While 71% of Canadians are aware of the impact identity theft can have on their personal finances, including their credit scores, only 53% are taking steps to protect themselves, including managing social media account settings, finds a survey by Capital One.
Here are some additional findings.
- Millennials are more aware of the impact of identity theft when compared to baby boomers.
- Most Canadians protect themselves against fraud by not sharing their P.I.N. (88%) or regularly monitoring online banking and credit card accounts (76%).
- Only a small number of Canadians have enabled transactional push notifications on their mobile device (20%) or regularly check their credit report (21%).
- 71% say their credit score would be impacted if they became a victim of identity theft, yet only 12% use a credit score monitoring tool.
- 39% know what their credit score is and 27% have a good understanding of how it’s calculated.
Read the full story over at Advisor.ca
This story was summarized by Canadian Fraud News Inc.