According to Statistics Canada, Canadian retailers sold $3.83 Billion in gifts of jewellery and watches in 2014 and 6% of those sales were made online. By 2019, Canadian online purchases are expected to increase to 10%.

Online shopping from the convenience of laptops, tablets and cell phones, can be a shopper’s dream, no trudging from store to store only to end up in a long line at the checkout, but it can also leave the buyer open to scams. Internet schemes such as hacking, skimming and phishing are used by criminals to gather information such as the full name, date of birth, social insurance number, credit card information, address and mother’s maiden name of  their potential victim. Once this information is obtained it can then be used to access the victim’s bank account, open a new bank account, make purchases, apply for mortgages or loans in the victim’s name or hide criminal activity.

In order to protect your identity be internet savvy:

• Buy only from reputable companies
• Know exactly what you are buying
• Understand the terms and conditions
• Know the exact dollar amount of your purchase including delivery fees
• Clean your browser’s cookies once you’ve completed your purchase
• Check your credit card and bank account statements for fraudulent charges
• Check credit reports with Equifax and TransUnion regularly
• Change your passwords regularly

Know the warning signs:

• Websites that present incredible savings
• Websites that ask for your credit card information before you enter the site
• Websites that use tricks like disabling your browser’s back button or opens a new window every time you try to close one
• Never deal with a vendor who does not post a privacy policy

The Royal Canadian Mounted Police urge consumers who believe they have been the victim of identity theft or fraud or unwittingly provided personal information or financial information to report it:

·         Step 1 - Contact your local police force and file a report.

·         Step 2 - Contact your bank/financial institution and credit card company

·         Step 3 - Contact the two national credit bureaus and place a fraud alert on your credit reports.

o    Equifax Canada
Toll free: 1-800-465-7166

o    TransUnion Canada
Toll free: 1-877-525-3823

·         Step 4 - Always report identity theft and fraud. Contact the Canadian Anti-Fraud Centre

Talk to Team Insurance Brokers Inc. about identity theft coverage before you suspect that your identity has been stolen. When added to your homeowner’s insurance policy, Identity Theft coverage helps with the costs of recovering your financial history and other matters associated with identity theft, as well as legal advice, if needed.

At Team we take care of your insurance needs.