What’s your good name worth?
Plenty – if you are one of the unfortunate ones to have your identity stolen.
Unfortunately, identity theft is on the rise and the cost to Canadians is growing by millions of dollars each year, says Melanie Junkins of Peoples Credit Union.
Junkins was the guest speaker at a Greater Innisfil Chamber of Commerce breakfast meeting Nov. 12.
Identity theft happens when someone uses your personal information, unknown to you, to commit a crime, such as fraud, theft or forgery.
“Identity theft is a very timely topic, especially in times of economic turbulence,” Junkins says. “It’s become very prevalent in today’s society. Identity theft is the fastest growing crime affecting people, businesses, financial institutions and the government.”
There are many ways individuals, or businesses, can fall prey to identity theft, Junkins says.
Losing, or misplacing a wallet or purse, is one way. Having sensitive personal and financial information harvested from your household garbage is another method. Even the junk mail you discard at the post office – think of all those personalized credit card cheques offering low interest rates and balance transfer fees, can leave you at risk. Thieves can take your discarded mail and submit a change of address notification unknown to you.
For businesses, “dumpster divers” are out looking for records and information they use against you to their benefit, Junkins cautions. And don’t even think of leaving your office unattended, even for a moment.
There are professional criminals casing office environments who only need a minute or two to rip off valuable records from a desk, or an unlocked filing cabinet.
While no one is 100 per cent immune to identity theft, Junkins offers a variety of steps you can take to reduce the risk.
“The first thing I tell people is ‘Be aware.’ Protect your P.I.N. (Personal Identification Number). Regularly monitor all of your financial accounts and billing statements and know your credit bureau rating. You also need to shred your personal and financial information – even if it’s junk mail. It’s got your name and address on it, two things criminals are looking for.”
She also has tips for day-to-day living.
“In my research, I find people keep a lot in their purses and wallets. Do you really need to carry all of your credit cards, Social Insurance Number (S.I.N.) card and birth certificate with you? Your S.I.N. is a gateway to information. These should be locked away in a safety deposit box. Some people don’t even know what’s in their purse. At least write a checklist of what’s in there. If it’s stolen you can quickly notify the authorities.”
Reviewing your credit rating on a regular basis is important, too.
“It’s easy for something to appear in there,” Junkins says, “but you need a lot of time, and patience, to get it removed.”
Finally, “You have to be proactive, that’s why we do talks in the community,” she adds. “We update and train our staff on privacy issues on a regular basis.”
An excellent web site to learn more on the topic can be found at www.cmcweb.ca/idtheft
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