Protect Yourself From Identity Crime With Online Statements

As well as being much more convenient and clutter-free than paper, online statements also offer greater protection from fraud and identity crime than paper statements.

But what do we mean by identity crime and how can you reduce your risk of becoming a victim?

Someone stole my identity

An identity crime typically involves a criminal using a fabricated, manipulated or stolen identity to commit a crime such as financial theft or fraud. Having sensitive information delivered via the post can increase your exposure to identity crime, but there are some simple steps you can take to protect yourself from being targeted.

Why are online statements safer?

Paper statements and other financial records are relatively easy for criminals to identify and steal from a letterbox. On the other hand, online statements are stored securely behind your bank’s firewall and advanced encryption protocols, making it a much safer option than your letterbox when it comes to protecting your sensitive information.

How can my identity be used?

Bank statements are particularly rich sources of personal and financial details, including your name, address, date of birth, credit card number or other banking details. Once a cyber-criminal has your information, they can assume or use your identity for fraudulent and criminal purposes such as applying for a credit card or opening a bank account in your name, running up debts using your credit or debit card details or even obtaining a loan or applying for a passport in your name.

What can I do to protect myself?

Thankfully, there are some simple and effective steps you can take to help protect yourself from identity crime and fraud, both online and off:

• Check your letterbox daily, and – where possible – don’t leave mail in there overnight.
• Always shred personal and financial documents before throwing them in the waste.
• Making the switch from paper to online statements is one of the simplest and most effective actions you can take to help protect yourself from identity fraud. You can change your statement preference to paperless here.
• Update antivirus and security software on your laptop, desktop computer and other devices.
• Always be discreet when withdrawing money from an ATM or use an EFTPOS terminal, and make sure you cover the keypad when entering your PIN.
• Beware of scams via phone, email or SMS – Never click on links in any unsolicited messages or SMS, and be cautious when answering calls from phone numbers you don’t recognise.
• Never provide personal or financial information to anyone via phone, email or SMS.
• Never use public computers or unsecured WiFi for internet banking or other sensitive activity, and always make sure you clear your search history and cache after using a shared computer.
• If using social media, always configure the most secure privacy settings possible and don’t accept unsolicited friend requests from people you don’t know.
• If you ever notice any unusual account activity or fail to receive a bank statement in the post as expected, call your bank or financial institution immediately.
• Visit our security pages for more information on fraud and scams, or go to the Australian Signals Directorate website for further useful information and safety tips.

There are many ways to prevent yourself from falling victim to identity crime. One of the easiest and most effective is to make the switch to online statements with Health Professionals Bank today.