What is Identity Theft?
Learn about the different types of identity theft and how they can impact you.
Understanding
identity theft
Identity theft is when someone steals your personal information and uses it for criminal activity. It’s one of the fastest-growing crimes in the world.
It ranges from thieves stealing your Social Insurance Number (SIN), to opening credit card accounts, fraudulently billing your clients, and everything in between. These attacks can have a long term impact on your financial and personal well being.
You can recognize signs of a potential identity theft threat by finding unrecognized credit lines in a credit report, finding your private information on the dark web, and finding unrecognized login attempts to your personal accounts. But the easiest and most comprehensive way to fight this type of crime is by using a professional service, like IDShield.
Types of identity theft
Learn about some of the more common types of identity theft in Canada.
Synthetic identity theft
When a thief steals someone’s Social Insurance Number (SIN) and attaches it to a new name, date of birth, and other personal information. This creates a new, fictitious person. This is one of the most common types of ID fraud.
New account fraud
Thieves often use someone’s personal information to create new credit card, utility, or cell phone accounts. They also use children’s stolen personal info to do this, which can go undetected for years because children don’t typically have credit reports.
Account takeover fraud
When a thief gets a victim’s account login credentials, logs in, and adds themselves as an authorized user. Thieves can log in to your credit card account and make changes, or request a card. This type of fraud is difficult to detect with normal credit monitoring.
Medical identity theft
Thieves fill prescriptions and receive medical treatment using stolen personal information. Medical identity theft can impact victims’ medical files and their medical history. In worst case scenarios, medical treatment decisions are made based on false information, leading to medical harm.
Business identity theft
When thieves use a business name to fraudulently bill clients, or try to get credit using the business name. Often, culprits either know the business owner or worked for them.
Theft is on the rise
Reports are up by over 400% since 2010 and it’s led to over $3.3 billion USD in losses. In the time it took you to read this page, there were 10 new identity theft victims.
Theft is on the rise
Reports are up by over 400% since 2010 and it’s led to over $3.3 billion in losses. In the time it took you to read this page, there were ten new identity theft victims.
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Each plan covers:
- Identity protection
- Identity restoration
- Financial protection
- Cybersecurity
Individual Plan
Protects one person
Family Plan
Protects you, your spouse or domestic partner, and up to 10 children living with you
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