Identity Theft: Has Someone Been Trading On Your Good Name?

News Release

What you don't know can cost you - check your credit report
regularly for signs of identity theft
OTTAWA, August 8, 2005 -- The Financial Consumer Agency of Canada (FCAC) is
encouraging Canadian consumers to review their credit report regularly for the
warning signs of identity theft. To assist consumers in doing so, FCAC has
issued Understanding Your Credit Report and Credit
Score, a new booklet that offers key information on obtaining and
understanding a credit report and score and getting any errors corrected.

"Identity theft can have serious and lasting effects," explained FCAC
Commissioner, Bill Knight. "Canadians want to know how to keep their
information safe and what they should be doing to protect themselves. A good
place to start is to check your credit report regularly; it's one of the first
places where evidence of identity theft can become apparent."
"Identity theft is not always obvious. Thieves can use your personal
information to open a credit account, having the statements sent to a different
address so that you never realize there's a problem - until you apply for credit
and get turned down," said Knight.
Knight advises consumers to check their credit reports at least once a year,
paying particular attention to any credit products or accounts that they may
have not authorized or requested. If they suspect identity theft, consumers
should contact their financial institutions and the credit reporting agency
immediately.
FCAC's new booklet Understanding your Credit Report and Credit
Score provides information on how consumers can obtain their
credit reports for free by mail from the credit bureaus; how to understand the
information in a credit report; and how to get any errors that may show up on
their report corrected. The free booklet also provides tips on how to improve a
low credit score.
FCAC has also released the latest update of its popular guide,
Credit Cards and You. This comprehensive information
package includes useful general information on credit cards as well as
side-by-side, feature-by-feature comparisons of over 200 credit cards available
in Canada.
Understanding your Credit Report and Credit Score
and Credit Cards and You are available to the public
free of charge through FCAC's Web site (www.fcac.gc.ca) and the Agency's
toll-free Consumer Contact Centre (1-866-461-3222).
FCAC ensures compliance with the consumer protection laws that apply to banks
and federally incorporated trust, loan and insurance companies. FCAC also
provides consumers with accurate and objective information about financial
products and services, and informs Canadians of their rights when dealing with
financial institutions.
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Media contacts:

John Kane
Communications Officer
(613) 941-8988
kane.john@fcac.gc.ca

Martine Bélanger
Media Relations Officer
(613) 941-8982
belanger.martine@fcac.gc.ca

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Identity Theft: Has Someone Been Trading On Your Good Name?

News Release

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