Identity theft is a growing concern for millennials, due to our strong online presence and our tendency to overshare personal information especially via social media. This makes it easy for criminals to get all the information they need to commit fraud.
What is Identity Theft?Identity theft occurs when someone uses your personal information without your consent or knowledge to commit fraud or theft. A very common identity theft scam is when someone uses a stolen credit card to make purchases (typically online).
When is Your Identity at Risk?
The Ontario Securities Commission mentions several instances when your identity is at risk:
- When you enter your credit card information on a non-secure website
- When you click on an e-mail link from what looks like a legitimate source and enter your account information
- Anytime your personal information is available to others
- When you give your credit card’s 3 digit security code over the phone to someone who claims to be from your financial institution
- When your personal information such as bank card or social insurance card
What Can You Do to Protect Yourself?
- Use strong passwords and use different passwords on each website
- Avoid using public Wi-Fi, especially to access your financial accounts
- Don’t overshare too much of your personal information publicly
- Monitor your bank and credit card accounts daily