7 ways to protect yourself from ID theft

According to the CAFC, these are some of the most common ways that criminals steal Canadians’ identities:

• Taking personal or financial information from your recycling bin or mailbox
• Obtaining your information through a spoofed website, which is a fraudulent website set up to look like a site from a trusted source, like a bank
• Pretending to be a bank or government employee to “phish” for information by phone, email or text

By the time the victim realizes what’s happening, the fraudsters may have used the personal information to drain their bank accounts or take out a loan in the person’s name, for example.

Dealing with the aftermath of ID fraud can be time-consuming and stressful, from trying to recover lost funds to repairing a damaged credit score. That’s why being alerted to any fraud early, and avoiding identity theft in the first place, is so important.

How to protect yourself from ID theft

You can take a few simple steps to protect your personal and financial information. Some of these strategies are low-tech deterrents, such as locking your mailbox and shredding sensitive papers. You can also regularly check your credit reports online and use a credit monitoring and ID protection solution from Equifax, a Canadian credit bureau. Equifax Complete^TM is a suite of products that will alert you to key changes to your Equifax credit report, like new credit cards opened in your name, which can help you spot fraud faster.

Keep reading for more on these tools, plus other effective ideas for defending yourself from identity thieves.

1. Lock your mailbox.

Your mailbox often holds sensitive information, such as your social insurance number (SIN), credit card numbers, banking information and more. Purchasing a lockable mailbox is a small investment ($40 and up), but it goes a long way to protecting yourself from identity theft actors. Another option is to rent a post office box, which is kept locked. 

2. Shred financial documents.

In the same vein, fraudsters will go through your recycling bin to find any sensitive documents. By shredding personal letters from banks, credit card companies and the government, you can avoid being an easy target. You can buy a paper shredder at an office supply store, starting at $20.

3. Be wary of phishing scams.

Phishing scams over phone, text, email and social media have exploded with the advent of artificial intelligence (AI). Scammers can now easily send out mass messages, pretending to be bank or government employees, and they sound more legitimate than ever.

Never give out your personal information online or over the phone unless you have initiated the interaction. If an email smells off—say, it has spelling mistakes or the wrong font—it probably is. Don’t click on or reply to suspicious messages. Easy-to-spot signs of fraudulent emails include prompting you to click from the email instead of telling you to check notifications on your account; email addresses and links that look wrong (even if only by a letter); or anything else that makes you question their authenticity. Equifax can help with this. As part of its most comprehensive credit monitoring service, Equifax Complete Protection, Equifax has partnered with Bitdefender to provide device protection that can help alert you to suspicious emails and texts.

4. Practice good cybersecurity habits.

Identity theft actors may try to gain access to your email and online banking platforms. Never share your SIN or credit card numbers when you are connected to public Wi-Fi, and always use complex passwords with a long mixture of letters, numbers and symbols. A digital password manager (an app that stores all your log-ins) that does regular checks for security leaks is also a good idea. Equifax Complete Protection can also help with this. Equifax has partnered with Nord to provide a password manager that will generate unique passwords and safely store them across all your devices. Equifax Complete Protection also includes NordVPN, which encrypts your online data and can help keep your information secure when you’re using public Wi-Fi.

Another good idea is to enable two-factor authentication (2FA), when possible, to add an extra layer of security on important accounts.

5. Get daily credit alerts with Equifax Complete.

One of the most stressful aspects of being a victim of identity theft is that you may not be aware it’s happened for days, weeks or even months—meaning there may be a lot of damage to undo. All of the Equifax Complete products will alert you when key changes to your Equifax credit report are made. This can include when someone makes a credit card application in your name or a new phone number is added to your credit report. These alerts can help you spot if someone is using your personal information to open new credit accounts. If someone does steal your identity, Equifax Complete helps with the recovery process. You get up to $1 million in identity theft insurance (not available for residents of Quebec) and a dedicated identity theft restoration specialist on your side. 

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Equifax Complete Protection

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Equifax Complete Protection is a credit and cybersecurity protection service designed to help Canadians spot the signs of identity fraud faster.

• Provides daily credit monitoring and alerts
• Scans for your personal data on the dark web
• Social media monitoring by industry leader ZeroFox

Subscription price: $34.95 per month

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6. Set up dark web monitoring and alerts.

It’s no longer a matter of if, but when, your personal data will be compromised. When that happens, your personal information can end up on the dark web—hidden websites not accessible through regular web browsers—where cybercriminals can buy it to commit fraud. A dark web monitoring service, like the WebScan feature that’s included in the Equifax Complete suite of products, will scan the dark web and alert you if your personal information is found.

7. Report online fraudsters.

If you suspect your identity has been compromised, report it to your local police right away. You should also report any cases of fraud to the CAFC so it can track how prevalent these kinds of scams are in Canada. Fill out information online in the Fraud Reporting System or contact the CAFC at 1-888-495-8501. You should also contact both Canadian credit bureaus to place a fraud alert on your credit reports.

Unfortunately, as ID fraud becomes more prevalent, the question is not if but when your data will get compromised.

Equifax Complete is your best bet to detect fraud faster and also help you recover your stolen identity.

Equifax Complete Protection offers Equifax’s most comprehensive credit, ID and online protection. For $34.95 a month, you get credit and ID monitoring and restoration services, as well as five layers of defense: social media monitoring, device protection, parental controls, password manager and VPN. Try Equifax Complete Protection for $9.95 for 30 days.

More about fraud:

• Your ID was stolen, here’s what to expect
• Canadian seniors, watch out for these scams
• 6 phishing scams targeting young Canadians (and how not to fall for them)
• Financial fraud in Canada: What to do if your bank account or credit card is compromised

About Danielle Kubes

Danielle Kubes is a freelance journalist living in Toronto. She has a master’s degree in journalism from Toronto Metropolitan University.

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