If your identity documents are lost or stolen, there’s a high risk that you could become a victim of identity fraud.
Contact the issuing organisation of the document(s) to let them know.
If you're worried someone will apply for credit with your ID it may interest you to place a ban on your credit report.
For more information on this, check out IDCARE’s (Australia's national identity and cyber support service) Fact Sheet or contact them on 1300 432 273.