The Ultimate Guide to Protecting Your Identity in the Digital Age

Identity theft in Australia is a serious issue. While the digital age has revolutionised the way we communicate, shop, and manage our finances, it has also introduced new vulnerabilities. Cybercriminals are constantly finding ways to exploit individuals, making identity theft more prevalent than ever.

According to the Australian Bureau of Statistics, approximately 199,100 Australians aged 15 and over experienced identity theft during the 2022-23 financial year.

With new technology and the vast amount of personal information shared online, the damage caused by identity fraud can be extensive and devastating.

To effectively combat identity theft, it’s essential to understand how it occurs, its impact, and the proactive steps you can take to protect yourself.

What is identity theft?

Identity theft occurs when criminals steal personal information to commit fraud, whether by taking over existing accounts or opening new ones in your name.

The Australian Federal Police highlight several ways criminals can misuse stolen identities:

• Apply for a credit card in your name

• Open a bank or building society account

• Obtain loans or other financial services

• Run up debts

• Apply for government benefits

• Obtain a driver’s license or register a vehicle

• Apply for a job or passport

• Sign up for a mobile phone contract

Victims often suffer significant financial distress, as identity theft can lead to drained accounts, mounting debt, and damaged credit scores.

How does identity theft happen?

There are various ways cybercriminals obtain and misuse personal information. Some of the most common methods include:

Data Breaches
Hackers target businesses and institutions to access sensitive customer data. If your details are compromised in a breach, criminals may use them for fraudulent activities.

ATM Overlays
Skimming devices placed on ATMs can capture card details and PINs, which criminals then use to access bank accounts.

Malware & Viruses
Malicious software can infect computers and mobile devices, capturing login credentials, credit card details, and other sensitive information.

Mail Theft
Stolen mail containing bank statements, credit card offers, or personal documents can provide criminals with enough information to commit fraud.

Dumpster Diving
Discarded documents containing personal data can be retrieved and misused by identity thieves.

Change of Address Fraud
Fraudsters may redirect your mail to another location, gaining access to personal and financial information.

What are the impacts of identity theft?

The effects of identity theft can be severe, leading to financial, legal, and emotional distress.

Consider the case of Australian Sarah Luke, who fell victim to a data breach in 2022. The first signs of trouble emerged in December when cybercriminals took control of her PayPal account in a credential stuffing attack. Over two days, they used her account to buy and sell counterfeit Adidas and NBA merchandise worth over $1 million.

How can you protect yourself against identity theft?

To minimise your risk and help protect your identity in the digital age, follow these essential security practices:

• Use Strong, Unique Passwords: Avoid using the same password across multiple accounts. Use a password manager to generate and store complex passwords.

• Enable Multi-Factor Authentication (MFA): Adding an extra layer of security helps prevent unauthorised access.

• Monitor Financial Statements: Regularly review bank and credit card statements for suspicious transactions.

• Secure Personal Documents: Shred sensitive documents before disposing of them, and store important paperwork securely.

• Beware of Phishing Scams: Avoid clicking on suspicious links or providing personal information to unknown sources.

• Use a VPN on Public Wi-Fi: Encrypt your internet connection to prevent data theft.

• Regularly Update Software: Keeping your devices and apps updated helps protect against vulnerabilities.

Can a comprehensive identity protection service help?

As an additional layer of protection, identity protection services such as Norton Identity Advisor Plus not only assist in recovering from identity theft but also help serve as a preventive measure.

Comprehensive identity protection, such as Norton Identity Advisor Plus, includes financial and social media monitoring to help monitor suspicious activity across your bank accounts and popular social media accounts, dark web monitoring to notify you if your personal information has been found on the dark web, as well as identity restoration support and identity theft insurance providing guidance and financial support in the case of identity theft.

Identity restoration support

If your identity is stolen, an identity restoration specialist will provide advice and support to help you resolve your identity theft issue by:

• Evaluating your claim of potential identity theft to provide relevant guidance

• Help guide you to resolve your identity theft issue with relevant parties, including merchants, credit card companies, financial institutions, collection agencies, government agencies or other parties and if needed make three-way mediation calls with you and relevant parties.

• Accessing over 7,000 verified merchant fraud processes worldwide, and a helping hand to get your identity theft case started

• Personal care from Restoration Specialists dedicated to your case from beginning to end, until it is resolved.

Having a dedicated identity restoration specialist can make the recovery process more manageable and help you prevent further damage.

Financial monitoring

Financial monitoring services can help you catch unknown transactions, which could be a sign of potential fraud. These services help track suspicious activity, flagging potential risks before they further escalate.

Cybercriminals frequently trade stolen credit card numbers, and data breaches often lead to millions of exposed records. Hackers use advanced tools to steal data, making financial monitoring a crucial line of defence against fraud.

Dark web monitoring

Dark web monitoring is a service that continuously searches underground online marketplaces, data dumps, and hacker forums where stolen information is traded. It notifies you if your personal information is found in these locations, giving you the chance to take preventive action.

Social media monitoring

Many individuals share personal information on social media, making them easy targets for identity theft. Social Media Monitoring service monitors your accounts across popular social media platforms, alerting you to suspicious activity, such as unauthorised logins or attempts to impersonate you.¹

Identity theft insurance

Identity theft protection services often include coverage for financial losses and legal fees related to identity theft. The aforementioned Norton Identity Advisor Plus provides Australians with:

• Up to $58K AUD in total identity-theft insurance coverage in your name:²

• Up to $25K AUD for legal expense reimbursement

• Up to $25K AUD in obligation to pay cover

• Up to $3K AUD for lost income

• Up to $5K AUD for miscellaneous expenses

Having a financial cushion can help mitigate the impact of identity fraud and ease the burden of recovery.

Take control of your digital identity

Identity theft is a growing threat in the digital age, but with the right knowledge and tools, you can help safeguard your identity. By staying vigilant, using robust security measures, and leveraging identity protection services, you can reduce your identity theft risk and navigate the digital world more confidently.

Investing in a trusted identity protection service like Norton Identity Advisor Plus provides an extra layer of security and more peace of mind in an increasingly connected world.

¹ Social Media Monitoring is not available on all social media platforms and the features differ between platforms, for details go to: Norton.com/smm. Does not include monitoring of chats or direct messages. May not identify all cyberbullying, explicit or illegal content or hate speech.

² Terms, conditions, exclusions and limitations apply. See the Identity Theft Insurance Australia Policy Information Booklet found on https://www.nortonlifelock.com/au/en/legal/ for details. Coverage provided by AIG Australia Limited AFSL 381686 (AIG). NortonLifeLock Australia Pty Ltd (Norton) act as a group purchasing body in acquiring and arranging the insurance coverage under a group policy issued by AIG to Norton. Norton does not hold an Australian financial services licence. Please obtain your own financial product advice about our services and consider the policy information booklet to determine if the coverage is right for you.