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Date Published : Monday, April 07, 2008
Australians should be doing more to protect themselves from credit card fraud and identity theft, an industry expert has claimed.
Recent research by Veda Advantage revealed that as many as 23 per cent of Australian consumers have been the victim of some sort of identity theft, while 57 per cent of those polled admitted that they do nothing to protect themselves from fraudulent behaviour.
As a result, many credit card holders are leaving themselves open to fraudsters who look to exploit new technologies and who are no afraid to get their hands dirty in order to secure personal and financial information, Paul Clitheroe, chairman of the Financial Literacy Foundation and chief commentator for Money Magazine, stated.
Writing in the Sunshine Coast Daily, Mr Clitheroe said: "Stealing someone's identity can be remarkably simple - as easy as raiding mailboxes for credit card statements or rummaging through garbage for discarded bank statements."
People should be tearing up, or shredding, statements for any credit cards or debit cards which they have, while storing vital information in safe places is "necessary".
Mr Clitheroe added: "Some steps, such as storing passports, driver's licences and student cards in a safe place, are things we should be doing as a matter of routine.
"And as you'd expect, it's a complete no-no to store passwords or pin numbers in your wallet or purse alongside ATM cards. This makes it too easy for crooks, and furthermore, it may lead to you wearing any losses. Surprisingly, research indicates an alarming number of people still do it."
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