MyCRA Specialist Credit Repair Lawyers

Tag: Identity Theft

  • ID scanners in nightclubs are boosting the risk of ID theft says Privacy Commissioner

    Their purpose is to crack down on crimes of violence in pubs and clubs. But according to the Privacy Commissioner, an increasing number of complaints have been made to his office about the use of ID scanners in licensed venues. We look at what the issues are with ID scanners and whether your personal information is safe to hand over.

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

    It’s Friday night, you’re heading out to meet a group of friends in a nightclub. You head to the door, and are asked to hand over your ID to be scanned in to the venue’s ID scanner. Do you do it? Do you ask what’s happening with that information? Or do you merely let them whisk it through – knowing you’re not one of the troublemakers they’re looking for, and happily meet your friends in the club?

    Most young people would just hand over their ID, and this technology is being used in plenty of venues around Australia – with the intention of finding those holding fake ID cards, or those patrons who have been ‘banned’ or ‘flagged’ as unwanted.

    But many are calling for action over the use of identity scanners, because of the increase in risk of identity crime.

    Privacy Commissioner Timothy Pilgrim says there are a number of issues and risks associated with using ID scanning for this purpose.

    “If organisations are going to require to collect that information for reasons like that, it needs to be very clear at the point of entry that people will be asked for that information,” he told ABC’s World Today yesterday.

    “And people need to be told what will happen to that information once they hand it over. How is it going to be kept? Is it going to be kept securely? Is it going to be kept for a limited period of time, and who else may get access to it?

    “People have the right to know these things.”

    Mr Pilgrim says the use of ID scanners at pubs and clubs is increasing the risk of identity crime.

    “The more and more we’re being asked for information, the more and more it’s being stored in databases,” he said.

    “It leads to almost a honey pot sort of situation, where people who have malicious intent-criminal groups, for example, can see value in breaking into those systems.”

    The Privacy has been given new powers of penalty for businesses which breach privacy regulations, in the Privacy Amendments (Enhancing Privacy Protection) Bill 2012, which is currently before the Senate. This will include allowing him to penalise businesses which breach privacy regulations.

    “I would hope that organisations take the responsible step of putting in place proper protections for people’s personal information,” he said.

    “However, if there are serious and repeated breaches of the Act, I won’t hesitate to use the powers that I will have.”

    However, Victoria’s acting privacy commissioner, Dr Anthony Bendall, estimated more than 90 per cent of Australian businesses were not covered by the regulations in the Privacy Act because they had an annual turnover of less than $3 million.

    He says Privacy principles were unclear on businesses’ obligations if the information is compromised.

    ”If you do hold personal information and [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”][it is] breached in some way you’re not required to notify people that’s happened, and if it’s something like your licence there’s a good reason you should be telling them and to be taking steps to helping patrons protect themselves,” he told The Age on Sunday.

    Here’s more from The Age story, ‘ID scans raise privacy fears’:

    ID scanner company Scannet gives venues the rights to their own databases, and allows them to share the photos – but not the licence details – of banned patrons with other venues.

    Scannet director Joel Sheehan said it had 45 systems operating in Australia since it began selling them last year.

    Mr Sheehan said machines were password protected, with patrons generally more willing to scan their licences at clubs and pubs now.

    ”Now people that aren’t troublemakers that want to go out and enjoy themselves are all for it,” he said. ”At the end of the day the system’s voluntary, they don’t have to have their ID scanned as a condition of entry but at the same time if somebody’s not going out to cause trouble they shouldn’t have any problems having their ID scanned.”

    He said ID scanners had had a deterrent effect in clubs and pubs, as venue owners could pass on records to police of violent customers. He credited the machines with improving the safety of nightlife in Newcastle, where the company launched…

    While the Scannet website says the machines can help venues ”forecasting future business”, Mr Sheehan said that it was up to venues to comply with the Privacy Act and avoid abusing customers’ details.

    Australian Privacy Foundation board member Dr Katina Michael, said ID scanners were not effective in detecting fake IDs or deterring violent behaviour but put the majority of people at risk of identity fraud.

    ”When you’re talking about private entry to pubs and clubs … they may turn personal information into ones and zeroes at the back end and these stored identities in the future can be stolen … How do you reclaim your identity?”

    Some important points have been made here.

    1. When we are told identity crime is on the rise and is fast being used as part of the ‘repertoire’ of criminals around the world – why should people be parting with personal information unnecessarily? Especially when that information is a direct copy of an identifying document?

    2. It’s not a matter of crime groups not having the capabilities to hack into these databases…but more that it is not worth it…yet.

    3. If a data breach did occur, would those small businesses using the scanner even be required to be subjected to the big stick of the Privacy Commissioner?

    So what could happen if someone misused your identity? Your name could be attached to criminal activities; fraudsters could request tax or Centrelink payments on your behalf, as well as taking out credit in your name.

    If you have credit taken out in your name, you will often unknowingly incur debts with Creditors issuing defaults against your name on your credit file. People could be chasing you for credit you didn’t initiate, and if you apply for credit in your own right – you will be refused. This will continue for 5 years while you have bad credit.  You will be locked out of mainstream loans, credit cards and even mobile phone plans. So it’s important to protect your good name and prevent bad credit through fraud.

    My advice? Think twice before you scan your ID in next time you’re clubbing. If it was me, I would say no, or go somewhere else 🙂 Because you do have something to hide, and that’s your personal information.

    For help recovering your good credit history following identity theft, contact MyCRA Credit Rating Repairs on 1300 667 218 or visit our main website www.mycra.com.au.[/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]

  • Identity theft bust in Aussie news…and how to minimise your risk of ID theft

    A significant identity crime  saga has unfolded right here in Australia. We look at how $37.5 million was extracted from victims of credit card fraud. And we give you an idea of the important steps you can take to protect yourself and your credit file from fraud, identity theft and subsequent bad credit.

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

    Federal Police have arrested and charged a Sydney couple for their role in what Police are calling the “most significant identity crime syndicate disruption” in Australia’s history.

    A 40-year-old Ryde man and a 48-year-old Ryde woman were arrested and charged on Thursday. This brings the total arrests since October 2011 to eight from what Police are describing as a highly sophisticated identity crime syndicate.

    “Police have now seized more than 15,000 false credit cards, with an estimated potential fraud value of $37.5 million. This includes 12,000 false credit cards seized in November 2011, which was the largest singular seizure of fake credit cards in Australian history. Major manufacturing equipment has also been seized throughout the investigation.

    The arrests come as a result of an Identity Security Strike Team (ISST) investigation which began in April 2011. The investigation focused on the activities of a Sydney based crime syndicate involved in the manufacture and supply of fraudulent identity documents and credit cards.

    The ISST is comprised of members from the Australian Federal Police (AFP), New South Wales Police Force, New South Wales Roads and Maritime Services and the Department of Immigration and Citizenship (DIAC),” AFP announced in a joint media release on Thursday.

    Police will allege that the couple was manufacturing fraudulent documents from their home to falsely obtain credit cards. They will appear in a Hornsby Court on October 25.

    These victims may now be facing defaults and other negative credit listings on their credit file. Thankfully, arrests have been made, names have been recovered and those people who did fall victim, may have a chance at recovering their good name.

    For those victims in similar but separate incidents, they may not be so lucky to have had their perpetrators arrested. Restoring their clean credit file in this situation can be a nightmare to say the least. First they have the debt owing, then to clear the credit listings from their credit file so they can borrow money again – they need to prove they didn’t initiate the credit in the first place.

    This can be tricky if they don’t know when or how the identity theft occurred, and don’t have a perpetrator. Some can be faced with 5 to 7 years of bad credit through no fault of their own.

    So prevention is really better than the cure. If you want to know how you might prevent this happening to you, check out the identity theft prevention tips put out by www.Savingsguide.com.au over the weekend. You never know, just one thing you do differently could see you preventing having your life turned upside down from bad credit due to identity theft.

    Prevent Identity Theft: 10 Steps

    Identity theft is an increasing risk in today’s hyper-technological world, and can have significant effects on our finances. While there are means to redress the problem, like all things, it’s better to prevent identity theft from occurring than to fix it after the fact. Here are ten ways to protect yourself, inspired by Reader’s Digest.

    #1: Cover Your Card
    It’s not being paranoid to cover your card when using it. In the days of mobile phones, it’s fairly easy to take a snap of card and use the digits later. It doesn’t take much to keep part of it covered.

    #2: Check Your Statements
    Often, an identity thief will take an initial, tiny amount out of your account to see if you’re checking it, then go in for the swoop a couple of days or weeks later. Check it once a week, and report anything you don’t recognise.

    #3: Get Bills Online
    There are protections against people seeing your bills online. Not so for people being able to nick them out of the letterbox.

    #4: Destroy Financial Items
    Recycling bins could be a treasure trove, so make sure your paper is well-shredded or, even better, good fodder for your next bonfire. Make sure your cards are seriously well cut up, and don’t chuck out half-filled loan applications without blacking out the details first.

    #5: Strange ATMs
    If the ATM looks different, or has an extra attachment on it, walk away and report it to the bank responsible.

    #6: Debit Cards
    Credit cards have fraud insurance, debit cards don’t. Be wary about where you are using the debit card, and stick to places you trust.

    #7: Consider A Photo
    Noticed that people at checkouts don’t even look at your signature? Scary isn’t it. Consider getting a credit card with your photo on it, it’s hard to miss and far harder to pass off as an identity thief.

    #8: Lock Your Mailbox
    New credit cards, debit cards and bills all come into your mailbox. It’s a simple thing to get a lock on it, and at least make it a sight harder for someone to steal the card and activate it.

    #9: Keep Smart Online
    Look for the SSL or TSSL padlocks whenever you’re entering any details, and don’t save financial data online. Quicker it may be, but far more exposed to identity theft. [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”][Ensure any financial transactions are made using a secure browser https rather than http.]

    #10: Passwords And Pins
    They’re almost impossible to remember, the plethora of pins and passwords we now need, but if you’re serious about protecting yourself from identity fraud, have several and change them often. Don’t keep your pin anywhere in your wallet, no matter how well-disguised. You can run into trouble with insurance should you have your pin close to your card and are a victim of identity theft.

    If you have run into trouble restoring your good credit rating following identity theft, then you may be a candidate for credit repair. Credit repair is about uncovering and providing evidence for instances where the Creditor has unlawfully placed a default or other adverse listing on your credit file and negotiating on your behalf for the removal of that incorrect credit listing by the Creditor. We can put our vast knowledge of industry and credit reporting law behind your case and help negotiate the removal of bad credit which shouldn’t be there. Contact a Credit Repair Advisor on 1300 667 218 to discuss your suitability.

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

  • Credit file warning: Organised crime groups focused on stealing your identity

    In the future, the security of your personal information may be more crucial than ever. A warning coming from the Australian Crime Commission that organised crime groups will be more likely to hone in on opportunities associated with identity theft to commit crimes in the future. This could have serious implications for every aspect of your life. Your identity is basically your good name, and financially, it is also the key to your ability to obtain credit through your credit file. If you become an identity theft victim, you may also become a victim of credit fraud and end up in serious debt and with bad credit history for years. We look at what is happening, what is predicted for the future, and the 10 ways you can protect your personal information.

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

    The Australian Crime Commission (ACC) has said at a national conference for credit professionals that identity crime is used by almost all of the serous and organised criminal groups operating in Australia and is a key enabling activity for a range of frauds.

    The ACC’s Chief Executive Officer, John Lawler presented at the Dun and Bradstreet Consumer Credit Conference, ‘Credit risk in Australia – The road ahead’ last week. Mr Lawler spoke on ‘Global trends in consumer fraud’. Mr Lawler said identity crime is a “key facilitator” for organised crime groups because it is an anonymous crime which can enable significant fraud.

    “Every single person in this room and the various sectors and organisations that you represent are targets for organised crime,” he told the Conference.

    “Criminals will exploit technology to not only carry out new crimes but commit traditional crimes on a much larger scale.”

    The ACC estimates organised crime is currently costing the Australian economy at least $15 billion per annum – and that the impacts of this are significant and growing.

    Globally, the cost of cyber-crime alone has been calculated at $388 billion annually. This is more than the global market in marijuana, cocaine and heroin combined ($288 billion).

    Mr Lawler says the amount of personal information requested and stored online, along with the growing popularity of social networking sites, provides organised crime with a larger pool of victims and data to harvest:

    •Phishing attacks have become well designed and targeted.
    •Companies are being increasingly targeted as criminals are attracted to large volumes of data stored in single systems.
    •Organised criminals are also warehousing data for later use, making it more difficult to detect when and how data breaches have occurred.

    He says that the most threatening crime groups are diversified in the nature of their crimes – so they are running several ‘games’ and warned that these groups are increasing their level of involvement in fraud. He says this is due to the big pay offs. It’s anonymous so generates less risk, whilst bringing in “some significant profits.” The range of fraud types can include credit card fraud, mass marketed fraud, revenue and taxation fraud, superannuation fraud and financial market fraud.

    “Organised criminals seek to conduct significant research on their intended victims and tailoring their operations to target weaknesses.

    Serious and organised crime is embracing technology and the cyber environment like never before. The use by organised crime of professional facilitators, the use of false and stolen identities provides them with access to systems and data on an unprecedented scale. One manifestation of this is the unlawful access to and supply of illicit commodities, malware and illegal firearms through online sites such as darknets.

    This interface is occurring at all levels from an individual perpetrator to sophisticated serious and organised criminal networks. The anonymity and obfuscation of identity/location provided by the cyber environment facilitates these criminal acts,” he said.

    He warned of the prevalence of “white-collar” fraud like investment fraud. Which don’t target the naïve, but target those with plenty of money looking to invest prior to retiring. The scams are extremely well thought out:

    “Fraudulent syndicates rely on establishing a perception of legitimacy, trustworthiness and success. Syndicates typically establish virtual offices or fictitious corporations which mirror legitimate businesses. They build a perception of legitimacy through highly professional looking websites that provide press releases and make false claims of outstanding corporate performance. They are often linked to false regulator sites and can manipulate search engine data so that those undertaking due diligence are provided with affirmative responses in relation to the investments that are being yielded,” he explained.

    The ACC says education is key to improving our steeliness against this type of crime. They have written a letter via Australia Post to every householder in Australia warning of the risks of serious and organised investment fraud in Australia.

    But they say both businesses and the public sector have a role to play in understanding the ways they can minimise risk to all consumers.

    10 Ways To Protect Your Personal Information From Identity Theft

    1. Keep virus software up to date on your computer. Install automatic updates and perform regular virus scans.

    2. Keep your privacy settings secure on all social networking sites.

    3. Keep your passwords and PIN numbers secure. Don’t carry PIN numbers with your credit/debit cards, change passwords regularly and use a variety of passwords for different purposes.

    4. Check all your credit card and bank statements each time they come in.

    5. Cross-shred all personally identifiable information which we no longer need, rather than throwing it straight in the bin.

    6. Buy a safe for your personal information at home.

    7. Don’t give any personal information or credit card details to anyone via phone or email unless you are sure the site is secure, and or you can verify the company details.

    8. Be aware of who gets your personal information and for what purposes. What can these people do with the information they are gathering? For instance, is it really necessary for the site you are registering on to have your date of birth?

    9. Keep up to date with the latest scams by subscribing to the government’s ‘SCAM watch’ website.

    10. Check your credit file for free every 12 months. By requesting a copy of your credit file from one or more of the major credit reporting agencies, you can be aware of any discrepancies which may need to investigated. Often it is only through a credit check which comes back with defaults on your credit file that many realise they have been victims of identity theft.

    Report any incident of identity theft, no matter how small, or even if you have been reimbursed for the damage – to the Police. The more people that report identity theft, the more effective will be Australia’s Government and Police response to it.

    If you are already an identity theft victim, it can be difficult to navigate the current credit reporting system to have the bad credit history removed from your credit file.

    MyCRA Credit Repairs can completely remove bad credit history such as defaults, clearouts, writs and Judgments from credit files that have errors, are unjust or just shouldn’t be there. Contact a Credit Repair Advisor on 300 667 218 or visit www.mycra.com.au for more information.

    Image: Salvatore Vuono/ www.FreeDigitalPhotos.net

     

  • Is Your Tax Refund Safe? Identity Theft Warning for Taxpayers

    Identity theftAt tax time, there are some things you need to know about to protect your identity from criminals. We look at the two most common types of identity fraud associated with tax refunds, and look at what you can do to ensure you don’t lose your refund, or become an identity theft statistic with a bad credit rating that will be a nightmare to recover from.

    By Graham Doessel, Founder and Chief Executive Officer of MyCRA Lawyers

    Criminals Lodging Fraudulent Tax Claims

    There have been reports over recent years of Australians unable to lodge their own tax return, because they have found that one has already been lodged in their name. Fraudsters have been able to canvas the tax file number and personal details such as full name, address and date of birth of the individual, and have lodged a claim in their victim’s name, pilfering the return before the victim has even thought about putting their tax in. These people are also vulnerable to bad credit through identity theft – if fraudsters take out credit in the victim’s name as well.

    It was reported in Ninemsn yesterday that the Australian Taxation Office (ATO) blocked payments worth $40 million last year that would have gone to criminals. This represents more than double the revenue the tax office protected the previous year in identity crime-related cases – with the reported interception of 8,000 fraudulent tax claims.

    But officials tell Ninemsn they have little idea how much money they lose to identity thieves who con them into actually paying out on fraudulent returns. Last year it was reported in The Telegraph that in the previous financial year the number of stolen tax file numbers suspected of use in identity fraud topped 31,200 – from 12,669 the previous year.

    How do criminals get your tax file number?

    The ATO recently sent out a media release warning about the recent surge in fake job adverts over the internet asking prospective employees to provide their tax file numbers as part of a job application or once they are made an offer of employment, which is later withdrawn.

    Ninemsn also reports temporary visa holders such as foreign students are offered cash for the tax file numbers they will no longer need once they leave Australia.

    They also say sometimes rogue tax agents are involved.

    “People are trusting people they shouldn’t,” Greg Williams, a deputy commissioner in the ATO’s compliance division told Ninemsn.

    People who share the same name and birthday are also in the “at risk” category.

    But Ninemsn reports, the reasons go deeper:

    “… Brett Warfield, a forensic accountant and fraud specialist at Warfield & Associates, said the biggest threat comes from organised crime groups lifting wholesale identity and salary information on employees from private firms or government bodies, either by hacking into company databases or convincing insiders to leak it.

    They then use this pilfered data to lodge hundreds of forged submissions with the ATO, he said.

    “They tend to submit the tax returns fairly quickly after the end of June to beat the real taxpayer,” said Mr Warfield.

    He added that crime gangs still have to outsmart the ATO’s sophisticated fraud risk filters, which cross-check claims against data such as previous entries on income and expenses, mailing addresses and bank account details for wiring refunds.

    But when ninemsn used freedom-of-information laws to find out how many such fraudulent returns the ATO fails to intercept, it admitted it does not measure or even estimate its losses.

    This is despite increases in funding to detect fraud as well as criticism from the Commonwealth Ombudsman that the ATO fails to investigate or attempt to recover funds in cases of identity theft where losses were deemed “relatively small”.

    An ATO spokeswoman said its focus is on detecting fraudulent claims before refunds are paid out — a strategy they say is more effective than trying to recoup sham refunds that have already been issued.

    What to do if someone has made a fraudulent claim on your tax refund

    Contact the ATO immediately. Last year the ATO established a “client identity support centre” to assist people whose identities were stolen. You could also contact and make a formal complaint to the Commonwealth Taxation Ombudsman if you are unable to come to a solution or been able to lodge your correct refund.

    Considering the very important personal information these fraudsters have for you, you should order a copy of your credit file as soon as possible. Check it carefully to make sure there have been no attempts, nor successes in obtaining credit in your name. Notify Police if you find anything strange on your credit file – look for address changes, credit enquiries you didn’t make, and credit accounts.

    If criminals have been able to take out credit in your name, it will mean you may have incurred some repayments in arrears and Creditors could be in the process of adding a default or other negative listing to your credit file, even if it doesn’t show up as such right away. You should contact those Creditors as soon as possible to advise them of the identity theft.

    For tax crime, which is a Commonwealth indictable offence, Police may advise you that as an identity theft victim, you could be eligible to apply for a Victims of Commonwealth Identity Crime Certificate – which can go a long way in helping to prove you didn’t initiate any credit taken out in your name. This could mean you would be able to recover your ability to obtain credit in your own right and could help with debts that have been incurred in your name.

    Fake tax refund scams

    On the other side of the coin, if you have been able to successfully lodge your tax return with the ATO, beware of fake emails claiming to be from the ATO asking for confirmation of personal details in order to send your refund to you – or for you to claim your refund.

    Here’s what one of these emails might look like, but they take many different forms (picture courtesy of ATO Online Security webpage):

     

    scamWhat you should do if you receive an email like this

    The ATO advises it will never email you asking for personal or credit card details and you should never provide this information.

    One version of this scam contains an attachment infected with a virus. This email purports to be from the ATO and asks for the recipient to complete the attached form to receive a tax refund. There is zip file attached to the message that contains a malicious program. If you receive an email like this, do not open the attachment.

    Under no circumstances should you give personal information including credit card or banking details. Anyone who has received a suspicious phone call or email should contact the ATO immediately.

    A good way to stay ahead of scams and other ways your identity and credit file could be at risk, is to sign up to the Government’s Stay Smart Online alert service, which will inform you of new scams as they unfold, and hopefully prevent you from becoming a victim, losing money and incurring debt and bad credit as a result.

    To get a free copy of your credit file, or if you need help to recover your clean credit file after identity theft – we might be able to help. Contact a credit repair advisor on 1300 667 218 or visit our main site for more details www.mycralawyers.com.au.

    Image: Arvind Balaraman/ www.FreeDigitalPhotos.net

  • Attorney-General’s survey shows identity theft is on mind of most Australians

    A national identity theft survey reveals that most of us are worried about identity theft, and the number of us who have been or know someone who has been a victim of identity theft has increased. We look at what the survey reveals, whether these fears are founded, and what we can do to alleviate them.

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

    The Attorney-General Nicola Roxon has published results of a nationwide survey into identity theft. The research released today was commissioned by the Attorney-General’s Department and repeats a similar id theft survey conducted in July 2011. The key findings include:

    • 89 per cent of respondents are concerned about identity theft and 61 per cent think identity theft will increase in the next year

    • 24 per cent of respondents had been, or knew someone who had been, a victim of identity crime in the last six months – an increase of seven per cent since 2011

    • When identify crime occurred, 58 per cent involved the internet, through either a virus or an online scam, 35 per cent involved the loss of a credit or debit card, 18 per cent involved mail theft and 9 per cent involved the theft or loss of physical identity documents such as a passport and drivers licence.

    The results of this research will inform the review of the National Identity Security Strategy currently being undertaken by the Department in conjunction with the States and Territories.

    Ms Roxon assured Australians there were solutions and preventative measures to combat the ongoing problem of identity crime, which is one of the top three enablers of serious and organised crime in Australia, and can have serious financial implications for business, governments and individuals.

    “While identity theft is understandably concerning, Australians can take some simple steps to protect their identity,” Ms Roxon said in a statement to the media.

    “Making sure you don’t respond to suspicious e-mail or store personal details on your mobile phone are two easy steps to prevent identity theft.”

    She also made mention of the Document Verification Service – currently a government agency service which allows key identity documents such as passports, driver licenses and birth certificates to be cross-checked between departments. The government will roll out the DVS to the private sector next year.

    “From next year, the financial and telecommunications sectors will be able to access the DVS to check Commonwealth identity documents, such as passports and visas – further helping the private sector to protect their customers’ identity,” she said.

    Should Australians be afraid of identity theft?

    From our point of view, the more you are educated about identity crime and how to prevent it – the less fear it sparks in your mind.

    Let’s look at a broader survey – the Australian Bureau of Statistics Personal Fruad Survey. This surveyed a total of 1.2 million Australians over 2010-11 and was released in April this year.

    Whilst it was reported that Australians lost in total $1.4 billion due to personal fraud, the ABS puts the national vicitmisation rate for actual identity theft at 0.3% (a decrease from 0.8% in 2007).

    Perhaps there has been an increase in identity theft since the ABS survey was published, but what may likely have occured, is that people are talking about identity theft more. It could be that more people “know someone” who has been a victim of identity crime or personal fraud. Could we assume that more people are talking about their experiences, and hopefully reporting instances of fraud and identity crime?

    Without people reporting instances of identity theft, it is difficult to get ahead of fraudsters.

    It is a very real fact that full-blown identity theft – where someone steals your personal information and assumes your identity – can have very disastrous consequences. Identity fraud can involve crooks taking loans out in your name. This not only means you could be lumbered with random debt, but often you are unable to get any loan of your own for 5-7 years because your credit file is blacklisted when these debts fall into default.

    The message we want to send is that your personal information needs to be guarded well. If you safeguard your personal information as much as possible, you put yourself at less risk of identity theft.

    Educate yourself on the ways that fraudsters could misuse your personal information or your credit rating. Put as many preventative measures in place as you can (such as anti-virus software, paper shredder, safeguarding information, regular credit file checks) to ensure that you have the least possible chance of becoming a victim.

    And most importantly, stay up to date with scams that are out there. Identity crime and scams are changeable – what worked for fraudsters one week quickly becomes public knowledge, so they move on to something new. Getting on to something like StaySmartOnline’s Alert Service, or checking SCAMWatch regularly will go a long way to helping you to stay ahead of identity crime.

    And talk, talk, talk about what you know about identity theft, to help educate the community around you. Talk especially to young people who might not fully understand the consequences of giving away their personal information (and there are consequences even for under 18’s) and also talk to older people – who may be more vulnerable to these predators and could need help with education and updates to computer software.

    If you or someone you know have been a victim of identity crime which has impacted your credit rating, all may not be lost. We may be able to help you recover your good name. Contact a Credit Repair Advisor on 1300 667 218 to discuss your suitability for removing bad credit, or visit our main website for more information www.mycra.com.au.

    Image: Salvatore Vuono/ www.FreeDigitalPhotos.net

    Image 2: phanlop88/ www.FreeDigitalPhotos.net

  • 7 ways to be smarter with your money and clean out the cobwebs on your finances this spring

    Are your finances in need of a spring clean? Well this week is MoneySmart Week in Australia. We give you some inspiration to get in and tidy up those loose ends with your money and also your credit file – with our 7 ways you can be smarter with your money.

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

    MoneySmart Week is being held 2-8 September in Australia. It has some major Ambassadors, including our Governor-General Her Excellency Ms Quentin Bryce AC CVO and money commentator Paul Clitheroe.

    MoneySmart Week is an independent, not-for-profit national initiative promoting the importance of financial literacy. The MoneySmart week website explains the importance of financial literacy:

    MoneySmart Week 2012 includes:

    • A call to action for all Australians to take the next step in their financial health: ‘Do a Money Health Check’.
    • A National Awards program to recognise outstanding achievements in financial literacy.
    • Promotion of existing money management programs, tools and resources.
    • A range of special activities and events in workplaces and the community.

    Why is financial literacy important?

    Financial literacy is about understanding money and finances and being able to confidently apply that knowledge to make effective financial decisions. It affects quality of life, opportunities we can pursue, our sense of security and the overall economic health of our society.

    To find out more about financial literacy, visit www.financialliteracy.gov.au

    Do you consider yourself smart with your money? Many of us do I am sure, but are we always completely on top of everything? You can check how you rate by taking part in the Money Health Check – an online questionnaire to test how savvy you are with your personal finances. We would encourage everyone to get in and do the Health Check or at the very least, dust the cobwebs off those financial documents and make sure everything is in order.

    We have devised some reminders for getting your finances together:

    7 ways to be smarter with money this spring

    1. Make a money ‘map’ to ensure you are aware of what you have, what you don’t and what you owe. This is the best way to be clear you are living within your means. By doing up a money map, you will have the benefit of knowing where you can squirrel away extra cash to help pay off any debts faster – you may have never known you had that extra money available without creating a budget.

    For help with putting together a money plan ASIC’s MoneySmart website has a great budget planner. The Victorian Government’s Money Help website also has some great tips.

    2. Make debt reduction a priority. Any extra cash that comes your way would be well used by reducing debt – especially those debts where the interest rate is high.

    3. If you are able to, put extra onto your home loan. Increasing your mortgage repayments even slightly, can see you cut years off your home loan

    4. Make sure every bill will be paid on time. This can come down to organisation as much as funds. With new credit laws on the horizon meaning lenders will be recording bills that aren’t paid on time as “late payment notations, it is advisable to get into the habit of paying your bills well before the due date every time to ensure you don’t miss one, and threaten your credit file health and ability to obtain credit  in the future.

    Bills missed past 60 days will mean your credit file is defaulted and you will face 5 years of bad credit – so it is absolutely essential to get repayment schedules right.

    5. Assess your insurances – are they the best plans for your needs? Are they accurate and up to date?

    6. Check your credit file – take advantage of your free annual credit report. A free copy of your credit report can be obtained from one or more of Australia’s credit reporting agencies – Veda Advantage, Dun & Bradstreet, and Tasmanian Collection Services (if in Tassie). Your free report will be mailed to you within 10 working days.

    When you get your credit report back, here are some things to check for:
    -Check your name is correct
    -Check your date of birth is correct
    -Check your driver’s licence number matches up
    (If any of those things are not correct – you may be vulnerable to identity theft or mistakes on your credit report).
    -Check your address history is correct
    (If there is an address you don’t recognise on your credit report – this could also mean you may have been a victim of identity theft, or mistakes have been made in credit reporting where credit has been issued to your credit file incorrectly).

    -Also assess each credit entry and make sure it is correct.
    Are all the credit enquiries initiated by you? This is one of the first signs of an identity theft attempt.

    If you have a default – should it be there? Is it yours? Is it fair? If a default is deemed unlawful, it may be required to be removed by your Creditor.

    There are a number of reasons why a default could be unlawful – including errors, mistaken identity and incorrect details as well as unfair listings and listings where an incorrect amount of notice has been provided to the client.

    For help with ordering your free credit report, and also repairing bad credit which shouldn’t be there, or if you just want to see whether you qualify for credit repair – contact a MyCRA Credit Advisor on 1300 667 218 or visit our main site www.mycra.com.au for more information.

    7. If you’re throwing out any old papers – make sure you shred them. Your financial security is paramount, and the amount of personal information on many of our financial documents could be enough for a fraudster to go about trying to steal our identity. Unfortunately there have been cases of crooks sifting through rubbish to find this kind of information in order to piece together enough to go about requesting replacement copies of your identification. This gives them a ticket into your life – your bank accounts, your tax and potentially your credit rating. Fraudsters have been known to take out loans in the name of their victims – leaving them with debt and a damaged credit file.

    The process of fixing bad credit after identity theft can be complicated. In some cases it has taken years to put right. So buy a good shredder, and cross-shred every piece of identifiable information before you throw it away.

    Why spring is a good time to take stock of your money…

    • It’s tax time. If you are due a refund – you will then know the way to make the best use of your return. Likewise if you are expecting a tax bill – you will know where you might be able to skimp to come up with the extra money you will need.
    • It’s almost Christmas time. If you want to budget well for Christmas – you can start now.
    • It’s transfer time. If you know you will changing jobs; moving interstate or downsizing jobs you can budget for any extra expenses that will ensue.
    • It’s almost holiday time. If you want a holiday after Christmas, or you want to take time off with the kids in the New Year you can budget this in as well.

    For the same reasons above you may also need to BORROW money and this is why checking your credit file and alleviating any inconsistencies is important well before you may need  to apply for credit.

    Basically it is ‘finance time’ and if you can allocate space in the spring time every year that you can dedicate to making sure your finances are as they should be – then you will be on your way to being savvy with your “everyday money” every day of the year.

    This information is intended for general purposes only and should not constitute financial advice nor replace seeking help from a professional financial adviser.

    Image 2: smokedsalmon/ www.FreeDigitalPhotos.net

    Image 3: David Castillo Dominici/ www.FreeDigitalPhotos.net

  • Lost your job? Three things you need to know to prevent bad credit haunting you long after you get a new one

    unemployedJob hunting and credit files seem unrelated – but they are connected for three reasons. We tell you how when you have lost a job, or when you are in the process of finding a new one, there are some things that impact your credit file that you need to know about. If heeded – they can help you avoid bad credit.

    By Graham Doessel, Founder and Chief Executive Officer of MyCRA Lawyers

    Yesterday, an article from SavingsGuide.com.au What To Do When You Lose Your Job caught my eye. It went through the things you need to do to make sure you remain in the black with your finances after you have lost your job. This article is the inspiration for the first piece of advice:

    1. If You Have Lost Your Job – Sit Down and Work Out What You Owe and What is Owed To You

    Even if you think the situation is very temporary – you don’t have a crystal ball. Put measures in place straight away to protect yourself and your family from debt and bad credit.

    Savings guide recommends taking advantage of any insurance policies of income or mortgage protection that you have in place immediately. It could take a little while to process the claim. If you don’t have insurance, don’t be too proud to apply for assistance with the Department of Human Services. The sooner you do this the better, as it could take up to a few weeks to process the claim.

    You will also need to work out how much disposable income you have now, and tally up all of your bills that you consider will appear in the future.

    ASIC’s MoneySmart Website has some great advice and specific links for further information on what to do if you find yourself unemployed. Here is an excerpt from their web page titled Losing Your Job:

    Knowing where you stand financially

    You will feel able to make clearer decisions once you know how much money you really have. Find out what you have in savings, then list every expense you’ll have to meet for the next 2 months. Use our budget planner and include necessities like mortgage payments, loans, health care, medicines, car and home maintenance, and insurance premiums.

    What you want to do is avoid getting in arrears with your accounts at all costs. It only takes 60 days in arrears on any account to get into ‘default’ with creditors, and this notation on your credit file will mean you will probably be blacklisted from credit for 5 years – even if you find another job and get everything back on track a month or two later.

    Once you have worked out how long your current funds are going to last, you will be in a good position to do the next task…

    2. If You Have Lost Your Job – You Need to Put Your Hand Up and Tell Your Creditors

    Don’t wait until you are in arrears (or in debt up to your eyeballs!) to let your Creditors know. As SavingsGuide recommends, negotiating with Creditors early is the smart thing to do:

    “Whether it’s your mortgage or a monthly gym membership fee, you’re going to need to address these payments before they get out of hand,” writer Toria Phillips advises.

    Financial hardship variations are encouraged in many industries, with new regulations having just been brought in for both the finance and telco industries.

    Money Help, a website run by the Victorian State Government offers more help on how to apply for hardship with creditors in the correct way. They advise people to work out what they can afford to pay prior to requesting a hardship variation – so if you have done this you will have a better chance of coming to a more affordable arrangement with your Creditor.

    The Creditor may be able to offer reduced payments and in some cases could stall any movements to default your credit file if you happen to get in arrears.

    Creditors are legally required to consider a person’s request for variation on payment arrangements, but are not obliged to agree to any hardship variation proposal put forward. But there is a trend towards offering help before defaults – so it is crucial to ask.

    Having your current debts at a more manageable level will allow you to concentrate on the actual process of finding a job. But beware (as if you didn’t have enough to worry about) whilst you are looking for a job you also need to look out for fraudsters…

    3. Job Seekers Scam Warning – Be Wary of Giving Away Your Personal Details To Scammers

    Last week the Australian Taxation Office issued a warning to job seekers that they were the target of scams. It reports they have received more than 10,000 reports on a wide range of scams including fake job advertisements, emails and bogus phone calls.

    Tax Commissioner Michael D’Ascenzo explains the job seeker scam – that bogus job ads are being posted on recruitment websites by scammers, and that people are even being asked to provide their tax file numbers.

    “Personal information can be used by scammers to lodge false tax returns in your name, enable the use of your credit cards or even result in people taking out a loan in your name. In some cases, identity crime can take years to resolve,” Mr D’Ascenzo says in a statement to the media.

    Becoming a victim of identity theft is the last thing a person who has lost their job needs. This crime could mean what little money you may have left in your bank accounts is drained by fraudsters; or a much-need tax return is pilfered; or it could even mean you have debts in your name you did not initiate and your ability to obtain credit is compromised for years to come.

    Don’t ever give a potential employer your Tax File Number, banking details or any other crucial personal details until you begin work with them! If you’re not sure – you can always contact the Australian Competition and Consumer Commission (ACCC) to dispel any suspicions before you give away your personal information. You can call them on 1300 795 995 or visit the ACCC’s SCAMWatch website www.scamwatch.gov.au.

    Let’s hope your unemployment is only very temporary and you are able to keep your credit file free from bad credit during the process!

    If you are currently experiencing bad credit due to a temporary financial hardship such as a job loss, it may be worth assessing whether your credit history can be reviewed by a professional credit repairer. Any listings which are deemed unlawfully placed for whatever reason could be required to be removed by your Creditor. Contact a Credit Repair Advisor on 1300 667 218 or visit our main website www.mycralawyers.com.au for more information.

    This week running 2-8 September, is MoneySmart Week – Australia’s first ever national, not-for-profit, financial literacy awareness week. For more details visit the Australian Government Financial Literacy Board initiative www.moneysmartweek.org.au.

    Image: winnond/ FreeDigitalPhotos.net

  • Carbon price scam warning for Australians. Advice to protect your good credit history

    The ACCC’s SCAMwatch has released a warning for Australian consumers and businesses about carbon price scams. Fraudsters are out there trying to pilfer personal information and banking and credit card details from unsuspecting recipients under the guise of pretending to be helping them recover carbon credits and compensation. We explain what this scam is in detail, and how your credit file could be compromised.

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

    Carbon price scammers are out in force again. The scam may come in a number of forms, targeting consumers and businesses across the country.

    Here are some examples for you to look out for provided by SCAMwatch:

    • People are telephoned and asked to provide their bank account details to a caller claiming to be from the Department of Families, Housing, Community Services and Indigenous Affairs (FaHCSIA). They are offering a grant for mortgage assistance under the Federal Government’s Household Assistance Package of up to $100,000. These offers are false.
    • People have had phone calls seeking their personal banking details to pay carbon ‘tax’ compensation into their bank account – these are likely to be a scam.
    • Scammers may also know people’s names, addresses and phone numbers and may try to make an appointment to visit them in their home.
    • Scammers may set up fake websites which look very similar to official Australian Government websites. The sites may ask people to enter personal or financial details, or offer to sell people fake carbon credits.

    Here is how SCAMwatch recommends consumers and businesses protect themselves from these scams:

    Protect yourself

    The Australian Government will never call you to ask for your bank account details or to receive the Household Assistance Package. Government services are never paid via money transfer services, nor will they ever ask you to send money this way. The Australian Government website www.australia.gov.au is a safe portal for finding government services.

    If you receive a phone call or letter asking for personal information such as your Tax File Number, Veteran’s Affairs client number or banking details, do not answer straight away. Contact the Australian Taxation Office on 13 28 61 or your nearest DVA office on 133 254 (or 1800 555 254 if in regional Australia) to confirm that the source is legitimate.

    Never provide or confirm your personal or business details over the phone (including banking details or identification numbers) unless you made the call using contact details you found yourself and you trust the information.

    If you think that a call might be a scam hang up and check by using official contact details which you have found independently such as through a phone book or online search. Never use phone numbers, email addresses or websites provided by the caller.

    Never enter your credit card or banking details on a website unless you have checked it is authentic and secure. Legitimate websites which ask you to enter sensitive personal or business details are commonly encrypted to protect your details. A secure site is usually identifiable by the use of “https:” rather than “http:” at the start of the internet address, or by a closed or unbroken key or padlock icon at the bottom right corner of your browser window.

    If you are a business, make sure you only deal with people you know and trust. Avoid having a large number of staff authorised to make orders or pay invoices. This will reduce the risk of your business paying for something that it is not required or is not legitimate.

    If you think you have provided your account details to a scammer contact your bank or financial institution immediately.

    Further to this, if people think they may have provided personal information to scammers then they may be vulnerable to identity theft.

    Apart from contacting their bank, here are three more things which are imperative for people to do if they think they might be vulnerable to identity theft:

    1. Contact Police. They can take some information about what happened and file a report – which you may need later if you do find your accounts and or your credit history compromised.

    2. Request a copy of your credit file. Check that everything is up to date, addresses are correct for you, and that there are no suspicious entries – like strange credit enquiries, or loans you have no knowledge of.

    3. Contact the Credit Reporting Agencies. Contact Veda Advantage, Dun & Bradstreet and Tasmanian Collection Services (if in Tassie). Let them know that you may be vulnerable to identity theft. They should be able to alert you to any new entries if they arose that could point to someone attempting misuse your good credit history.

    You may also wish to contact the ACCC to report the scam.

    If you are having trouble recovering your ability to obtain credit following identity theft, we might be able to help. Contact a Credit Repair Advisor on 1300 667 218 to discuss your circumstances.

    Image: Stuart Miles/ www.FreeDigitalPhotos.net

    Image 2: David Castillo Dominici/ www.FreeDigitalPhotos.net

  • W.A Government to toughen up on identity checks to combat identity fraud

    Western Australia’s Births Deaths and Marriages just got that little bit harder to swindle with the introduction of tighter identity controls to prevent identity theft and fraud. The changes come into effect next week and will mean anyone who applies for a birth, death or marriage certificate or a name change will have to provide at least three forms of current identification. We look at what these changes will mean in preventing fraud and subsequent bad credit history that shouldn’t be there, and why the positives of increased security outweigh any ‘inconvenience’.

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

    Attorney General Michael Mischin told Perth Now yesterday these tighter measures are designed to ensure those who are entitled to access personal information can do so easily, while deterring those who are not.

    “In the past few years thousands of West Australians have been affected by identity crime with millions of dollars stolen from innocent people,” Mr Mischin said.

    Under WA law people can face up to seven years jail if they produce, use or supply another person’s identification when there is intent to use that information to commit a crime, or facilitate someone else to commit a crime.

    The nature of this form of identity crime is pretty complicated, but the payoffs for the criminals would be huge. This type of identity fraud involves the use and misuse of someone’s personal information. Fraudsters may have one piece of the identity puzzle that they may have obtained from somewhere – say a credit application dumped un-shredded in a rubbish bin, personal details from social networking, or perhaps a stolen wallet containing a licence or bank account. What the fraudsters then do is look at piecing together different bits of information – requesting replacement copies of basic identity documents, even changing addresses until they have enough information to commit fraud. The icing on the cake for this type of identity fraud – would be obtaining a replacement copy of an actual birth, death or marriage certificate.

    If fraudsters had this type of document, they could easily apply for new credit in their victim’s name – even going so far as to mortgage a property in their victim’s name.

    The ramifications of this crime would be absolutely devastating for the victim. They would not only be in debt thousands and thousands of dollars, but also facing a series of defaults against their name which would stop them getting credit in their own right for a very long time (up to 7 years).

    Western Australia has not been without its share of well-publicised fraud cases. One such bout late last year involved the mortgaging of properties owned by overseas investors.

    In 2010 Wembley Downs retiree Roger Mildenhall had his Karrinyup investment property sold without knowing anything about it. And in 2011 Nigerian-based scammers sold a Ballajura property without the owners’ knowledge.

    The previous owners were living and working overseas at the time and didn’t discover the property had been sold until they returned to Perth to inspect the property.

    The real estate agent involved has told investigators that he received a phone call from a man claiming to be the owner in February of 2011 inquiring about the property. Shortly after, the agent received an urgent request to sell the property as funds were needed for a business investment, later revealed to be a supposed petro-chemical project –  Landgate announced in a statement in September last year.

    Following this, the WA Government was prompted to upgrade its security measures for overseas-based property owners.

    “WA property owners living abroad who are concerned about identity theft can now lodge a caveat over their property to reduce the risk of being targeted by scammers, under a raft of anti-fraud measures introduced by Landgate,”Lands Minister Brendon Grylls said at the time.

    “They could remove the caveat only by attending Landgate’s Midland office in person and completing a 100-point identity check”, Mr Grylls said.

    Under the range of increased security measures, all transfers of land executed overseas now requires a 100-point identity check, signatures to be witnessed by an Australian Consular officer and the sales will need to be independently checked by at least two senior Landgate officers.

    The introduction of new security at the Births, Deaths and Marriages Departments seems a no-brainer, and a change which should be going across the board in every Australian State.  A person’s identity and their credit file are the flag for their financial life, and to allow any fraudster opportunity to mess with that through less than bullet-proof security of their personal information is to do them a great disservice.

    If you have been a victim of identity theft – whether you have lost money or not – don’t forget three important rules…

    1. Tell Police and/or the ACCC. We must report these crimes – however “embarrassing” it may be.

    2. Tell your Creditors. Just because nothing has happened yet, doesn’t mean it won’t in the future. Alert them to your identity theft vulnerability before you become a victim and your bank accounts or credit rating suffers.

    3. Check your Credit File. Make sure you have not had credit taken out in your name. If you haven’t – warn the credit reporting agencies that you may be vulnerable to identity theft.

    If you find defaults on your credit file which should not be there, you may require help to recover your good name. Contact a Credit Repair Advisor on 1300 667 218 to discuss your suitability for credit repair or visit our main site for more information www.mycra.com.au.

    Image: photostock/ www.FreeDigitalPhotos.net

  • Dating scam victims most likely to be vulnerable to identity theft

    The Australian Institute of Criminology (AIC) Consumer Fraud Taskforce has published results of an online consumer fraud survey conducted in 2010 and 2011. There have been some interesting revelations, particularly the likelihood that dating scam victims can suffer both financial loss and disclosure of their personal details (the building blocks of identity theft). We look at this survey in detail, and what the results could mean for the health of your credit rating.

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

    The AIC’s Online Consumer Fraud Survey was published last week.

    This report presents the results of the 2010 and 2011 surveys, which each ran for three months commencing from 1 January and encompassed National Fraud Prevention week that coincides with global awareness-raising activities. The theme of the 2010 campaign was Online Offensive—Fighting Fraud Online, which focused on the increased prevalence of online fraud. In 2011, the campaign Scams—It’s Personal aimed to increase awareness about personalised and targeted frauds and scams.

    Both surveys explored scams where respondents had been contacted by phone, SMS, email, letter, via the internet and/or in person by someone that they did not know in relation to:

    • having won a lottery or some other prize (lottery scams);
    • a request for assistance to transfer money out of another country (such as Nigeria; advance fee frauds);
    • a notification of an inheritance (inheritance scams);
    • a request from a business to confirm personal details or passwords (phishing scams);
    • a request to supply financial advice (financial advice scams);
    • an opportunity to work from home (a front for money laundering; work from home scams);
    • pursuing a personal relationship that turned out to be false (dating scams); and
    • other fraud types.

    It was found about 1145 people who responded to the survey lost almost $7 million in 2011 to scams.

    Dating scams were the most likely to result in financial loss or the disclosure of personal details, with almost half of victims reporting they had lost money. Dating scams are more complex and can use identity fraud, along with information gathered from social networking sites, to target and groom particular individuals.

    In 2010, people aged 45 to 54 reported the highest percentage of victimisation. In 2011 the age group with the highest victimisation rate shifted to those aged 65 years and over.

    Assistant Treasurer David Bradbury says it is important that anyone targeted by a criminal scammer report it to the Australian Competition and Consumer Commission on 1300 795 995.

    “Even if the amount of money or information involved seems small, the same scammer could be targeting other people and that information can help prevent more fraud,” Mr Bradbury said in a statement to the media last week.

    Here is an excerpt from the AIC’s report, on the findings of that survey:

    Scams were received by a large proportion of the survey respondents—89 percent in 2010 and 94 percent in 2011. While lottery scams, advance fee frauds, phishing and work from home scams were the most common types of scams received, they were not necessarily the ones that resulted in the highest levels of victimisation. Dating scams, although less prevalent, were the most likely to result in the disclosure of personal details or a financial loss when a respondent was exposed to them. This finding is consistent with scam complaints made to the ACCC (2012a) and indicates that it is not sufficient to just raise awareness about the most commonly received scam invitations, but there must also be a focus on the more obscure scams.

    The results of the number of people falling victims to scams, and the types of scams people have fallen for year to year have changed. This sends some messages about scams:

    1. Education is working. Once consumers are made aware of a scam in the community – it might be likely that victim numbers fall for that particular scam.

    2. Fraudsters are concocting new scams all the time. Because consumers are getting educated – fraudsters are changing scams all the time. Consumers need to be on their guard for new scams.

    3. Just because people have not identified a monetary loss, does not mean the personal details that fraudsters have been able to obtain will not be used at some future time for purposes of identity theft.

    4. The number of people reporting scams is still fairly low – are we all getting too blasé about scams – and at what cost?

    Here is another excerpt from the AIC’s report:

    One of the salient findings from the surveys was the low reporting rate to law enforcement and regulatory agencies. The main reasons provided for not reporting were not thinking anything would be done, being unsure of which agency to contact and perceiving that reporting was not worth the effort. A failure to report scams is problematic, in part because it reduces knowledge and understanding of the nature and extent of scams, not only for creating awareness about current threats, but also in coordinating law enforcement investigations and collecting evidence about small-value, high-volume frauds that may affect a large number of victims. A focus on the reasons why scams were reported, namely preventing others from being scammed, knowing it was the right thing to do and to assist in investigating and apprehending offenders, may be useful in the development of future education campaigns that encourage others to report scams.

    How scams can affect the victim’s credit rating

    For people who have fallen for this type of scam, generally they are robbed of money. But in some cases, the fraudsters can have enough personal information about their victims to be able to get credit cards or loans or even mortgage properties in their name.

    The costs can be significant long term for the victim and are magnified by the fact that fraud is not often detected until the victim attempts to take out credit in their own name and is refused due to credit rating defaults they didn’t initiate.

    It can be quite a shock for someone to realise their entire financial freedom has been taken away, along with any monies that have been stolen from them. Basically someone with credit file defaults finds it extremely difficult to obtain credit for 5 years while the listing is part of their credit record.

    Any kind of credit account (from mortgages and credit cards through to mobile phone accounts) which remains unpaid past 60 days can be listed as a default by creditors on the victim’s credit rating. Credit rating defaults remain on credit files in Australia for 5 years. The consequence of people having a black mark on their credit rating is generally an inability to obtain credit.

    By law in Australia, if a credit listing contains inconsistencies or is incorrect, the credit file holder has the right to negotiate their amendment or removal, but the difficulty is, to clear their good name, the identity theft victim needs to prove to creditors they did not initiate the credit. Not only are victims generally required to produce police reports, but large amounts of documentary evidence to substantiate to creditors the case of identity theft – another reason for vigilant reporting of scams when we come across them.

    For those respondents of the AIC’s survey that revealed disclosure of personal details, I sincerely hope they were advised to keep an eye on their credit report as well as their bank accounts.

    Often going unchecked until the time of credit application, an identity theft victim’s credit report can often be the first sign they have been duped – and by then they can have debts owing and defaults or other listings ruining their financial futures and ability to obtain credit in the future and any signs of the perpetrator of this event can be long gone.

    For advice on how to keep an eye on your credit report if you feel you may be vulnerable to identity theft or if you wish to try to recover your credit file following fraud – contact MyCRA Credit Rating Repairs on 1300 667 218 or visit our main website www.mycra.com.au.

  • Australia has new privacy legislation to fight worldwide cybercrime

    New laws passed the Senate yesterday changing Australia’s privacy legislation to bring us in line with other countries and pave the way for Australia to accede to the Council of Europe Convention on Cybercrime – effectively allowing Australia to work alongside other countries to share and access information to aid in investigations of cybercrime. We look at the implications for this new bill, and the benefit in investigating fraud cases which can not only lead to loss of monies but negatively impact the victim’s credit file.

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

    We have been following the passage of this Bill through Parliament for over 12 months, since its introduction into the House of Representatives in June. See http://mycra.com.au/blog/2011/06/government-brings-laws-war-cyber-crime-identity-theft/ and http://mycra.com.au/blog/2011/11/bill-fight-global-cybercrime-coming-year/ and looking at the possible impact these changes could have on identity theft numbers.

    The Cybercrime Legislation Amendment Bill 2011 amends the Mutual Assistance in Criminal Matters Act 1987, the Criminal Code Act 1995, the Telecommunications (Interception and Access) Act 1979 and the Telecommunications Act 1997.

    The Government amended the Bill in the Senate to address some of the recommendations made by the Joint Select Committee on Cyber-Safety, including privacy protections and aspects of the provision of assistance to foreign agencies. The Government has agreed in principle with 12 of the Committee’s 13 recommendations.

    The passing of the Bill means Australia is one step closer to acceding to the Council of Europe Convention on Cybercrime, meaning it would join 34 other nations that have already become a party to the Convention. The Convention is the first international treaty on crimes committed via the Internet and other computer networks, dealing particularly with computer-related fraud, child pornography and violations of network security.

    Attorney-General Nicola Roxon said in a statement to the media yesterday that the Convention will help make it easier for police to track down cyber criminals around the world.

    “In particular, this will help combat criminal offences relating to forgery, fraud, child pornography, and infringement of copyright and intellectual property.

    “The Convention promotes a coordinated approach to cybercrime by requiring countries to criminalise these computer related offences. The Convention also establishes procedures to make investigations more efficient to improve international cooperation,” Ms Roxon says.

    Privacy Protection or Privacy Invasion?

    One well publicised change to Privacy Law will be the increase in police powers of surveillance. Police will be able to enforce the retaining of data by internet service providers on persons of interest even before they have an arrest warrant.

    Whilst these legal changes are widely approved, some raised concerns during a Senate inquiry into online privacy that this part of the law threatens the Privacy of individuals and threatens human rights and civil liberties.

    There are so many reports that the world is effectively chasing the tail of cybercriminals – the extent of which is far-reaching and difficult to combat. Australia is reportedly now a prime target for fraud with many accounts of scams, bugs, phishing attacks etc etc often instigated from overseas shores.

    To find out more about how we as ordinary Australians fit into the cyber-crime puzzle, you can read our blog post about the ‘Dark Market’: http://mycra.com.au/blog/2011/09/insight-%e2%80%98dark-market%e2%80%99-cyber-crime-underworld/.

    And often by the time people know they have had fraud committed against them the dust has long settled on any trace.

    But the effects can be felt for years by their victims, especially if the fraudsters are able to steal an identity, and take credit out in their victim’s name. The victim is then not only faced with a mountain of debt, and a series of defaults against their credit file. Both of which are not easy to recover from. They have to prove it wasn’t them that initiated the debt – pretty hard when there is no actual ‘perpetrator’ that anyone can see.

    For the sake of people in this situation, and victims of other cybercrimes – in particular, child pornography which is possibly more rampant, more damaging and more difficult to investigate – we need to get united as we are on the Web.

    It may be a bitter pill to swallow for Australians to give up some of their rights to Privacy to be replaced with more privacy protection but we may all have to swallow it regardless.

    What you can do to protect your credit rating from identity theft

    Our message at MyCRA Credit Rating Repairs is: please take steps to protect your credit rating from fraud!

    Educate yourself – visit the government sites like SCAMwatch, Stay Smart Online, and the Attorney-General’s website. If you are interested in keeping up to date with what could be occurring – say in cyber-circles you can visit technology sites like ZD Net Australia, or Computerworld or even subscribe to MyCRA’s RSS Feed for updates on security issues affecting credit files.

    Know what’s on your credit file – grab a free copy of your credit file today from one or more of Australia’s credit reporting agencies, Veda Advantage, Dun & Bradstreet, and TASCOL in Tasmania which will be mailed to you within 10 days.
    Your credit report is free every 12 months – take advantage of this by ordering a copy every year. Make sure there are no defaults currently attached to your file. If they shouldn’t be there or there are errors – you may be eligible for credit repair.

    If you feel vulnerable to fraud, for a fee credit reporting agency Veda offers an ‘alert’ service, which informs you of ANY changes to your credit file such as a change of contact details or a credit enquiry, which would point to you being a victim of identity theft – possibly BEFORE there are harmful defaults put against your name.

    For more information on identity theft, or help with credit repair following identity theft, contact MyCRA Credit Rating Repairs tollfree on 1300 667 218 or visit our website www.mycra.com.au.

    Image: Victor/ www.FreeDigitalPhotos.net

    Image 2: thanunkorn/ www.FreeDigitalPhotos.net

  • Facebook finally asks users to report phishing scams

    Most people have (or know someone who has) come across some type of scam via Facebook. They’re those dodgy posts that you shouldn’t click on that get sent from your friend’s accounts without them knowing; or those strange emails in your inbox; odd friend requests; or on rare occasions complete hacking of your account. Most savvy Facebook users take it as a given that this is going to occur and that no one can do a thing to stop it. They just count themselves lucky that they are not one of the users that falls for them. Well now Facebook has finally taken the bull by the horns and decided to get active in stamping out phishing scams. FB has set up an email address to report these attempts. We look at what this means for Facebook users, the potential identity theft risks from falling for a phishing scam which could endanger your credit file and how to spot one before you get caught out.

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

    Facebook’s security page requests that if its users spot phishing scams they should report them to Facebook and its eCrime team. The intention is to help hold scammers accountable and prevent identity theft and account hacking. Here’s an excerpt from their Security page:

    New Protections for Phishing.

    by Facebook Security on Thursday, August 9, 2012 at 7:31am •

    Today, Facebook is proud to announce the launch of phish@fb.com, an email address available to the public to report phishing attempts against Facebook. Phishing is any attempt to acquire personal information, such as username, password, or financial information via impersonation or spoofing.

    By providing Facebook with reports, we can investigate and request for browser blacklisting and site takedowns where appropriate. We will then work with our eCrime team to ensure we hold bad actors accountable. Additionally, in some cases, we’ll be able to identify victims, and secure their accounts.

    You might ask yourself how to spot suspected phishing emails. Our partners at the Anti-Phishing Working Group have put together some helpful tips to avoid being deceived by these messages:

    1.Be suspicious of any email with urgent requests for login or financial information, and remember, unless the email is digitally signed, you can’t be sure it wasn’t forged or ‘spoofed’

    2.Don’t use the links in an email, instant message, or chat to get to any web page if you suspect the message might not be authentic or you don’t trust the sender, instead navigate to the website directly

    This new reporting channel will compliment internal systems we have in place to detect phishing sites attempting to steal Facebook user login information.  The internal systems notify our team, so we can gather information on the attack, take the phishing sites offline, and notify users.  Affected users will be prompted to change their password and provided education to better protect themselves in the future.

    While rare, we hope that you forward us any phishing attempts you encounter. Together we can help keep these sites off the web and hold the bad guys responsible. As a reminder, you can visit www.facebook.com/hacked if you think your account may be compromised.

    You can find out more about phishing in our Help Center. You can also forward phishing emails to any of the following: APWG (reportphishing@antiphishing.org), the FTC (spam@uce.gov), and the Internet Crime Compliant Center (www.ic3.gov).

    This is great news for FB Users, and as it may be just the impetus needed to both deter and attack these predators.

    Technology magazine ZD Net’s Eileen Brown is likewise pleased with this new response, but at the same time, questions the appropriateness of where Facebook has decided to report this information:

    The challenge is that Facebook has hidden this information in its Security notes. This is not an area where the average user is likely to visit. Facebook should place an alert at the top of the home page drawing user’s attention to the importance being vigilant and careful.

    Hiding this page away does not show the duty of care that Facebook should show to its users — especially if it wants to avoid the potential consequences of a password or account breach.

    It is only a matter of time before someone tries it… She says in the article Facebook creates new email address to fight phishing.

    Phishing scams should be a topic that every online user is familiar with, but as we reported recently in our post Identity theft risks high for pre-retirees, some sections of the community can be more vulnerable to phishing scams, and they aren’t necessarily screaming out “identity theft” – they can be well thought out scams that look like legitimate requests for information etc.

    On Facebook, both young and old can be at risk of phishing scams. One prevalent scam reported by the ACCC’s Scamwatch recently is the Facebook password scam email.

    “…the scam email enters inboxes looking as though it is an auto-generated email from the Facebook Team. It announces to subscribers that as a security measure their password has been changed and that this needs to be confirmed. Attached to the scam email are two documents with file names beginning with ‘facebook_password’  that are supposed to include the new password.

    SCAMwatch warns you not to open these attachments. If you do, you will activate a very nasty Trojan or malicious software called the Bredolab Trojan and your computer will be taken over for use by the scammers at their will.”

    If via these scams, criminals are able to gain access to information like names, dates of birth and addresses then identity theft may occur. Fraudsters can build a profile with enough information to request duplicate identity documents – enabling them to have access to their victim’s good name through their credit rating meaning they could take out loans, credit cards, even mortgage properties in their victim’s name.

    Fraudsters are never so kind as to pay the credit back -meaning the identity theft victim is hit twice – financially ruined and then locked out of credit and with no ability to borrow for 5 to 7 years.

    How to spot a phishing scam

    Scamwatch has a great article on their website titled Phishing scams on social networking sites—don’t be tricked into giving your information away! Here’s what they suggest to look out for:

    Protect yourself

    Never send your online account details through an email and think carefully before you give away any personal or financial information.

    Never enter your personal information on a website if you are not certain it is genuine. Don’t click on the link provided in an email or call the phone number provided; instead, find the business’s contact details through a general internet search.

    Keep your computer updated with the latest anti-virus and anti-spy ware software, and use a good firewall.

    When using social networking websites:

    • Check the privacy settings and think about who you really want to have access to your personal information.
    • Be careful about what personal information you put on the internet, because scammers can use these details to guess your passwords or to commit fraud.
    • Check how much information about you is available on the internet—type your name into a search engine and see how many hits you get.
    • Don’t be lulled into a false sense of security—online ‘friends’ may not be who they say they are.
    • If you receive an email that appears to be from a family member or friend, look at the way the email is written and ask yourself whether the email sounds like it was written by that person.
    • If you receive an unexpected request for money from what appears to be a friend, try to contact that friend or their family or friends to verify the request. Do not use any of the contact details in the message.

    Great advice to take on board for any FB user – but it you or someone you know has fallen victim to one of these phishing scams – there are three things you may need to do immediately (among others):

    1. Change your passwords on your computer, bank, Facebook or any other relevant sites via a different computer. If you can’t because you have been ‘locked out’ of your accounts, you may need to contact your Creditors and Police immediately.

    2. Report the scam to the ACCC, and if you think you may be vulnerable to identity theft, it may be better to give them a call on ACCC Infocentre 1300 795 995 and they can direct you for further advice and possibly advise you to contact Police.

    3. Check your credit report. This is often the first way you might spot identity theft which has led to credit being taken out in your name. It is free to check every year from Australia’s credit reporting agencies and it will be peace of mind if it turns up clear. If there is anything on there you are not sure of, investigate and contact Police. If you confirm you have been a victim of identity theft, you can contact MyCRA Credit Rating Repairs to help with removing any bad credit which is darkening your name.

    Image 1: Pixomar/ www.FreeDigitalPhotos.net

    Image 2: Ambro/ www.FreeDigitalPhotos.net

  • Identity theft risks for Australian online banking customers: what you need to know

    Commbank’s customers have been warned about phishing scams which could threaten the financial safety of its customers, but this scam applies across the board to all merchants, and all customers should take care not to fall for the viscious emails designed to steal your money from and your good credit rating.

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

    In June, for Cyber Security Awareness Week 2012, we explored the prevalence of phishing scams in Australia – particularly around merchants – banks, credit cards and even Paypal.

    In the posts Experts say getting hooked by Australian Paypal or Amex phishing scams could result in identity theft and following on with Company Obligations on Phishing Scams we looked at both the ramifications of falling for phishing scams in terms of bad credit from identity theft on your credit file and the possible obligations of companies to inform their customers when the company name is being used to promote a phishing scam.

    Commonwealth Bank is the latest company to warn customers about these phishing scams which are hooking many people with their clever requests and look-alike websites.

    The emails are to do with account verification.

    The phishing email asks the customer to verify their details due to a high instance of fraudulent activity. Once they click on the link, they are diverted to the fake bank website, where they enter their personal details and banking information into the so-called “customer” database. At which point if people take the bait they are in reality leaving themselves at very high risk of not only bank fraud, but identity theft through revealing their personal information.

    Commbank recently released a statement on its blog warning its customers about the prevalence of such scams in its post Alert: Identity theft targeting Australian consumers:

    The Commonwealth Bank of Australia is currently investigating a new identity theft scam which is targeting customers of financial institutions, including Australian banks. The scam aims to steal personally identifiable information such as your Internet Banking username and password, passport, driver’s licence, Medicare and birth certificate details.

    The scam manipulates consumers to believe they are using their bank’s normal Internet Banking website, when they are actually using a fake website controlled by the scammers.

    The fake website prompts the consumer to login with their username and password, upon which they are presented with a screen similar to below.

    The message states: “Due to recent frudulant[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”][sic] use of NetBank services we require an Electronic ID Check to verify your identity. This is a one-off process.”

    If you see this message, we recommend you:

    i) DO NOT enter your personal details;
    ii) Contact your financial institution immediately. NetBank customers should phone 13 22 21;
    iii) Install and run a trusted anti-virus program on your computer;
    iv) Importantly, you may need to reset or reconfigure your Internet modem or router. We recommend contacting your Internet Service Provider to verify your modem or router has the correct DNS settings.
    v) In your web browser, enter the full address of your Internet Banking website beginning with https:// (for example, https://www.netbank.commbank.com.au). Entering the ‘s’ in https:// makes it is easier to tell whether or not you are interacting with the legitimate Internet Banking website. If you receive security warnings, or no response, it may be an indication you are affected by the scam.

    Commbank reports that these quite legitimate looking emails have not only been asking for account information, but even more alarmingly – identifiable personal information such as a copy of the customer’s birth certificate, copy of passport and copy of driver’s licence.

    This kind of information in the wrong hands is going to land someone in a whole lot of hot water with unpaid debts, and in turn threaten the clearness of their credit file. Not to mention the risk involved in just clicking on any attachment – opening the customer up for Trojan viruses and other cyber-nasties.

    If the fraudster is able to construct a fake identity from the personal information they have gained, it means they have access to their victim’s good name through their credit rating.

    The fraudster can potentially run up credit all over town in the victim’s name. If the crime is fairly sophisticated, most victims don’t know about it until they have a string of defaults weighing heavy against their name, and the obligation then to prove it was not them that instigated the credit in the first place.

    And so ensues a pretty stressful, difficult time for the victim. With this type of fraud they have not only lost money from their accounts, but are staring down the barrel of credit refusal for 5 years with a string of defaults they’re not responsible for. It’s not always easy to prove your innocence – sometimes people don’t know how identity theft has occurred and often the crooks are working from overseas syndicates and are difficult to trace.

    So here’s what the screen might look like – avoid it and avoid identity theft and its evil twin, bad credit.

    But if you have clicked on a link like this – I would recommend thinking about changing your passwords anyway before using any merchant from that computer again – just in case you’ve downloaded malware with your attachment.

    If you think you are the victim of identity theft, you should immediately contact Police. Also, if want to fix your bad credit after identity theft, talk to our Credit Repair Advisors at MyCRA Credit Rating Repairs about your situation and they can help you make the right moves to restore your good name. Call 1300 667 218.

    Image identity theft: chanpipat/ www.FreeDigitalPhotos.net

    Image screen shot phishing scam: courtesy Commbank blog site: http://blog.commbank.com.au/your-bank/alert-identity-theft-targeting-australian-consumers/[/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]

  • How Malware can infect your life and put you and your credit file at risk of fraud

    Think malware is a term used to describe clothes you go shopping in? Then you might have a big problem. Malware is what’s known as a syntactic form of identity crime – where fraudsters attempt to exploit technical vulnerabilities in order to commit fraud. Today the total malware count is just shy of 80 million. That’s scary stuff. We tell you exactly what it is, and what you can do to prevent your personal information from being exploited by fraudsters and prevent debt and bad credit history from credit fraud.

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

    Last week I received a warning from the Stay Smart Online alert service about a new spam email containing a Trojan horse virus as an attachment. This must have caught out enough people for SSO to put out a warning about it. In fact, new forms of malware catch out millions of people every day. It is reported there are 55,000 new unique malware samples per day sent out there. So how can we stay on top of it?

    Stay Smart Online defines malware, and explains how it can infect your life through your computer:

    What is ‘malware’ and how does it affect your computer

    Malware—short for ‘malicious software’—is the term often used to refer to any type of malicious code or program that is used for monitoring and collecting your personal information (spyware) or disrupting or damaging your computer (viruses and worms).

    Spyware

    The term spyware is typically used to refer to programs that collect various types of personal information or that interfere with control of your computer in other ways, such as installing additional software or redirecting web browser activity.

    Examples of spyware include:

    Keyloggers

    A keylogger is a program that logs every keystroke you make and then sends that information, including things like passwords, bank account numbers, and credit card numbers, to whomever is spying on you.

    Trojans

    A Trojan may damage your system and it may also install a ‘backdoor’ through which to send your personal information to another computer.

    Viruses and worms

    Viruses and worms typically self-replicate and can hijack your system. These types of malware can then be used to send out spam or perform other malicious activities and you may not even know it.  Both can use up essential system resources, which may lead to your computer freezing or crashing.  Viruses and worms often use shared files and email address books to spread to other computers.

    How does your computer become infected with malware

    Most spyware is installed without your knowledge. It often gets onto your computer through deception or through exploitation of browser vulnerabilities.

    •Spyware can come bundled with other software. When you download a program, the spyware can be downloaded and installed at the same time.
    •Some spyware infect a system through security holes in the Web browser or in other software. When the user navigates to a Web page controlled by the spyware author, the page contains code which attacks the browser and forces the download and installation of spyware.
    •Be wary of USB sticks from unfamiliar or untrustworthy sources, for example those given away at conferences, trade shows, or in promotional packs. These devices may contain malicious software, which could cause severe damage to your computer or compromise your personal information.
    •Some “rogue” spyware programs masquerade as security software.
    •Worms can also be used to install spyware on your computer.

    A recent article published in the Sydney Morning Herald Tech Section has some alarming concerns from some pretty hefty security people about the internet’s battle with malware. Many wonder if we could possibly be losing the fight against it – with updates unable to keep up with new developments, and anti-virus letting some slip through the cracks. If you’re game, you can read this article here: Anti-virus can’t keep up with threat onslaught.

    Concerns aside, far and away the best way we can have any hope of fighting it – is with installing updates on our computers. Here are Stay Smart Online’s best tips for preventing malware:

    How to prevent spyware from getting onto your computer

    •Install anti-spyware and anti-virus software and set it to automatically check the product website for updates. This will ensure that your computer is protected against the latest viruses and spyware.

    •Install a firewall. It will prevent unauthorised access to your computer and the installation of spyware on it. Some firewalls can also prevent information being taken from your computer and sent to someone else.

    •If you must use a USB stick from an unfamiliar source, you should always scan the USB stick for viruses or other malware before accessing any of its content. You should also disable the autorun function, which is commonly enabled on the Microsoft Windows operating system. This will lessen the risk that any malicious software that may be on the USB stick, will automatically start when you connect it to your computer.

    •Keep yourself informed about the latest security threats and solutions. You can sign up for the free Cyber Security Alert Service from this website. Alternatively, your anti-virus software vendor may have an email alert system. Look for a ‘keep informed’ tab or section on the software’s main screen.

    •Be cautious about opening emails from unknown or suspicious sources. Look at the sender of the email as well as the body and the subject of the email. Do not open email attachments or click on hyperlinks in these emails. You should install spam filters to minimise the amount of spam you receive.

    •Set your anti-virus software and anti-spyware software to automatically scan incoming email.

    •Only download files and software from reputable web sites. Read the licence agreement and terms of use before you download software and don’t download it if you don’t understand or trust the terms and conditions.

    •Be wary when exchanging files even with colleagues or friends. Scan the files before you install them or run them on your computer.

    •Never click on an ‘Agree’, ‘Ok’ or ‘No’ button to close a window on a suspicious website or pop-up. This can launch spyware onto your computer. Instead, click the red ‘X’ in the corner of the window to close the window.

    Your credit file at risk

    In SMH’s article, Charles Wale, security and risk consultant at Lee Douglas and Associates, who has consulted for over 50 ASX-listed companies says consumers need to realise their machines are targets.

    “They are after your personal information for identity theft and login details, especially for banking sites so they can remove funds in their favour,” he tells SMH.

    What can fraudsters do if they can get their hands on your personal information?

    They can steal passwords to your bank or credit accounts and they can also create a patchwork quilt of information that can allow them to eventually have enough on you to request duplicate identity documents, and apply for credit in your name.

    Running up credit all over town, perhaps buying and selling goods in your name, or in some cases mortgaging properties – the victim can have a stack of credit defaults against their name by the end of their ordeal – and sometimes no proof it wasn’t them that didn’t initiate the credit in the first place.

    Recovery can be slow, and in some cases victims have had no way to prove they weren’t responsible for the debt – with fraudsters leaving no trail and the actual identity crime happening long before the fraud took place.

    So to prevent devastating identity crime, which leaves you in debt and can leave you without any way of obtaining new credit for years to come, make it your business to educate yourself on internet and or computer risks. And think before you click….it could save your financial future.

    If you need help in recovering your good name following identity theft, you may find a professional credit repairer can give you the best chance at having the defaults removed from your credit file. Contact MyCRA Credit Rating Repairs on 1300 667 218 for more information.

    Image: Idea go/ www.FreeDigitalPhotos.net

     

  • Identity theft risks high for pre-retirees

    Media Release

    Identity theft risks high for pre-retirees

    27 July 2012

    Baby boomers scrambling to secure their future before retirement are prime targets for fraudsters who are dangling a whole host of carrots to lure their savings and a national credit repairer warns they are also candidates for credit fraud.

    CEO of MyCRA Credit Rating Repairs, Graham Doessel says victims of the latest very elaborate investment scams could also be at risk of identity theft and having their good name used to take out credit.

    He says pre-retirees who fall victim to scams lose their nest egg, and could also have their identity hijacked and potentially credit taken out in their name, which can rob them of the ability to obtain credit in the years when they will need it most.

    “Many people in this age group also generally have a good clean credit rating, and if fraudsters are prepared to go to elaborate lengths to get them to part with their cash, what’s to say they haven’t set up fake identities and taken out credit in their name as well?,” he says.

    Investors were earlier this month hit with the news of an elaborate scam involving overseas investments.

    The Australian Crime Commission and Australian Institute of Criminology reported that more than 2600 Australians have lost in excess of $113 million to these investment frauds, but it is believed there is a high level of under-reporting and the extent is far greater.

    They warn that the scam is incredibly sophisticated and has fooled even experienced investors with elaborate back up data, including fake websites and publications and fraudsters even issuing online press releases in the hope of extracting major dollars from their victims.

    Australians have been targets for this fraud because of high levels of superannuation and retirement savings. The Australian economy is also known to have been less affected by the global financial crisis than other nations.

    Mr Doessel says if criminals gain access to information like names, dates of birth and addresses they can build a profile with enough information to request duplicate identity documents – enabling them to take out loans, credit cards, even mortgage properties in their victim’s name.

    “Fraudsters are never so kind as to pay the credit back -meaning the identity theft victim is hit twice – financially ruined and with no ability to borrow for 5 to 7 years,” he says.

    The Australian Bureau of Statistics data shows 514,500 Australians were victims of scams in 2011, with 44,700 people citing actual identity theft in the same year.

    Credit reporting agency Veda Advantage also recently reported in its Australian Debt Study that one in five Australians have had their identities stolen or had their personal or financial data illegally accessed.

    Matthew Strassberg, a Veda senior advisor said: “Whilst credit card fraud is a common form of identity crime, many people do not realise that with only a small amount of personal data, an identify thief could take out a second mortgage on a house, or open up a new line of personal credit and purchase items in their name or under a false identity.”

    Mr Doessel says pinpointing identity and credit fraud early can be difficult.

    “Fraudsters often change contact details, and many victims don’t know they have been scammed until they apply for credit and are refused,” he explains.

    He says sometimes there can be some early warning signs of identity theft, and people should watch out for these occurrences:

    1. Strange unaccountable withdrawals on credit or personal bank accounts. It may not need to be a big amount to indicate fraud. Many criminals do ‘test’ amounts to begin with before extracting more significant amounts.

    2. Phone calls or emails from what often appear to be legitimate companies, asking for money or personal details. If you have given bank details or personal information in this way either online or on the phone there is a high chance it was a scam. Verify with the company in question.

    3. Can’t log in to social networking or bank accounts.

    4. Bills or letters of demand sent to you for accounts you don’t know about.

    5. Missing mail – particularly credit card statements which could indicate someone has overtaken your accounts. In this case no news is not good news.

    6. Credit refusal due to a bad credit rating.

    If people feel they may be vulnerable to identity theft, they should alert their creditors, and also alert credit reporting agencies, who may be able to ‘flag’ their accounts to prevent fraudsters accessing credit in their name.

    Mr Doessel says if a credit check reveals any “surprise bad credit” through possible identity theft victims should act immediately to notify Police.

    “This crime is not very widely reported. But it is only through people reporting it that any real statistics get collated. Likewise, if people want to try and repair their credit rating following identity theft, the first thing I tell them is to make sure they have a Police report,” he says.

    For more information on restoring a credit rating following identity theft, contact MyCRA Credit Repairs on 1300 667 218 www.mycra.com.au.

    /ENDS.

    Please contact:

    Lisa Brewster – Media Relations Mob: 0450 554 007 media@mycra.com.au

    Graham Doessel – Director Ph 3124 7133

    Ph 07 3124 7133 www.mycra.com.au www.mycra.com.au/blog 246 Stafford Rd, STAFFORD Qld

    MyCRA Credit Repairs is Australia’s leader in credit rating repairs. We permanently remove defaults from credit files.

     

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    Image: photostock/ www.FreeDigitalPhotos.net