In honour of Fraud Awareness Month, Equifax came out with this infographic designed to highlight the four most popular types of fraud: identity theft, application fraud, money laundering and data breaches.
While the infographic is pretty straight forward, it emphasizes how important it is to monitor your credit information and act quickly when you identify signs of fraud.
Many of the frauds stem from access to personal information – like credit card slips, bank statements, and SIN numbers – highlighting the need to keep the information under wraps, and shred documents diligently.
There are also some shocking statistics in the infographic – most notably, 1 in 3 customers who received a notice informing them of a data breach became victims of fraud themselves. That only proves that companies have to boost their cyber security and, until they do, the onus is on the consumer to protect themselves.