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Understanding Identity Theft And The Early Signs Of Identity Theft

Identity theft is one of the most prevalent type of white-collar fraud in Canada and around the world. Understanding about identity theft will help you to protect yourself from fraudsters and identity thieves.

Identity theft is also known as identity fraud. It involves obtaining personal information and financial data illegally by fraud or deception. This data is used for the financial gain such as  

  • Applying for loans and credit cards with your identity
  • Withdrawing fundus from your bank accounts
  • Obtaining medical aid by using your insurance details
  • Using your SIN number for fraudulent means
  • Selling your personal information to criminals in the dark web, who then use it to carry unlawful activities such as terrorism

You have to consult an experienced fraud lawyer in Toronto, if you are a victim of identity theft. Some common types of identity thefts include credit card fraud, tax-related frauds, employment frauds, phone frauds and bank frauds.

Signs of Identity Theft

Here are some warning signs of identity theft, you should pay attention to. The earlier you identify the theft, the better chances to save yourself.

  1. Not Receiving Utility or Other Household Bills

If you do not receive the monthly utility bills, it mostly means that your personal information is compromised. The identity thief has accessed your personal data and has changed your billing address. If you do not receive the household bills in your mail, contact the service provider immediately to confirm the reason.

  • Your Credit Score Is Low

If you notice that your credit health is low, in spite of not having any outstanding debts, it means that your personal data is stolen. Someone has accessed your personal data and is using your information to get loans.

  • Your Accounts Have Fraudulent Transactions

If the bank accounts, credit card accounts or any other financial accounts reflect fraudulent transactions that indicates that your financial and personal data is stolen.

Other signs of identity theft include appearance of test charges, receiving invoices for unauthorized purchases, and overdue payments for your credit cards.

If you discover any signs of identity theft, it is advisable to consult a fraud lawyer in Toronto immediately. The lawyer will guide you through the next course of action to stop the fraudsters from using your personal information and protect yourself.