It’s every person’s nightmare: you log into your bank account to pay a bill and realise your bank account has been drained of money.
Identity crime is one of the most prevalent crime types in Australia, with one in four Australians are said to be victims of identity crime at some point in their lives.
In this blog post we discuss how criminals gain access to your personal information, the signs of identity theft to look out for and how to report and recover from identity theft.
What is identity theft?
Identity theft is when someone uses your personal information to steal money or gain other benefits. Identity fraud can result in someone using your identity to:
Steal money from your bank account
Take out loans or credit cards in your name
Take out phone plans and other contracts
Access your superannuation
Use your online accounts to redirect money and commit other crimes
Access your social media accounts and impersonate you to scam your family and friends
Create new identity credentials using your details.
Within a data breach, information such as usernames, passwords, contact information, social security numbers, and other types of private information is released and shared among threat actors, making this a frequent cause of identity theft.
How do criminals gain access to personal information?
The Australian Institute of Criminology undertake annual monitoring of identity crime. They have reported the most frequently reported methods used to obtain personal information:
Hacking of a computer or computerised device
Data breach
Online banking transaction
Communicating online
Email
ATM/EFTPOS/credit card transaction
Website information
SMS/text message
Telephone
Information placed by media
For example, scammers can ask you to update information to receive a refund or a prize via social media, email, SMS and phone calls.
What are the signs of identity theft?
You notice unusual activity on your bank statements or credit history report.
Your identity documents are missing, such as your passport or driver licence.
You receive an unexpected bill or statement.
Your mail has gone missing.
Unprompted login verification emails or texts.
Debt collectors contact you about purchases or loans you didn’t make.
Government agencies contact you about benefits you didn’t apply for.
You are notified your details were leaked in a data breach.
How do thieves use my personal information?
Phishing - Phishing fools users into downloading malicious software by masquerading as a different link, or tricks users into revealing sensitive information like a password or PIN code.
Social media - Public posts can lead hackers to words you frequently use in order to crack passwords, find bait for phishing scams, and location information. Photo metadata also can lead thieves right to your door. Another common method used with social media is the all-too-common “romantic stranger” or “person who needs help” in your messaging inbox, waiting to pull personal information from you.
Shoulder surfing - Shoulder surfing is a type of social engineering technique used to obtain information such as personal identification numbers (PINs), passwords and other confidential data by looking over the victim's shoulder.
Data beach - Within a data breach, information such as usernames, passwords, contact information, social security numbers, and other types of private information is released and shared among threat actors, making this a frequent cause of identity theft.
Physical theft - Thieves can find personal information in bins, cars and even old mail. Smartphones, tablets, and laptops are commonly stolen from vehicles or public places, giving hackers easy access to your data and identity. Keep your electronics locked up tight, keep an eye on them in public and private places, and always use a shredder before throwing files or mail away.
How can I recover from identity theft?
It is crucial you act as soon as possible to secure your information and report the incident.
Report cybercrimes, security incidents and abuse through ReportCyber.
If the identity theft is part of a scam, report it to the National Anti-Scam Centre, Scamwatch.
The Australian Signals Directorate have a six step process to follow if you are a victim of identity theft:
Secure your finances
Secure your accounts – Digit IT can assist with this step if required
Secure your identity
Secure your credit
Check for unusual activity
Recover and protect your identity
Managed Cybersecurity
Digit IT can help you prevent accidental and malicious threats, with Managed Cybersecurity services. Please contact us on 07 4637 9033 to book a Cybersecurity Assessment for your business.
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