Westworld Alberta
Issue link: http://westworldmagazine.ama.ab.ca/i/107274
working for you Fraud Stoppers Put the kibosh on crooks by safeguarding your personal information by Matt Currie T he RCMP's commercial crimes unit estimates that fraud costs Canadians between $10 and 30 billion every year. Most of us have at least one acquaintance or family member who has been a victim – their credit card, bank account and maybe their entire life commandeered by a stranger. Want to keep your identity out of the crosshairs? Here's how. Attend an AMA shredding event this year to get rid of unwanted personal documents. Thwart the phishers Stem the paper trail To start, shred personal documents before you toss them. Financial statements should be destroyed after one year, tax forms after seven. Even shred printed versions of seemingly innocuous details, such as your birthdate, address, mother's maiden name, credit-card expiry date and signature. "Fraudsters are very creative," says Dave Terletski, director of risk management at Bridgewater Bank, the AMA subsidiary that provides the CAA MasterCard. "Once they have that information, they can do things like access your bank accounts, or even open new accounts. They'll transfer bank balances, they'll apply for loans, credit cards, mortgages or government benefits." Keep current statements and other sensitive documents, including your passport, licence paperwork and SIN card, in a locked safe, out of sight. Scrutinize your monthly card statements, and call the financial company if you notice anything unusual. Ordering a credit report once a year is also a prudent measure – Equifax and TransUnion are the primary sources in Canada, and the reports are free if requested by phone or mail (ama.ab.ca/westworld/articles/free_report). Another option is to subscribe to a creditmonitoring service that alerts you to changes in your credit report. Equifax, TransUnion and other companies offer these for a monthly fee. Raise your digital defences The Internet age has opened a host of new avenues for the fraudulently inclined. The first step in fending off a digital invasion is using strong passwords and changing p58-59_Working for You.indd 59 them regularly; combinations of letters and numbers are best. Also be sure to turn off the auto-fill function in your browser's "Preferences" section, delete all cookies after each session and avoid saving passwords on your computer. If you must write them down, store them in a safe spot, such as a deposit box or safe. You should also limit the amount of personal information you share on social networking sites such as Facebook – stay mum on your birthdate, address and any travel plans, and keep your profile set to private. Do your online shopping and banking on secure sites only (website addresses that start with "https" as opposed to just "http"), using a low-limit credit card. You can't go wrong with big operators such as eBay or Amazon; on smaller sites, look for the presence of secure payment-transfer service PayPal. If you manage your finances online, save data on a password-encrypted thumb drive to avoid viruses that scour your hard drive for key words such as "PIN" and "bank" and number patterns. Protect your computer with virus software and a firewall. Some crooks use a method known as "phishing"– cooking up fake emails, text messages and websites that resemble those of trusted businesses, financial institutions and government agencies, but are designed to trick you into surrendering sensitive information. Never, ever email credit card, bank account or PIN numbers, or disclose them on the phone if you weren't the one who initiated contact. "Phishers have official-looking logos that make it seem very authentic," Terletski explains, "with phrases that would invoke you to urgency like, 'We regret to inform you that your personal information has been compromised; we need to validate this information.'" But a legitimate institution will never contact you in this fashion. Instead of responding, contact the organization via its official phone number or website. Ultimately, the most effective defence against fraud is appreciating the value of your personal information. Criminals see it as a precious commodity – do the same and you won't be an easy mark. LEARN MORE Think you've been a victim of fraud? Report it to the police, your financial institution and the Canadian Anti-Fraud Centre. 1-888-495-8501 AMA is holding shredding events across Alberta this spring. Last year more than 8,800 people shredded around 170 tonnes of documents at similar events. Bring along a donation for Alberta's food banks — we'll be collecting. ama.ab.ca/Shredding W e stw o r l d >> f e b r u a r y 2 0 1 3 59 13-01-16 11:14 AM