(NC)—Gone are the days when identity theft and corporate espionage were the makings of a good spy novel. Today these criminal activities impact millions of people and businesses each year.
According to the Canadian Council of Better Business Bureaus, identity theft costs Canadian consumers and businesses an estimated $2.5 billion annually.
Identity theft can ruin an individual's credit rating. Identity thieves steal records with an individual's personal information, such as a Social Insurance Number, bank account or credit card numbers or medical records. They find the information by stealing wallets, mail, bills, even receipts from retailers. Identity thieves also sift through garbage and recycling bins. They then use this information to sign up for new credit cards, open bank accounts, secure loans or government benefits.
The problem is not only a concern for consumers – businesses are also at risk. Theft of employee, customer or confidential information about the company can ruin a company's reputation and its financial health.
"Identity theft is one of the fastest growing crimes in North America," said Greg Brophy, President and CEO of Securit. "The best safeguard against identity theft and fraud is to shred confidential personal and business documents."
Laws such as the Personal Information Protection and Electronic Documents Act offer some protection by requiring organizations to develop guidelines to determine how information is protected in-house, in transit and upon destruction. Individuals should also take action to protect themselves. On-site document destruction company, Shred-it, a Securit company, recommends the following tips to prevent identity theft and fraud at home and in the workplace.
At Work:
• Store personnel files securely
• Develop a document management system
• Shred old files and documents
• Educate yourself about your company's privacy policy
ID Theft Prevention at Home:
• Limit use of your Social Insurance Number
• Shred documents containing personal information as well as envelopes and return address labels. Don't have a shredder? Watch for information about Shred-it's Community Shred events near you and take your documents to be shredded for free
• Don't give out information unless you know who you're giving to
• Take receipts from stores
• Protect your Personal Identification Numbers (PIN)
• Ask about company privacy policies
By following these simple tips to safeguard your information, you can deter identity thieves and minimize your chance of becoming a victim.
- News Canada
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