Identity crime has become one of the most common and fastest growing crimes in Australia. Each year around five percent of the adult population, or about 900,000 people, report being a victim of identity crime resulting in a financial loss.
In 2021-22: 8.1% of persons (1.7 million) experienced card fraud. 2.7% of persons (552,000) experienced a scam. 0.8% of persons (159,600) experienced identity theft.
Fascinating Identity Theft Facts. Around 1 in 15 people become victims of identity fraud. Americans are most likely to have their identities stolen.
Part 4AB of the Crimes Act 1900 (NSW) criminalises identity fraud related offences. As outlined in 192J, it is an offence to deal with identification information with the intention of committing, or of facilitating the commission of, an indictable offence. A maximum penalty of 10 years imprisonment is applicable.
Report the fraud
Report the matter to your local police, and ask for a police report or reference number so you have evidence that you reported the issue. Contact the organisation or agency that issued your identity document and your financial institution and tell them what happened.
Chan says cybercriminals use whatever information they can find to commit identity fraud against individuals – or to hold the organisation they steal it from to ransom. "If someone has your driver's licence or credit card number, they can do a lot of damage by falsifying your identity," he says.
These are some signs to look out for: Unusual bills or charges that you don't recognise appear on your bank statement. Mail that you're expecting doesn't arrive. You get calls or texts about products and services you've never used.
Why accounts are opened in other people's names. Scammers may open a bank account fraudulently in someone else's name to bounce checks or overdraw the account. Others may intend to use the account for storing illicitly obtained funds.
The best way to find out if someone has opened an account in your name is to pull your own credit reports to check. Note that you'll need to pull your credit reports from all three bureaus — Experian, Equifax and TransUnion — to check for fraud since each report may have different information and reporting.
How to spot it: Get your free credit report at AnnualCreditReport.com. Review it for accounts you didn't open or inquiries you don't recognize. A new credit card, a personal loan, or a car loan will appear as a new account.
Physical Theft: examples of this would be dumpster diving, mail theft, skimming, change of address, reshipping, government records, identity consolidation. Technology-Based: examples of this are phishing, pharming, DNS Cache Poisoning, wardriving, spyware, malware and viruses.
The credit check fraudster who stole 33,000 identities
In 2004, Philip Cummings pleaded guilty to one of the largest identity theft cases in the United States. Cummings worked a desk job at Teledata Communications, Inc. in Long Island, New York, where he helped companies run routine credit checks.
Identity Theft By Age
People ages 30 to 39 are most likely to get their identities stolen, followed by 40 to 49-year-olds.
So, the Personal Fraud survey showed us that about two thirds of Australians aged fifteen and over were exposed to a scam in the last 12 months. So, we're talking about 13.2 million people, which was up from 11.1 million in the previous financial year.
The answer may surprise you – while everyone should be aware of identity theft, children and the elderly are at an especially high risk of becoming victims.
Research released today by Commonwealth Bank shows the extent of scams in Australia, with three in five (60%) Australians reporting they have personally been a victim of a scam, or know someone who has.
It is possible for a person to use your Social Security number to open a credit card in your name. Thus, keeping your Social Security number private and secure is important for protecting your identity. SoFi cardholders earn 2% unlimited cash back rewards when redeemed to save, invest, or pay down eligible SoFi debt.
Yes, this is possible. Identity theft was the number one reported type of fraud in 2020 [*], according to the FTC. When scammers gain access to your personal information by phishing, for example, they can do one or more of the following: Gain access to your bank account and spend or transfer all your money.
Warning signs of ID theft
Bills for items you did not buy. Debt collection calls for accounts you did not open. Information on your credit report for accounts you did not open. Denials for loan applications.
Credit card fraud is a form of identity theft that occurs when someone uses another person's credit card or credit card information to buy something or access an account without permission.
Credit and debit card fraud is a form of identity theft that involves an unauthorized taking of another's credit card information for the purpose of charging purchases to the account or removing funds from it.
But if scammers gain access to your bank account number, they can use it for fraudulent ACH transfers or payments. For example, scammers could use your bank account details to buy products online.
You may become a victim of identity theft if: you have lost or had stolen important documents such as your passport or driving licence.
Avoid giving out personal information over the Internet. Never click on a link or open an attachment in an email from someone you don't know and trust. Regularly install and update anti-virus protection software. Avoid using public computers to access your personal information.
With the rise of identity theft, it's essential to take the necessary steps to safeguard your personal information. One effective way to protect yourself is by changing your name. While it may seem drastic, a name change can provide an added layer of security and peace of mind.