Your identity has been stolen — what does that actually mean, and how might it affect you going forward? Identity theft is stressful and disruptive. You may be worried about protecting your credit score, preventing further misuse of your personal information, and repairing the damage caused by fraudsters.
Identity theft is increasing in Canada. In 2023, more than 11,000 cases of identity fraud were reported to the Canadian Anti-Fraud Centre (CAFC), and experts believe many incidents go unreported, so the true number is likely higher.
Modern identity theft is often digital rather than the old model of rifling through paper mail. Attackers now commonly use data breaches, phishing scams, malicious software, and even AI-enabled impersonation to steal personal and financial details. These tactics can expose your social insurance number (SIN), credit card and bank account numbers, login credentials, and other sensitive information. Understanding how identity theft happens and what to do next will help you limit the damage and reduce the chances of it happening again.
What is identity theft?
Identity theft occurs when someone obtains your personal or financial information and uses it to commit fraud. That can include opening credit accounts in your name, applying for government benefits, making purchases, or accessing your bank accounts and withdrawing funds.
While paper-based methods like stolen mail still happen, most attackers now work online. They may use phishing emails or texts, fraudulent phone calls, or compromised websites to trick you into revealing passwords or account numbers. Criminals also exploit public Wi‑Fi, weak passwords, and large-scale data breaches. Once an identity is stolen, the information is often sold or distributed, increasing the chance that multiple fraudsters will target the same victim.
How to report identity theft in Canada
If you suspect your identity has been stolen, act promptly. File a report with your local police — don’t wait for confirmation — and keep a copy of the report for future disputes with banks or credit agencies. If you believe your SIN has been compromised, contact Service Canada at 1‑866‑274‑6627 to report it.
Report the incident to the Canadian Anti‑Fraud Centre so it can track trends and provide guidance. The CAFC accepts reports online through its Fraud Reporting System, or by phone at 1‑888‑495‑8501.
Next, contact the major credit bureaus to place a fraud alert or lock on your credit file so lenders are warned before new accounts are opened in your name. Monitor your credit reports and scores closely for unfamiliar accounts, inquiries, or changes. In Canada, Equifax provides credit reports and monitoring services that can help you spot suspicious activity quickly.
Equifax Complete Protection
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Equifax Complete Protection is a subscription service that combines credit monitoring with cybersecurity tools designed to help Canadians detect identity fraud sooner and simplify recovery if a breach occurs.
- Daily credit monitoring with alerts for important changes
- Dark web scans to check whether your personal data has been exposed
- Social media monitoring for suspicious activity
Subscription price: $34.95 per month
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It’s confirmed — your identity has been stolen. What now?
When identity theft is confirmed, expect increased targeting. Criminals often trade or resell stolen data, making victims more likely to receive additional scam calls, texts, or phishing attempts. The fraud may also lower your credit score if accounts are opened and used in your name, which can make it difficult to obtain credit, rent housing, or qualify for loans until the issue is resolved.
Protective measures at banks and credit bureaus can make legitimate account openings and credit applications more cumbersome for you because of extra identity verification steps. But these safeguards are necessary to prevent further fraud. Resolving identity theft can take time — sometimes months or longer — so start recovery steps immediately and keep detailed records of every phone call, email, and document related to the incident.
What can help: identity monitoring and recovery services
Dealing with identity theft can be stressful and costly. Services that combine credit monitoring, dark web scans, device protection, and restoration support can simplify the recovery process. For example, Equifax Complete Protection offers daily Equifax credit monitoring, dark web WebScan, social media monitoring, and restoration specialists who assist victims of identity theft. Some plans also include tools to protect devices and passwords and may offer insurance coverage for certain identity theft-related costs (coverage varies by province).
These services do not prevent all fraud, but they can help you detect suspicious activity sooner, respond faster, and access professional help to restore your identity and credit. Evaluate any product carefully to understand what it covers and whether it fits your needs.
This article is sponsored.
This is a paid post that provides information and features a client’s product or service. It was produced by MoneySense with contributions from assigned freelancers.
More about fraud:
- 7 ways to protect yourself from ID theft
- Relationship fraud and romance scams: What Canadians need to know
- How to help protect your loved ones from senior scams
- 6 phishing scams targeting young Canadians (and how not to fall for them)
- Financial fraud in Canada: What to do if your bank account or credit card is compromised
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