The Great Optus Hack
While The Great Optus Hack is a wake up call to all businesses to ensure they guard all client information appropriately, I want to start by expressing my deep concern and support for any individual who has been impacted by this.
Like most financial advisers, I have been contacted by a number of clients, caught up in this debacle and I am happy to help any client who may have concerns about the safety of their identity or financial records.
I have no concerns about the ability of my company or that of the companies that I partner with, to hold client records safely and securely and I am confident it will stay that way.
However, here are five simple steps you can take, whether you are an Optus customer or not, to help protect both your identity as well as your finances.
- Lock your mail box
While the Optus Hack occurred on line, most issues regarding identity theft still occur as a result of unlocked mailboxes and passer-by's just helping themselves to what's inside an unlocked mailbox in the hope of finding something useful.
This is particularly the case if you live in an apartment block and have a letter box as part of a large number of other unlocked letter boxes as thieves will, and do, target these situations.
If you have any concerns then it might be worthwhile paying the extra dollars to obtain a Post Office Box at your local post office that you can check from time to time. This will ensure total security for your mail.
2. Change your passwords regularly
This can be an annoying habit but you should be changing your passwords on important items such as your internet banking account and your main computer and telephone every six months.
It is easy to let this slide but you do so at your peril! And while you're changing passwords, resist the temptation to use obvious names or numbers such as your birthday.
Wherever you have the option of using a two stage authentication process make sure you take it up. It might be time consuming but it will give you peace of mind when you need it.
3. Keep important documents in a safe place
It can also be tempting to be blase about where you keep important documents such as your driver's licence and passports but this is an area where you really should take steps to boost your security.
These two documents can open up a world of unlimited credit should they fall into the wrong hands and that's credit that will be taken out in your name.
Never leave passports for example in your bedside table and never ever leave a bundle of passports in any one obvious space. It just provides a treasure trove of opportunities if for example your house is burgled.
4. Ignore fake emails and text messages
Every day fraudsters become more sophisticated in how they go about trying to trick you into giving them vital information about yourself via emails or text messages.
These contact points can seem more real than the real thing so don't pretend to yourself that you will easily spot a fraudster trying to take advantage of you - you simply won't.
Never click onto a link in any email or text that you don't recognise or have not contacted first. The simple act of clicking can provide the fraudster with easy access to your phone or computer as if they were sitting there beside you.
5. Check your bank accounts regularly
Finally, keep a close eye on all your on-line accounts including credit cards. While prevention is better than cure, being quick to spot something that is wrong is the next best step.
If you do see a suspicious transaction, contact the financial institution or credit card provider and alert them to what is happening. If it is suspicious, they will be able to act to stop it occurring again.
This is important as often scammers will test an account by trying to withdraw a small amount and then will just steadily increase the amounts until there is nothing left.