- Marketplace
Identity Fraud
Credit Report Features:
Frequently Asked Questions
Here you'll find the answers to all of your credit report questions. The Q&A covers a range of topics, including understanding your credit file and how to protect yourself against credit fraud. Read More...
- Identity fraud: How to protect yourself
- Order now: Search where you can order a credit report from
- Credit cards: Search and compare the best credit cards
| How To Deal With Identity Fraud |
Identity related fraud costs Australians more than 2.2 billion every year* and is a growing issue in Australia and throughout the world.
And whilst all Australians pay for credit fraud by way of higher interest rates and higher prices it is the victims who pay by far the highest price for this crime, suffering anxiety, inconvenience, loss of reputation and actual financial loss.
One of the most common forms of credit fraud is committed by 'stealing' the identity of another individual. Someone obtains your identity details and uses them to obtain credit for themselves, leaving you with the potential liability for this debt, a damaged credit reputation and the inconvenience of amending your credit file.
*2001 Commonwealth Attorney General's Department report.
How To Deal With Identity Fraud
Protection is the best deterrent against identity fraud:
- Know what is on your credit file
- Regularly monitor your credit file
- Sign all new credit cards as soon as they are received
- Store cards and personal ID items in a secure place
- Shred any paperwork that contains your personal details or account details before throwing away
- Contact your financial institution immediately if your cards or account details are lost or stolen
- Keep your Personal Identification Number(s) confidential and separate from your card
- Don't disclose your Personal Identification Number(s) to anyone
- Contact the Police, then your credit provider(s) if you discover information on your credit file has been caused by another individual fraudulently using your identity details. Keep notes of all your conversations with these bodies, including names, dates and contact numbers.
What if you are a Victim of Credit Fraud?
Credit fraud is a crime. If you believe that information held on your credit file has been caused by another individual fraudulently using your identity details:
- Contact the police and report the crime
- Obtain a copy of your credit file to confirm someone has used your identity
- Contact the credit providers involved and inform them of the fraudulent activity, otherwise they will hold you responsible for any bad debt incurred
When dealing with credit providers:
- Keep notes of all the conversations you have, including names, contact number and the date you spoke.
- Ask questions to ensure you understand the process as each credit provider may have their own processes for handling fraud.
The credit providers will then conduct their own investigations and notify the credit file company of the outcome. The credit file company can then remove any fraudulent information from your credit file.
Popular Finance Searches
Copyright © 2009 Yahoo! Pty Limited. All rights reserved.
Advertise with Us - Privacy Policy - Terms of Service - Help