Preventing Identity Theft

The problem of identity theft is growing. While there is no iron clad guarantee it'll never happen to you, there are a number of things you can do to reduce the risk of it happening.

It may look nice to have your personalized cheques showing your name and initials the way you normally use them, but it's not a good idea. It makes it easier for someone who may obtain one of your blank cheques to sign it just as you would.

The next time you order cheques from your bank or credit union, ask that only your first name initials be printed on the cheque. That way, if someone else tries to write a cheque on your account, they won't know how you sign your cheques - but your financial institution will. If you show a phone number on your cheque, use your work or cell phone number - not your home phone.

If you write cheques to make payments on your credit card balance, don't write your full credit card account number on the cheque - just the last four digits. The credit card company knows the rest of the number, but anyone who might be handling your cheque as it passes through cheque processing channels along the way won't have access to it.

If your wallet is lost or stolen, it's important to know what was in it. Use a photocopy machine to copy credit cards, licenses and other items in your wallet - both sides of them. The backs of many cards and documents contain information about numbers to call if the card or document is lost or stolen. Keep the photocopies in a safe place - and use them to help you immediately notify the appropriate organizations if your wallet is lost or stolen. If the wallet was stolen, you should notify the police immediately. Although it's unlikely they'll be able to track down the culprit, it will help prove to the credit providers that you were diligent.

And most important of all - if you think for any reason that you could be the victim of identity theft, call Canada's major credit reporting organization immediately. Have them place a fraud alert on your name and Social Insurance Number. If any applications for credit are made in your name and your credit rating is checked, you will be contacted by phone to authorize the new credit. The credit reporting organization that you should be sure to contact is Equifax - phone 1-800-465-7166 toll-free. Additional information and options for contacting them can be found on the Equifax Canada web site.

Another thing you can do to protect yourself from losses due to identity theft is to purchase insurance from Aviva Canada. Coverage available to members of Union Savings affiliated labour organizations includes lost wages from time spent away from work due to meetings with law enforcement agencies, legal counsel, or credit agencies. Access to a credit card registry and a legal help line are also included in the coverage. Ask for more details of identity theft insurance when you obtain a quote for home or auto insurance from Aviva Traders - or phone 1-877-787-7021.