Smart ways to protect your identity online

(NC) Canadians live more of their lives online than ever before, from banking and shopping to working and staying connected. As our digital footprint grows, digital fraud is becoming more sophisticated, making identity theft an increasingly common risk. The good news is that a few smart habits can make it much harder for criminals to succeed. 

According to a recent Belairdirect survey, 59 per cent of Canadians say they’re unsure whether their current insurance policies cover identity theft. That uncertainty can add stress at an already difficult time, which is why understanding both prevention and protection matters.

Identity theft doesn’t always announce itself right away. 

Some common red flags include: 

• Passwords that suddenly no longer work.Unfamiliar transactions on your bank or credit card statements.
• Missing bills or statements you normally receive.
• Credit cards arriving that you didn’t apply for.
• Unexpected denials when applying for credit.

If any of these happen, it’s essential to act quickly. Change any passwords you have, cancel your credit cards and have them re-issued, and contact your financial institution to let them know—someone may try to impersonate you.

Simple habits that can help reduce your risk: 

• Monitor accounts regularly and review statements for unusual activity.
• Use strong, unique passwords for each account. Avoid using personal details.
• Limit what you share online, especially on social media.
• Be cautious with unsolicited emails, texts or calls requesting information.
• Avoid public Wi-Fi for banking or shopping.
• Shred financial documents before discarding them. 
• Check for secure websites by looking for “HTTPS” and the padlock icon in the address bar. 

Even with strong prevention habits, identity theft can still happen. Identity theft insurance can offer financial protection as well as peace of mind during what can be a stressful and time-consuming recovery process. Its coverage and features vary by insurer, so it’s worth reviewing your policy or speaking with your insurance provider to better understand what’s available to you.

Learn more about ways to help protect your identity and stay informed at belairdirect.com.