The AIC revealed Australians lost more than $3.1 billion to identity crime in 2018-19, a 17% increase from 2015-16.
About one in four Australians surveyed by AIC has had their personal information stolen, with an average loss of $300 per incident.
Personal information of value to scammers includes your name, credit card details, Medicare card details, bank account information, address, and date of birth.
RACQ Manager Banker to Member Initiatives Eszter Cathcart said verifying communication was the first step to avoiding identity theft.
“You should always verify communication with anyone who asks you for personal information,” Ms Cathcart said.
“This could mean going to a website yourself instead of clicking on a link in an email or hanging up on a phone call and calling the business back directly.
“Taking the time to check that each request is genuine could save you time and money in the long run.”
Common warning signs of identity theft include:
“The sooner your bank knows about the issue, the sooner they can stop any further fraud from occurring.
“Changing your passwords and reporting any compromised online accounts will also help.
“You can also contact IDcare, a charity that can provide personalised support to help you decide on your next steps.”
The information in this article has been prepared for general information purposes only and not as specific advice to any particular person. Any advice contained in the document is general advice and does not take into account any person's particular investment objectives, financial situation or needs. Before acting on anything based on this advice you should consider its appropriateness to you, having regard to your objectives, financial situations and needs.
The information in this article has been prepared for general information purposes only and is not intended as legal advice or specific advice to any particular person. Any advice contained in the document is general advice, not intended as legal advice or professional advice and does not take into account any person’s particular circumstances. Before acting on anything based on this advice you should consider its appropriateness to you, having regard to your objectives and needs.