I’m in a nightmare situation with BankSA and Experian and need some guidance on my next steps. Always lived in Victoria, never been to South Australia or heard of BankSA.
On April 11, I checked my credit history (Clearscore/Experian) because I was applying for a credit product. I found an unauthorized home loan for $700k+ from BankSA that is not mine.
The Timeline & Escalation:
April 11: Notified BankSA, Experian, Victoria Police/Cyber, and IDCare.
April 20: Checked my Experian file again. My Name, Date of Birth, and recent address have now been changed on the credit file to details that are NOT mine.
The Impact: I don't want to apply for credit product I need as I have a fear of being knocked back for a credit product I was previosly eligible for. But due to the debt-to-income ratio being blown out by this ghost loan, and it impacting my credit score, I cant apply for this loan.
The Response (or lack thereof):
BankSA’s customer manager told me their next response wouldn't be until April 29. No information was provided, only asking for my phone number on the email on 21st April. This seems completely inadequate given this is a massive security breach/identity issue that is actively damaging my financial standing.
Experian have yet to respond.
I have already:
Sent a formal letter on 11th and again replying to BankSA customer manager on 21st April demanding a response within 48 hours (by April 24).
Attached screenshots of the "before and after" credit file changes.
Informed them I will be going to AFCA if not resolved within suitable timeframe.
My questions for the community:
Since BankSA’s error has caused me to miss out on a financial product and caused significant stress, am I entitled to compensation beyond just "fixing the error"?
Has anyone dealt with BankSA's fraud/complaints team recently? Is there a way to bypass the "investigator/ customer manager" and go higher?
What is the fastest way to get a "ban" or "freeze" on my credit file when the details (Name/DOB) on the file no longer match my actual ID?
Appreciate any advice. This is causing massive pressure and stress