How to Reduce Identity Theft at Tax Time

Picture this, it’s the end of the financial year. You are doing your end of year tax return and going through endless receipts and financial records. Once all the relevant bits of paper are collated correctly, a pile of irrelevant and now unwanted paper remains. The way you choose to dispose of this waste paper will impact your risk of being exposed to identity theft.

Up to 75% of Australian’s throw away seemingly innocent documents which could be used to steal their identity[1]. Fraud from identity theft in Australia is growing and currently costs the nation over $1.6 billion each year[2]. With most people focused on digital security of personal data, discarded waste paper could just as easily allow an unwanted criminal into your life.

You may guard financial records, bank statements and photo identification carefully in your home. Yet, other less formal documents may appear innocent. Cunning thieves will use many sources of information to quickly stitch together enough information to commit fraud.

Old tax returns, even if no longer needed by the ATO can reveal vital personal information like income employers and tax file numbers. ATM receipts hold key transaction data useful in identification. And, utility bills prove your name and address which for some financial transactions contains significant identity points.

Getting in the habit of storing all your paperwork securely until it is time to be disposed is important. Having a secure disposal system is vital to ensure all your discarded personal information is safely destroyed.

Brisbane Document Destruction Service takes the hassle, risk and the guesswork out of document shredding. We offer easy, convenient and cost-effective services, with lockable security bins (minimum order of two) delivered to and picked up from your premises by secure transport. All documents are taken to an approved site for total destruction, erasing all data.

Call us today on (07) 3167 6190, let us tailor a document-destruction solution for your business.

Sources:
1. Newspoll Survey 2010
2. Australian Federal Police: Identity Crime https://www.afp.gov.au/what-we-do/crime-types/fraud/identity-crime