The Privacy Commissioner of
Canada describes identity theft as
"the unauthorized use of personal
information, usually for criminal purposes".
Thousands of Canadians are
victims of identity theft every year.
Thieves use your personal information
to open bank accounts, obtain
credit cards, rent vehicles, obtain
cellular phones, and in some cases
secure employment using your name
and SIN number.
Phone Busters web site lists statistics
for identity theft to date for 2003
at over 14 million dollars, compared
to 2002 when the total for the year
was just over 8 million dollars. This
is a clear indication that identity theft
is on the rise and very profitable to
the criminals. Below is a comparison
chart for 2002 and 2003.
Once an individuals identity has
been "stolen" it can take months,
even years to put things right, in
addition to the financial cost
involved and in most cases, the loss
of reputation.
There are a number of ways of preventing
identity theft. The number
one way is to protect your personal
information. There are many avenues |
that a thief can steal your personal
information, for example: Be careful
about giving out personal information.
Whether on the phone, by mail,
or on the internet. Never give anyone
your credit card number, social insurance
number, or other personal information
for a purpose that you don't
understand. Ask to use other types of
identifiers when possible, and dont
carry your SIN card, be sure to keep
it in a secure place.
Protect your mail. To stop a thief
from going through your trash or
recycling bin to get your personal
information, tear or shred your
charge receipts, credit card applications,
insurance forms, bank statements,
expired credit cards, and preapproved
credit offers. Deposit outgoing
mail in post office collection
boxes or at your post office. Promptly
remove mail from your mailbox after
it's delivered. If you plan to go away,
call someone to pick up your mail.
Guard your credit cards. Minimize
the information and the number of
cards you carry. If you lose a card
contact the card company immediately
to cancel the card. If you apply
for a new credit card and it doesn't
arrive in a reasonable period of time,
contact the issuer. Watch cashiers
when you give them your purchase.
Also, when you receive a new card,
sign it in permanent ink and activate
it immediately.
Pay attention to billing cycles.
Contact creditors immediately if your
bills arrive late. A missing bill may
mean an identity thief has taken over
your credit card account and
changed your billing address.
Safeguard your personal information
in your home. Especially if
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you're having service work done,
employ outside help, or have a
roommate.
Find out who has access to your
information at work. Be sure to verify
that your records are kept in a location
accessible only to employees
who have a legitimate reason to
access it.
Be smart about passwords and PIN
numbers. Memorize your passwords
and personal information and do not
carry them with you. Avoid using
easily available information like your
mothers's maiden name, your birthday,
the last four digits of your SIN
number, phone number or series of
collective numbers.
Other important facts:
Zero responsiblity doesn't mean
zero problems. Because Credit card
companies limit responsiblity to $50
in most cases of fraud, and because
many new cards include "zero
responsiblity protection" some people
think there is no reason to worry
about credit fraud. But credit fraud
can cause wide-ranging long-term
problems. Identity thieves can use
information to take over your credit
accounts and open new ones. They
can use your good name to get a job,
take out a car loan, or rent an apartment.
Check your credit report regularily.
Checking your credit report can help
you catch mistakes that can wreak
havoc on your personal finances.
Make sure your report is accurate
and includes only activities you've
authorized. It's also a good idea to to
review your credit report from credit
agencies every year.
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