Identity Theft: Due Diligence Required

Break-and-enters are so 20th century. Today’s criminals are trading in crowbars for keyboards, and they’re using your identity to steal your money, apply for credit cards in your name, and even forge passports.

Identity theft is growing in North America, and it got worse throughout the pandemic with prolific use of credit cards and digital payment methods. There’s no doubt about it – we’re putting so much of our personal information “out there,” that it’s more of a matter of when we will be victims of identity theft, not if. Here are a few ways that you can combat identity theft:

Due diligence

Strengthen and change your passwords frequently. Only shop on trusted websites and use trusted WiFi, which can be a challenge when you’re on the road. Regularly monitor your credit report. Shred old bills, statements, and credit applications because thieves aren’t above a little dumpster-diving.

Look for red flags

If you suddenly receive mysterious credit card statements in your name, or stop receiving your regular bills, there’s probably some fire behind that smoke. Be proactive and don’t ignore unusual billing activity.

Report, report, report

If you think you are a victim of identity theft, make sure you notify both credit bureaus (TransUnion and Equifax), your creditors, and the police as well as local anti-fraud agencies.

Recover your losses

Banks and credit cards are very good about returning money to victims of identity theft; timely reporting and good record-keeping will ensure a seamless recovery.

No lasting legacies

After the dust settles, request a fresh copy of your credit reports to make sure any fraudulent activity has been erased. If you need to dispute an error on your credit report, go to the lender first to get them to fix it on their end, and then update the credit bureaus.

Online Shopping & Wifi 

Only shop on trusted websites and use trusted Wifi, which can be a challenge when you’re on the road.