Credit Cards

Identity Theft

Some Facts About Identity Theft

Unfortunately, identity theft is a growing problem in Canada. The internet is an amazing tool but can also serve as a highway for your information to travel into the wrong hands. The PhoneBusters National Call Centre received 7,629 identity theft complaints by Canadians in 2002. Those victims reported a total loss of more than $8.5 million. In the first quarter of 2003, there were 2,250 complaints filed with PhoneBusters with reported total losses of more than $5.3 million. As you can see, this problem is not going away.

Luckily, most credit companies have action plans when faced with identity theft but you need to make sure you are doing your part as well.

Equifax and Trans Union of Canada indicate that they receive approximately 1400 to 1800 Canadian identity theft complaints per month. The majority of those complaints are from the province of Ontario. In addition to your creditors, your credit reporting agencies are on your side when it comes to identity theft. The important factor in this equation is communication. The following information is designed to assist you, as the consumer, in preventing and resolving identity theft.

(source: www.publicsafety.gc.ca)

How You Can Help Protect Yourself From Identity Theft

Unfortunately, there is no surefire way to protect yourself from identity theft. But there are steps you can take to minimize the chances that your information will be stolen and used by a thief.

The first part of this publication is organized into checklists you can use to put these ideas into practice. The second part of this booklet will give you steps to take if you are a victim.