It happens every day. People who would never dream of issuing their credit card number after receiving any call, SMS or e -mail gave free personal information on social media – including birth dates, home addresses and details that are often used to answer the security questions of websites.
The consequences can be terrible. If fraudsters open a credit card, credit line or mortgage in your name, you can, for example, be held financially liable. Your credit score can be hit, making it very difficult for you to get credit – such as a mortgage or car loan – when you need it.
“Identity theft is not new, but we see more and more of it” “We see more and more scams committed, so that identity theft can happen.”
In some cases, identity theft is outside your check. For example, fraudsters can steal personal information through a cyber attack on a company or government database, or buy on the dark web (hidden websites where criminals in stolen data).
What can Canadians do to protect themselves against identity theft – and, if it happens, minimize the damage?
6 Safety tips to reduce your risk of identity theft
“You can’t really prevent it,” says Howell, but you can make identity theft more difficult for criminals, making them continue to easier goals. Here are some preventive measures:
- Meet your digital profile. Google yourself to get an idea of which information about you is immediately available on the internet. Then focus on protecting what is not public, such as usernames, passwords, account numbers and your social insurance number (SIN). If a company or government department you deal with is hacked, then be wary. Change your passwords on sensitive accounts.
- Be vigilant about your financial status. Check credit card statements and credit reports often for unknown costs. A common tactic is the ‘salami attack’, where criminals test a credit card or other account number with a small purchase or transfer, perhaps only for $ 2. If it works, they will take a thicker slice next time. “If you don’t catch it, if you don’t close it, it will continue and in larger quantities,” says Howell.
- Do not connect to public WiFi, Especially when opening your bank account or entering credit card information.
- Be on your guard if someone asks for personal information. Do not respond to requests from unknown people, companies or institutions. If the request seems to come from, for example, your bank, a friend or the Canada Revenue Agency (CRA), please contact them with another line to check the legitimacy of the request. (Also read: how you can protect your CRA account against scams.)
- Close inactive and under -utilized accounts. For example, close a car loan that has been paid off. Unteded accounts offer openings for fraudsters.
- Enable two-factor or multi-factor authentication To access your accounts wherever you can. In this way, even if criminals have some personal information about you, they are stopped on this second level of security. “That’s the thing you can sometimes protect,” says Howell.
Video Social Media Scam
A convincing new scam to pay attention
A kind of scam that has become customary in the past year is the “Bank investigator” scamSays Howell. Victims receive a call or a SMS message from a 1-800 number in which the caller acts as a researcher of a financial institution or credit agency, or even the police. They claim that they have detected fraud on your account and ask for authentication codes to access your devices, or even to collect your cards at home personally. Sometimes there is a second phone call from someone who presents himself as a lawyer, and they seem to have information.
As soon as they have sufficient personal information, the fraudsters can use them to, for example, switch off a car loan or, for example, to open a mobile phone plan, and never pay for it – and the victim is attached to the account.
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What to do if someone has obtained credit in your name
If you discover that someone has used your identity to commit fraud, contact your credit card publisher and both Canada credit agencies to scrub fraudulent costs of your credit history as soon as possible, Howell emphasizes. Try to determine exactly which information is affected. Put fraud monitoring and fraud alerts on the account. Report the Canadian Anti-Fraud Center (CAFC) and the local police, especially if there is a possibility of a visit to your house.
If the fraud persists, this can ruin your creditworthiness. “That can be devastating,” says Howell. It can take months or even years to fully restore control of your identity.
But the easiest course is prevention. The risk of identity theft is never zero, but you can reduce the opportunities that will happen to you.
“You just don’t want to be an easy target,” says Howell. “You want to make it a bit difficult for fraudsters, because there are easier goals.”
Detect fraud earlier with the credit monitoring of Equifax
Equifax completeTm Protection is a subscription service that keeps your credit report close and you can warn if your identity is affected. Characteristics of this service include:
- Daily credit monitoring and warnings of important changes to your Equifax credit report, such as a new loan or credit card application
- Social media monitoring by Zerofox, to warn you about suspicious activities on your social media accounts
- Webscan, which monitors the Dark Web on personal information you provide
- Online data coding by NordVPN and password management by Nordpass
- Parental supervision of Bitdefender to limit the access of children to websites and apps
- Bitdefender device protection to stop phishing attempts and block viruses and malware
- Support for an Equifax Identity Restoration Specialist, if your identity is stolen
- Identity theft insurance up to $ 1 million for out-of-pocket expenses (not available in Quebec)
Equifax Complete protection costs $ 34.95 per month. For more information, go to the Equifax -website.
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Equifax Complete protection
Equifax Complete Protection is a credit and cyber security protection service designed to help Canadians see the signs of identity fraud faster.
- Offers daily credit monitoring and warnings
- Scans for your personal information on the dark web
- Social media monitoring by market leader Zerofox
Subscription price: $ 34.95 per month
This article is sponsored.
This is a paid mail that is informative, but can also contain the product or service of a customer. These messages have been written, edited and produced by Moneysense with assigned freelancers.
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