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Good Security in Practice at the ASTC

Mark Edwards

As many readers would remember, I often write articles about identity theft. I also practice all of the things I write about. Here is a recent example. The information contained in dividend statements and share transaction documents I regularly receive is very sensitive.

I was concerned that this information was being delivered to my home address mail box which is not always cleared as quickly as I would like. I resolved to get this information delivered to me more securely.

The first approach was to use the facility that many Australian companies offer whereby your dividend statements are delivered electronically via email. This reduces the number of dividend statements going to the mail box, however, not all companies offer this service.

The second approach was to change the delivery address for all mail of this type to my post office box address.

What impressed me about this was the security that the ASX Settlement and Transfer Corporation (ASTC) have put in place to ensure that address changes are not made by an unauthorised person.

Firstly, I had to make the request in writing to my broker who lodged it on my behalf.

After the request was processed, the ASTC sends two letters. The first goes to the original address advising you that a change of address has been requested and the date on which it was processed. It explains what to do if you did not authorise the change. It informs you of the second letter's existence which is sent to the new address and asks you to verify that the address change has been recorded correctly.

Even the envelope the first letter came in had the precaution of advising Australia Post to disregard any redirection and deliver it to the written address to prevent it falling foul of a bogus redirection.

All of this leads me to have a great deal of faith in the ASTC in handling this sensitive information. Well done!

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