Canadians are more vigilant on fraud prevention

According to a recent survey released by Equifax Canada, Canadians are showing signs of increased vigilance when it comes to protecting themselves against fraud.

In fact, 91 per cent of those polled say they’ve taken better steps to protect their personal information, and calls to fraud alert hotlines increase by 28 per cent in 2016.

However, the issue of fraud in Canada continues to be a big one, costing victims over $108-million last year, which is actually up 15 per cent from 2015. In addition, 90 per cent of Canadians surveyed feel vulnerable to fraud, with 80 per cent reporting that online activity makes them feel vulnerable to fraud.

Since March is Fraud Prevention Month in Canada, now is the perfect time to arm yourself with your best tool against fraud—information. Here’s some ways you can be more fraud vigilant:

• Check your statements regularly and often (credit card, bank etc.)
  • If you notice suspicious activity, report it to your financial institution
  • 65 per cent of those surveyed currently do this
• Shred personal documents after you no longer need them
  • This includes anything with identifying or financial information on them
  • 57 per cent of those surveyed currently do this 
• Keep your online passwords updated
  • Change all of your online passwords regularly, don’t use the same one for multiple accounts
  • 49 per cent of those surveyed currently do this
• Keep your personal updates online to a minimum
  • Stray from telling people identifying information on social media
  • 39 per cent of those surveyed currently do this
• Check your credit report
  • You can also sign up for automatic updates from Equifax or TransUnion
  • 21 per cent of those surveyed currently do this

For more tips on fraud prevention and Fraud Prevention Month, visit the Competition Bureau of Canada online.

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