Identity Theft
By: Bonnie VoIdentity TheftIdentity theft is the possession of
another persons personal information for criminal purposes.
Identity Theft: What is it?
Identity thieves use personal information such asdate of
birthfull nameSocial Insurance Numbersfull addresspassport
numbercredit card informationBank account numbersPersonal
identification numbers (PIN)to pretend to be someone they are not.
How?
What is this information used for?
With your personal information, identity thieves canOpen and/or
access bank accountsTransfer bank balances Make purchases with your
moneyApply for loans, credit cards, etc. Hide criminal activity In
other words, they make decisions in your name!
Brian Perrault, a 42 year old man in Toronto, had his identity
stolen for 8 yearsHe first realized that his identity was stolen
when he received traffic tickets from places he had never visitedHe
had his drivers license suspended, leaving him unemployed and
unable to pay child supportIn 2011, he was pulled over by cops, who
were searching for the man identifying himself as Brian. As a
result, he had missed his grandmothers funeral. Finally, the thief,
Robert Shawn Maitland, was pulled over for having no tail lights,
but was identified as the wanted manIdentity Theft Case: Brian
PerraultIdentity thieves obtain your information using a number of
devious methods, including:Skimmingcredit card devices programmed
to steal your credit card informationPhishingemails or pop-ups that
pretend to be from a financial institution, tricking you into
entering in your financial information Dumpster divingthieves
rummage through trash to find financial information and personal
documentsHackingexperienced scammers may be able to access online
databases to obtain personal informationTelephone Solicitorsthieves
that trick you into providing financial information over the
phone
How is this information obtained?
With identity theft of businesses, money and finances are
typically the major concerns. Money is stolen directly from the
business, and merchandise is charged to the business' credit
cardsIf unauthorized credit card transactions remain unpaid, it can
significantly impact a company's credit rating, and chances of
getting approved for loans in the futureAlthough unpaid bills and
loans are due to the criminals and not the business, it's
reputation is still negatively affected if reports are filed
against them. Risks of identity theft regarding the business
Preventing identity fraud means protecting your own information,
as well as the businesss, by considering the following tips:Be
careful when giving out personal information over the phone or
online, especially if the source seems suspicious Carry as few
personal documents with you as possible Check bank and credit card
statements regularlyIf any suspicious activity is found, report it
immediately Never write down passwords or important numbers, as
they can always be found and read by someone else Shred important
documents before throwing them in the trashChoose passwords that
are too hard to be guessed, but easy enough to be remembered
without writing them down
Protecting yourself & the business
Martin & Hillyer LLP, a small business from Burlington,
Ontario, had their phone system hacked, and suffered an identity
theft From hacking the phone systems, the criminals were able to
accumulate more than $200 000 in phone charges to AfricaAfter the
incident was resolved, Martin & Hillyer turned off their phone
system after hours and reminded its employees to protect their
passwords, to prevent similar events from occurring in the
future
Identity Theft Case: Martin & Hillyer LLP
Contact your financial institution to have credit cards replaced
and hacked bank accounts closed, to prevent being liable for
further unauthorized chargesSpeak with the local policeHave ID
cards replaced (e.g. health card, driver's license, SIN)Videos:
Steps you can take if your identity has been stolenDealing with
Identity TheftIdentity theft is a serious crime, with severe
consequencesIt can significantly change the victim's life; to some,
it is seen as a nightmare It is extremely important to be aware of
what it is and how it works in order to prevent it!
Conclusion
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