A new credit security service was launched this week that can alert consumers to any changes in their credit file should they lose their credit card, passport, or other personal information that could be used to steal their identity.
SecureIdentity starts at $65 per year and can alert consumers to any modification of their credit file which could mean someone is trying to apply for credit in their name.
The service sends an e-mail every time a change is made in a customer’s credit file and offers a 24/7 global hotline that can act on the customer’s behalf to cancel and arrange for reissue of financial cards, or cancel stolen or lost Australian passports.
SecureIdentity can also block your mobile phone if it is lost or stolen, assist in the recovery of lost personal items, arrange an emergency cash advance via Western Union, and notify service providers of any change in address.
The service is provided by business intelligence and credit reporting/identity verification provider Veda Advantage, and registration and retrieval service provider Secure Sentinel.
Last week was National Identity Fraud Awareness Week, a Crime Stoppers campaign to raise awareness of identity theft and fraud. Australian Bureau of Statistics research released in June found that over 800,000 Australians had fallen victim to some form of identity fraud in the 12 months preceding the research, of which over three-quarters was credit card fraud totalling close to $1 billion in losses.
Common forms of identity fraud include credit card skimming; phishing; whaling threats that target enterprise executives; SMS e-mail scams; trojans that can exploit online banking systems; and the infamous 419 or Nigerian scams that led to a recent partnership between the Queensland Police Service and Nigeria's Economic Financial Crimes Commission.