Identity theft is a crime where your personal details are used by another person to commit fraud or access your money. It can range from somebody using your credit card to make purchases over the internet to the complete takeover of your identity.

Identity theft

It can occur when somebody steals your personal identification number (PIN) to access bank account or other financial details. Your bank statements or other documents can also be stolen and personal details used without your consent.

It can even happen if your wallet or bag is lost or stolen and somebody gains access to your personal information. Your identity can also be stolen if a bank or financial institution is hacked and somebody gains access to customer details.

In Australia, complete identity takeover is relatively rare, but instances of identity theft do occur. You don’t need to be alarmed, but you should be aware of the risks and how to secure personal details. And you need to know what security measures businesses and financial institutions that hold your personal information use.

If you think your identity has been stolen

There are several steps to take immediately if you suspect that your identity has been stolen. You must act quickly to limit the spread of your personal information and stop your bank accounts and credit cards from being compromised.

The first step is to contact your bank and other financial institutions to advise them that there are transactions on your accounts that aren’t yours.

You may need to:

• stop payment of lost or stolen cheques
• change passwords and PINs
• consider closing accounts.

The next step is to report the identity theft to your state or territory police office to record the crime. You may also have to be photographed and fingerprinted to record your identity.

You then need to notify a credit reporting agency that your identity may have been compromised and to place a note in your credit file.

You may also want to:

• Request a copy of your credit file to check for unauthorised entries or changes to your personal details or other information (see More information).
• If there are any unauthorised entries, you’ll need to contact the relevant companies to investigate the matter.
• Request a report in a few months time to ensure there are no new unauthorised entries.

The final step is to contact your local post office and determine whether mail has been diverted. You might also want to contact government agencies, such as Centrelink and the Australian Passport Office, to report the identity theft.

And remember, it’s important to document all your phone calls and note the date, time, contact person, telephone number and advice received.

Stay safe online and offline

• Only give necessary personal information to businesses.
• Ensure your security software is up-to-date.
• Use complex passwords and change them regularly.
• Only buy from secure websites that display a padlock symbol or use https (rather than just http) in the website address.
• Destroy personal information, such as bills and account statements. Lock your letterbox to avoid mail theft.
• Sign all debit and credit cards as soon as you receive them.
• Photocopy or list all your account numbers and emergency contact details.
• Store personal information securely.
• If you move house, tell the bank and other organisations immediately.
• Use mail re-direction services.

Current as at May 2012
Source: Choice.com.au

How do you know if it’s time to refinance or consolidate your loans? Let me ask you another question. When is it a good time to put money back in your pocket? EVERY YEAR you should take a home loan health check to find out if the loan you have is still saving you money. A lot can happen in a year, life circumstances can change, you may have taken on extra debts and rates may have moved substantially so you owe it to yourself and your cash flow to check your home loan and debt situation every year.

What reasons have other people like you, refinanced for?
Every client at Assured is unique, just like you. The reasons to refinance or consolidate are unique also.  You may be looking to;

• Invest in a new car to keep the family safe on the road
• Install a new pool so you can holiday at home
• Gain some extra funds to secure your children’s education
• Put in that new bathroom you’ve always been talking about
• Pay off your home quicker and gain financial freedom
• Build an extension for the new family addition or just gain some extra space.
• Increase your cash flow to give you a little breathing space
• Landscape your yard and create a great place to relax and play
• Reduce financial stress
• Use the savings you create each month to put away for a rainy day.
• Change to a home loan that has different term which work better for you eg. No monthly account keep or redraw fees. 100% offset facility etc.
• Take a well overdue holiday
• Increase the term of your mortgage so that you can reduce the monthly repayments and free up cash flow
• Getting cash out of the equity in your home loan for whatever reason you feel is needed.
• Roll all your payments into one so you have one convenient payment and interest rate.