With high-profile data breaches in the news and the RBA describing cyber-attacks as a significant threat to Australia’s economic stability, it’s easy to feel concerned about the safety of your personal information. Criminals with access to your details could steal your identity, fraudulently run up debts in your name, and ruin your credit score, making accessing money and credit in the future much harder.

Here are five steps you could consider taking to help protect yourself from fraud: 

1. Be alert

Don’t assume that you’re not wealthy or influential enough to be targeted by scammers or fraudsters. Scams target Australians of all backgrounds, ages and income levels, though there are some Australians that are more vulnerable than others.

Fraudulent messages could arrive via phone, text, email, social media, or other sources. They can be sophisticated enough to appear realistic, and will sometimes come from familiar phone numbers or email addresses.

But no matter how realistic a message appears, or how convincing a caller may sound on the phone, avoid clicking any links or answering any questions until you’ve had a chance to go and verify for yourself. For example, if you receive an email from your bank asking you to click a link, consider first calling the bank’s main phone number (not a number included in the email) and asking if the message is safe to open.

You could also consider regularly checking your credit score, as this will be affected by any credit accounts opened in your name, including fraudulent applications set up by scammers. If you come across any unusual activity, you can contact the parties involved to correct the situation. You could also consider requesting a credit ban, though this may not always be the best choice for your situation.

2. Secure your accounts

While it’s easy to use the same password to access all your accounts across the web, this could leave all of these accounts at risk if a fraudster was to get their hands on your details.

It’s often advised to create unique passwords for each account you create, and to use two-factor authentication (2FA) or multi-factor authentication (MFA) whenever possible. This is where you not only need to log into your account with a password, but also a code that’s sent to your smartphone. This means that even if criminals got their hands on your data, they won’t be able to access your accounts without also holding your phone (which you could also secure with a PIN, fingerprint or face detection).

Additionally, it’s worth regularly updating the security software and apps on your computers and phones, and backing up any important information to a separate drive. Reviewing the privacy settings on your social media and other accounts could also help to protect you.

3. Shop smart online

If an online deal seems too good to be true, it probably is. Some scammers set up fake online stores to trick unsuspecting customers into handing over hard-earned money and personal details in exchange for an inferior product, or even no product at all. 

Consider looking for reviews and online discussion vouching for a seller before you start shopping, and rethink buying from anyone who asks you to pay using a money order, pre-loaded money card, or wire transfer. Paying in cryptocurrency can also be a red flag.

When shopping online, check that the shopping cart is well secured to protect your personal payment details. Look for a URL starting with ‘https’ and a closed padlock symbol, or a payment provider such as PayPal.

4. Protect your details

When shopping or conducting other financial matters online, consider taking screenshots and/or printing copies of confirmation pages and other relevant details. If you experience any issues in the future, there’ll be a record you and/or the authorities can check and follow up.  

Any documents (physical or digital) you save with personally identifying information should be kept in a secure location. These could include tax turns, insurance papers, medical documents, and more.  Consider shredding documents or wiping phones and hard drives before you dispose of them. 

Also, try to avoid shopping or banking online while using public wi-fi. Sure, free wi-fi can be convenient, especially when you’re travelling or trying to save on data charges, but your online activity could be vulnerable while you’re connected. Always sign out of services you use before you disconnect.

If you have 4G or 5G on your phone, consider using that instead. The internet connection from your phone doesn't come with the security risks of free wi-fi, and while it costs you money, at least it doesn't cost you in security. 

5. Report scams when you find them

It’s easy to consign scam emails to the junk folder, or to simply delete suspicious SMS messages and forget about them. But that won’t stop the scammers from trying again in the future, targeting yourself or some other unlucky individual.

If the scammers are masquerading as a well-known business or government department, consider getting in touch with the real thing to let them know about the scam so they can warn their other customers.

Additionally, you can report the scam to government organisations like the ACCC’s ScamWatch, which can take steps against criminal scammers and protect more Australians. These organisations can also help you stay informed of any other scams you may need to be aware of, and alert you if you or others you know may be at risk of fraud.