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Quick steps to protect yourself from identity theft

/ fraud & identity

Credit fraud is a crime

If you believe that information held on your credit file has been caused by another individual fraudulently using your identity details:

  • Contact the police and report the crime
  • Obtain a copy of your credit file to confirm someone has used your identity
  • Contact the credit providers involved and inform them of the fraudulent activity, otherwise they will hold you responsible for any bad debt incurred.

When dealing with credit providers:

  • Keep notes of all the conversations you have, including names, contact number and the date you spoke
  • Ask questions to ensure you understand the process as each credit provider may have their own processes for handling fraud.

The credit providers will then conduct their own investigations and notify Veda of the outcome. We can then remove any fraudulent information from your credit file.

Quick steps to protect yourself

One of the most common forms of credit fraud is committed by 'stealing' the identity of another individual. Someone obtains your identity details and uses them to obtain credit for themselves, leaving you with the potential liability for this debt, a damaged credit reputation and the inconvenience of amending your credit file.

Studies show identity fraud victims typically know the person who uses, or tries to use, their identity.

To reduce the chance of credit fraud happening to you, follow these simple rules:

  • Know what is on your credit file
  • Monitor your credit file so that you receive notification every time a credit enquiry is made to Veda Advantage using your personal details.
  • Sign all your new credit cards as soon as you receive them
  • Store your cards and personal ID items in a secure place
  • Shred any paperwork that contains your personal details or account details before throwing it away
  • Contact your financial institution immediately if your cards are lost or stolen
  • Keep your PIN (Personal Identification Number) confidential and separate from your card.