Someone simply uses your credit card details to buy things online, or goes to all the trouble of taking out fake loans in your name – either way, identity theft is a serious issue. And it could have a lasting impact on your bank balance and credit record. Here’s how to stop your identity being stolen.

Protect personal details
Never give out your personal details unless you know exactly who you’re talking to, why they need your information and what it’s going to be used to do. Notify institutions of your new address when you move house, and get the post office to keep your mail when you go on holidays.

Shred all documents containing detailed personal information, such as credit card receipts, if you intend on throwing them out.

Use smart passwords
Have password access on all accounts. Don’t use words or numbers that are easy to guess, such as your birthday or postcode. Keep PINs and passwords to yourself.

Keep hold of cards
Know where your debit and credit cards are at all times. Call your financial institution as soon as any of your cards are lost or stolen. Get rid of credit cards you haven’t used in, say, six months – the more you have, the greater the risk of losing track of one, or of not noticing fraudulent transactions.

Don’t fall for tricks
Beware of ‘phishing’ scams, which con you into giving your details to thieves. They send emails, which look like they’re from a financial institution, and ask you to click on a link to a fake website, which asks you to provide your details. If you receive an email like this, delete it. Banks never ask for personal details by email.

When someone calls you out of the blue, asking for personal information to confirm your identity, ask them for their name and company phone number, then call them back to make sure they’re legitimate.

Check your statements
Thoroughly check savings, cheque and credit account statements for fraudulent transactions.

Monitor credit reports
Get a copy of your credit file so you know what’s on it. Veda Advantage holds credit records, and its alert service can tell you every time an application for credit has been made in your name or if your personal details have been changed.

WHAT TO SHRED

• Bank and credit card statements
• Pre-approved credit applications
• Credit card receipts
• Utility bills
• All other documents containing personal information