Protect yourself from identity theft

Identity theft

  • What is identity theft?
  • How does identity theft work?
  • Warning signs
  • Protect yourself
  • Do your homework
  • Decide
  • Report them
  • Related scams
  • On average, every 3.2 seconds someone loses their identity
  • What is identity theft?
    Identity theft is a type of fraud which involves stealing money or gaining other benefits by pretending to be someone else

    How does identity theft work?
    Identity theft can happen easily and quickly. By leaving your personal information readily available, scammers will have easy access to this information. For example, scammers will pay people to rummage through rubbish tips and steal letters (‘dumpster diving’) to collect personal information.
    Many of us have a wealth of personal information readily available—cards in our wallet, mail, public records, information saved in our computers and information posted on social networking sites.

    Warning signs
    You get an email, SMS or a phone call out of the blue asking you to ‘validate’ or ‘confirm’ banking details.
    You notice that amounts of money go missing from your bank account without any explanations.
    The caller pushes you to provide personal information and discourages you from checking if it’s a genuine request.
    You are unable to obtain credit or a loan because of an inexplicably bad credit rating.

    Protect yourself

  • NEVER send money or give personal details to people you don’t know and trust.
  • If you receive a call from your bank or any other organisation, don’t provide your personal details—instead ask for their name and a contact number.
  • Regularly check your credit card and/or bank statements to ensure that suspicious transactions are detected.
  • Shred all documents containing personal information, such as credit card applications and bank statements.
  • NEVER never clicking on links provided in an email rather Log directly onto websites you are interested in .
  • Do your homework
    Be suspicious if anyone asks you for your personal information. Scammers will use convincing stories to explain why you need to give them money or your personal details.
    never reply to emails asking you to update your log in details wether it be from your bank, financial institution, PayPal, Facebook or even from your ISP.
    DO NOT call using any telephone number listed in the email—use a number that appears on your statement or card or in the telephone book.
    Keep upto date with the latest scams

    Decide
    Don’t be tricked by an email that looks legitimate or appears to link to a genuine website. The best defence is to delete the email before you even open it and then contact your bank.

    If you receive a phone call that you think may be genuine, you should not ignore the possibility that there actually has been some fraud with your bank account or credit card. Ask the caller for details, then hang up and call your bank or credit union to tell them what has happened. Make sure the phone number you ring is genuine—use a number that appears on your statement or card or in the telephone book.

    Report them
    If you think your identity has been misused, you should contact your bank or credit union to let them know. You can also report a scam to SCAMwatch. Also send a copy of the offending email to Facebook, Paypal also report them to the ISP from which the offending email came from . Many Scammers have a free email account with the likes of Gmail, Yahoo or MSN.

    Tell your friends and family about the scam so they know what to be on the look out for if they are targeted.

    information on Related scams

  • The ACMA’s media release – The ACMA targets computer virus telemarketers – 24 March 2011
  • Scams beware on Microsoft Australia’s Government Affairs blog – GovTech or contact Microsoft Customer Service on 13 20 58.
  • The ACMA’s consumer alert: Computer virus scam calls http://www.acma.gov.au/pcvirustelemarketingscam
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    Car Finance

    Car Finance
    Where to get the best Car Finance,
    Your best choice would be to use a Broker .
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    Fast access finance

    Fast access finance
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    Loans packaged for resale

    Loans have become increasingly packaged for resale, meaning that an investor buys the loan (debt) from a bank or directly from a corporation. Bonds are debt instruments sold to investors for organizations such as companies, governments or charities.


    The investor can then hold the debt and collect the interest or sell the debt on a secondary market.
    Banks are the main facilitators of funding through the provision of credit, although private equity, mutual funds, hedge funds, and other organizations have become important as they invest in various forms of debt. Financial assets, known as investments, are financially managed with careful attention to financial risk management to control financial risk.

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    Finance is the science of funds management

    Finance is the science of funds management.
    The general areas of finance are business finance, personal finance, and public finance.
    Finance includes saving money and often includes lending money.
    The field of finance deals with the concepts of time, money, risk and how they are interrelated. It also deals with how money is spent and budgeted.

    One facet of finance is through individuals and business organizations, which deposit money in a bank.
    The bank then lends the money out to other individuals or corporations for consumption or investment and charges interest on the loans.

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