCRA    Ph 3124 7133

    For all media enquiries – Lisa Brewster – Media Relations media@mycra.com.au

    media@mycra.com.au http://www.mycra.com.au/       www.mycra.com.au.blog

    246 Stafford Road, STAFFORD QLD. Ph: 07 3124 7133

    MyCRA Credit Rating Repair is Australia’s number one in credit rating repairs. We permanently remove defaults from credit files.

    http://www.acma.gov.au/theacma/newsroom/newsroom/media-releases/we-like-we-post-we-share-the-online-lives-of-young-australians
    http://www.smh.com.au/technology/technology-news/police-warn-of-sophisticated-plan-to-steal-identities-20111108-1n5l8.html#ixzz1dB4ctHcT

    Image: stockimages/ www.FreeDigitalPhotos.net[/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]

  • Technology makes Australians more vulnerable to organised crime

    cyber-crimeInterested in the changing face of cyber-crime? The International Serious and Organised Crime Conference was held in Brisbane on Tuesday, and shed some light on where we’re heading. The Conference has heard that technology changes has made organised crime more complex and more open to new crime markets – including intellectual property crime, and cyber-crime. The conference heard that Australian law enforcement was no longer working in relative isolation, and that it has been necessary over the last 10 years to expand partnerships, both nationally and internationally. We examine the relevant subjects in this important Conference, and look at what this means for your financial identity and your credit file in the future.

    By Graham Doessel, Founder and CEO of MyCRA Credit Rating Repair and www.fixmybadcredit.com.au.

    Minister for Home Affairs and Minister for Justice, Jason Clare released Organised Crime in Australia 2013 on Tuesday – the Australian Crime Commission’s report on serious and organised crime in Australia. This year marks the 10th anniversary of the Australian Crime Commission.

    The report concludes that organised crime is more pervasive, more powerful and more complex than ever before.

    “Organised crime worldwide makes more than $870 billion every year. That’s bigger than the GDP of Indonesia. If organised crime was a country it would be in the G20.” Mr Clare said.

    The Australian Crime Commission estimates that organised crime costs the Australian economy alone $15 billion each year.

    Australian Crime Commission CEO, John Lawler revealed at his keynote address to the conference that 67 per cent of our nationally significant serious and organised crime targets are linked to at least one international jurisdiction, with most focused in South-East Asia. These targets have a detrimental impact on Australia, and are sourcing illicit commodities from overseas including from Asia, Africa, Europe and South America.

    “Once, encounters with organised crime were largely restricted to those who sought out illicit commodities or illegal activities. Today, any Australian on any day can be impacted.

    What used to take a number of people and considerable time to commit a crime against 10 others, can now be committed by one individual against many more from behind a computer screen,” he told the Conference.

    He also identified an increasing incidence of Australian investors falling victim to investment scams as well as credit card or identity fraud.

    “Organised crime is no longer its own institution; it has now moved into every estate, it has pervaded each level of global society…And in Australia, we are seeing organised crime increasingly hiding clandestine activities through legitimate business enterprises,” Mr Lawler said.

    “Today, more than ever, the affect of organised crime on Australians is unparalleled. It’s pervasive, powerful and complex.”

    He says the only way to break the business of organised crime is through rich, contemporaneous, and comprehensive criminal intelligence. The ACC says it’s focused on data sharing with national and international agencies and businesses. ‘Big data sharing’ will be the way of the future.

    “Data, on its own, is of little use to law enforcement. It’s only when we pull the data together, analyse it and make links, that the real discovery and prevention can happen,” Lawler said.

    He says in the modern era, this also means partnering with law enforcement and Government, as well as private industry.

    As a result of recent legislative changes to the Australian Crime Commission Act, the ACC now discloses information to private industry.

    “We want to work with industry to use the Commission to build a strong understanding of risk and threat; to strengthen practices and ultimately make it difficult for organised crime to operate in Australia.

    This is also about a whole-of-community approach. The public are now key players in the fight,” Mr Lawler said.

    Task-Force Galilee: Investment Fraud

    During his speech, Mr Lawler describes the work the ACC did in dealing with a rampant investment fraud impacting Australians. Here is an excerpt from his speech, detailing the nature of the fraud, and the process the ACC went through to identify the groups involved:

    We had intelligence of 2600 Australians with losses in excess of $113 million. This crime was being committed off-shore. Traditional law enforcement efforts were being frustrated. These organised crime groups have established a sophisticated business model. They rely on global inconsistency around legislation and jurisdiction and target developing countries from which to perpetrate their crimes.

    Most callously, they target the elderly at a time when they should be enjoying their retirement.

    In response, Task Force Galilee brought together approximately 20 agencies to put together a multi-layered response.

    An important component was a public awareness campaign which included holding industry briefings, lauching a public report with the AIC to provide a picture of the threat.
    And, for the first time in law enforcement history, we partnered with Australia Post and sent a letter to every household in Australia warning them about this criminal activity and providing information on how to avoid becoming a victim.

    Market research undertaken following this campaign indicated increased public awareness and preventative behaviour from the public and high-risk groups when approached or targeted by investment fraudsters.

    Task Force Galilee has also had some successful operational outcomes, a huge feat when working across international borders.

    The most recent outcome occurred in April, when following a referral from the ACC, Thai authorities raided a suspect business premises in the central business district of Bangkok.

    During the raid, Thai authorities located nine foreigners as well as a number of Thai nationals. A range of incriminating evidence including telephones, call scripts, client lists and computer equipment were also located and seized.

    The criminal syndicate responsible had engaged a plethora of professional advisers located around the globe to assist their fraudulent behaviour ranging from corporate consulting firms to company incorporation and taxation advisers.

    Using a sophisticated website, supported by fraudulent prospectuses and the illegal use of company brands, the syndicate was able to sell non-existent shares in more than 20 companies.

    The complexity of the syndicate’s operations allowed it to successfully target victims in 19 countries across the world.

    The Australian Crime Commission estimates that the operation had generated at least A$45 million from Australian-based victims alone.

    The ACC and other international agencies have focused a significant amount of their efforts in unravelling the ‘dark market’ out there. To see the connections which exist between the internet and organised crime. To identify the fraudulent opportunities that can be thought up, bought, and perpetrated on a global scale. The ease with which international access can mean the big players can dodge detection and dissipate their possible negative impact. So the web is pretty tangled and requires lots of effort to find out what forces are at play. When you look at a scam email which has made its way to your email address – it might be pertinent to question, who is it really from? And who will benefit if you fall for it?

    The impact of cyber-crime on you can be far reaching. Falling for scams, whether large scale like the investment scam or even disclosing your personal information to the wrong person can put you at risk of identity theft. You may never have your bank accounts touched, but someone may gain access to your personal information, generally through obtaining it via virus software known as ‘malware’ or by phishing scams which can then be used to generate fake identification. Fraudsters may then create a fake identity in your name and even take out credit.

    If the theft goes undetected, the fraudster can be racking up thousands of dollars in debt in your name. When this happens, it is not only your bank accounts that can be affected, but your financial identity – your good name which is destroyed.

    In Australia, if a credit file holder fails to make repayments on credit past 60 days, then a default can be placed on their credit file by the creditor. This default remains on the credit file for 5 years, and can severely hinder their chances of getting credit once it is placed. For the identity theft victim, this can leave them severely disadvantaged for 5 years, and unable to take out legitimate credit. The only way they may be able to restore their good name is through lots of hard work proving to creditors they did not initiate the credit.

    So prevention is key. Made possible through education, through strong protection from Police and Government agencies, and through appropriate legislation to prevent ‘loopholes’ which make Australians targets for cybercriminals.

    Image: Victor Habbick/ www.FreeDigitalPhotos.net

  • Westpac customers warned: don’t be fooled by scam emails

    phishing emailBE CAUTIOUS WITH EMAILS FROM BANKS –EVEN YOURS. You may have received a “Security Upgrade” email from Westpac recently. If you are a Westpac customer, you may have read this email. You may have even taken it seriously… We want to warn you, this email is a scam! We describe what this email looks like, what it’s designed to do, and what you need to do if you come across it. If you are not a Westpac customer, this may still be extremely important for you, as these types of emails are targeting you in different forms every day and can impact not only your bank accounts, but also your personal and financial identity.

     

    By Graham Doessel, Founder and CEO of MyCRA Credit Rating Repair and www.fixmybadcredit.com.au.

    On Tuesday the Government’s ‘Stay Smart Online’ website sent out an alert about a very fishy phishing email targeting Westpac Bank customers. The SSO alert is below:

     

    Westpac customers targeted again by phishing emails

    28 May 2013

    Email warns of security upgrade, but links to fake banking site

    On 23 May 2013, antivirus vendor AVG issued a warning about the circulation of fake security notification emails pretending to originate from Westpac.

    Like similar fake emails that have targeted Westpac, this example claims to be addressing security concerns over a “recent spate of fraud and identity theft”. It advises that a security upgrade is being undertaken and will be effective once customers login to their account.

    The email includes a number of tell-tale errors that suggest it is a fake. In the image below, AVG has provided an overview of the errors which can help to identify it as a scam.

    AVG Westpac phishing email

    Image credit: AVG

    The fake banking website linked from this email looks similar to Westpac’s current online banking logon page.

    Don’t be fooled. This page is set up explicitly to capture your banking details.

    Westpac phishing email

     [fusion_builder_container hundred_percent=”yes” overflow=”visible”][fusion_builder_row][fusion_builder_column type=”1_1″ background_position=”left top” background_color=”” border_size=”” border_color=”” border_style=”solid” spacing=”yes” background_image=”” background_repeat=”no-repeat” padding=”” margin_top=”0px” margin_bottom=”0px” class=”” id=”” animation_type=”” animation_speed=”0.3″ animation_direction=”left” hide_on_mobile=”no” center_content=”no” min_height=”none”][Image: SSO]

    Avoid phishing emails

    Always be suspicious of unsolicited emails.

    Do not click links or open attachments. The best advice is to simply delete the email.

    If you are uncertain about an email you can always cross check the information by going independently to the company’s website or by calling the company directly.

    Westpac hosts a list of examples of ghost sites/fake sites that mimic its online banking page.

    Many reputable websites will specify how they will communicate with you on their website. Anything outside of this is suspicious. Westpac provides useful information about security on its website.

     

    The ins and outs of phishing scams

    Phishing scams are generally emails or text messages like the Westpac email, which impersonate genuine companies in the hope of tricking victims into giving out their personal and financial information.

    The aim of phishing is to steal information like bank and credit account numbers, passwords, and other crucial data.

    The ACCC’s Scamwatch website warns about phishing emails also. It warns they are not easily distinguishable from genuine corporate communication:

    “Phishing emails often look genuine and use what look to be genuine internet addresses—in fact, they often copy an institution’s logo and message format, which is very easy to do. It is also common for phishing messages to contain links to websites that are convincing fakes of real companies’ home pages.

    The website that the scammer’s email links to will have an address (URL) that is similar to but not the same as a real bank’s or financial institution’s site. For example, if the genuine site is at ‘www.realbank.com.au’, the scammer may use an address like ‘www.realbank.com.au.log107.biz’ or ‘www.phoneybank.com/realbank.com.au/login’.”

    The ramifications of falling for a phishing scam

    Clicking on links in phishing scams can mean your banking details are captured by fraudsters and can be accessed in order to drain your bank accounts. But in addition to this, just the simple act of clicking on the link can put you in danger. Many phishing emails are also designed to infect computers through virus-containing links in the emails.

    This could mean that you could download a Trojan or similar virus designed to steal your financial information – and you may have no idea its happening.

    This could be dangerous for your credit file. Because while you are carrying out your normal online transactions, the Malware that you have installed could be tracking passwords, financial details and personal details about you. This could be used by a clever and determined cyber-crook in order to build a fake identity in your name.

    Suddenly credit could be accessed in your name, and you probably won’t know about it until you apply for credit yourself and are refused. This presents real problems for fixing your credit rating, because what we know about removing unfair or inaccurate listings from your credit file is that you must provide evidence and proof that you didn’t initiate the credit. This can be difficult to do when you have no idea how the theft of your information occurred. It can be a nightmare for victims.

    So don’t get hooked by a phishing scam. If you receive an email that looks legitimate – go independently to the Bank or other company’s website to verify it. Or use the official Bank phone number (not the phone number presented on the email) to call the bank directly to verify the email is legitimate.

    Top image: David Castillo Dominici/ www.FreeDigitalPhotos.net

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  • Cyber-security to protect your financial identity.

    SSO_Logo+WebHow can what you do online impact your ability to obtain credit? Understand the risks and protect your credit rating.

    MyCRA is a partner for Cyber Security Awareness Week 2013, running this week until 24 May.  The aim of Awareness Week is to help Australians using the internet – whether at home, the workplace or school – understand the simple steps they can take to protect their personal and financial information online.

    By Graham Doessel, Founder and CEO of MyCRA Credit Rating Repair and www.fixmybadcredit.com.au.

    Cyber Security Awareness Week 2013 is an Australian Government initiative, held annually in partnership with industry, community and consumer groups and state and territory governments.

    One of the big risks for Australians is that their internet use will lead to fraudsters stealing their personal information for purposes of identity theft (now the fastest growing crime in Australia) and potentially fraud. The good credit rating of the victim could then be damaged.

    It is reported that 1 in 6 people in Australia is a victim or knows someone who has been a victim of identity theft or fraud in the past 6 months.

    Victims are not always ‘gullible’ as may be the impression in the wider community. Many experts say it is not a matter of if you experience an identity theft attempt, but when.

    Increasingly it comes from professional fraudsters whose main occupation is to steal personal information and financial details in order to commit fraud.

    The internet is a big source of personal information and its ever increasing use makes you more vulnerable to identity crime than ever.  This means identity crime can have very long arms – often it originates from overseas crime syndicates. Social networking, online banking, company databases can also be sources.

    The unlucky identity theft victim is unaware of the fraud until their identity is misused, and their credit rating with it. When identity theft damages your credit rating – it is because the fraudster has been able to overtake credit accounts, or has gained access to enough personally identifiable information about you to forge new identity documents.

    If credit accounts are not repaid – after 60 days you may be issued with written notification of non-payment and the intention for the creditor to list a default on your credit file. It is at this moment that some people who were previously unaware of any problems find out they have been victims of this more sophisticated type of identity theft.

    Protecting Your Financial Identity Online

    stay smart onlineYou can provide a safety buffer for yourslef and your family around one of the main channels for fraudsters to enter our lives – the internet.

    Remember the top tips

    Stay Smart Online encourages all Australians to remember these ten simple tips to improve their online security:

    1. Install and update your security software and set it to scan regularly
    2. Turn on automatic updates on all your software, particularly your operating system and applications
    3. Use strong passwords and different passwords for different uses
    4. Stop and think before you click on links and attachments
    5. Take care when buying online – research the supplier and use a safe payment method
    6. Only download “apps” from reputable publishers and read all permission requests
    7. Regularly check your privacy settings on social networking sites
    8. Stop and think before you post any photos or financial information online
    9. Talk with your child about staying safe online, including on their smart phone or mobile device
    10. Report or talk to someone if you feel uncomfortable or threatened online – download the Government’s Cybersafety Help Button

    For specific help with safe banking, we refer to the Australian Bankers’ Association’s recommendations:

    Protect your passwords – ensure you keep confidential your PIN and Internet banking logons and passwords. Avoid using the same logon/passwords for multiple websites, especially when it enables access to websites that include sensitive personal information. Set a pass code for your device and a PIN for your SIM. If your banking app allows logon with a PIN, make sure it is different to the one used to unlock your       mobile device. Make sure your password or code is something that’s hard for others to guess but easy for you to remember.  A bank will never ask you to provide passwords or PINs by e-mail or over the telephone.

    Lock – set your smartphone and tablet to automatically lock. The password will protect your device so that no-one else can use or view your information. Also store your device in a secure location.

    Contact your bank if you lose your smartphone or tablet – call your bank immediately to tell staff about the loss and provide your new phone number, especially if your bank uses an SMS message to authenticate transactions.

    Clear your mobile devices of text messages from banks especially before sharing, discarding or selling your device.

    Be careful what you send via text – never use text messages to disclose any personal information, such as account numbers, passwords or other personal information that could be used to steal your identity.

    Use only official apps – make sure to only use apps supplied by your financial institution and only download them from official app stores.

    Delete spam and scam e-mail – if the offer sounds too good to be true – it probably is.

    Guard identity information carefully and only provide it to trusted people and entities.  This includes date of birth, current address, driver’s licence and passport details.

    Anyone interested in online safety should subscribe to the email notifications from Stay Smart Online Alert Service. The Stay Smart Online Alert Service is a free subscription based service that provides home users and small to medium enterprises with information on the latest computer network threats and vulnerabilities in simple, non-technical, easy to understand language. It also provides solutions to help manage these risks.

    Also, you can look at securing different sections of your internet use in more depth with the help of Stay Smart Online’s key factsheets for online security.

    Check your credit file regularly, and act quickly on any discrepancies there – which can often be the first sign of identity theft. Copies of credit files can be ordered from one or more of Australia’s credit reporting agencies, and are free for the credit file holder once per year.

    Image 1: courtesy of Stay Smart Online

    Image 2: Ambro/ www.FreeDigitalPhotos.net