Steps to take if your Personal Information is Compromised

by Achieva Financial
Jul July 22

If your personal information has been stolen or compromised, taking protective steps quickly can minimize the risk of identity theft and fraud. Here are some steps to take if you believe your information has been compromised.

File a police report – Contact your local police to file a police report of the incident. Then get a copy of the report or at the very least, the report number. This will prepare you for when you are contacting your financial institution and other agencies, as they usually require a report number.

Contact your financial institution right away – Your financial institution will be able to “flag” your account and identify that your information has been compromised. They can put stop payments on cheques you might have had in your purse or wallet, cancel your ATM card, give you a new online banking password, leave a message on your account so other employees know the situation, and contact their Risk Management department to help monitor your account.

Alert your credit agencies - If your credit card has been stolen, contact consumer reporting company Equifax to place a fraud alert on your credit reports. Along with this, notify your credit card provider of the situation and have them cancel your stolen card and issue you a new one with a different number.

Notify provincial agencies – If your driver’s license or other government-issued identification has been stolen, contact the agency that issued the identification. Follow their procedures to cancel the identification and get a replacement, and ensure the agency flags your file as well.

Stay alert – Just because you’ve notified who you needed to about your compromised information doesn’t mean you should rely solely on them to protect you. Consistently monitor your accounts, use caution when using online banking and opening emails, and take action quickly if you sense something is wrong.