The keys to protecting your business against fraud

Businesses and consumers urged to be more vigilant about fraud

This year marks the 12th anniversary of Fraud Prevention Month, the annual public awareness campaign held every March that aims to prevent Canadians from becoming victims of fraud, and encourages Canadians to recognize, report and stop it from happening.

According to the Canadian Anti-Fraud Centre, it is estimated that less than five per cent of the total number of fraud victims report their experiences to law enforcement agencies.

Over half of Canadians (54 per cent) say they are more concerned about identity theft today than they were a year ago, results that came out of a recent study by Equifax Canada on consumer spending habits online and in stores.

Equifax Canada organizes, assimilates and analyzes data on more than 600 million consumers and more than 80 million businesses worldwide, and its databases include more than 200 million employee files.

“Do not give out your personal information unless you have initiated that contact,” says Kristina Zentil, director of fraud strategy and identity management for Equifax Canada.

“Also, protect your social insurance number and your mail to prevent the creation of a synthetic identification.”

Criminals are targeting consumers and business owners to apply for credit or a financial product on your name or business, she explains.

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