Identity Theft Frauds Becoming More Serious

One in four Canadians reported that they have been, or someone they personally know has been, a victim of identity theft, according to a poll conducted for Intersections Inc. and Carlson Marketing Group Canada Ltd. by Ipsos-Reid.
Not only are the reported instances of identity theft growing, but the resulting frauds committed are becoming more serious.
Among those who have been a victim or personally know someone who has been a victim of identity theft, seventy percent said the identity theft resulted in unauthorized credit card purchases, the most frequent, but least costly form of identity theft fraud for consumers. However, significant percentages of these respondents reported more serious frauds, including takeover of existing credit card accounts (43%), the opening of new credit card accounts (36%) or new loans (22%), unauthorized bank account access (42%) and the use of the victims' personal information in other types of frauds, such as to obtain government benefits or medical care (24%).
What can you do to help stem the growing identity theft tide? 10 Ways to Prevent Identity Theft provides strategies that you can put into operation right now.