Remind clients to order credit reports: FCAC

The Financial Consumer Agency of Canada (FCAC) recommends ordering credit reports at least once per year, from both TransUnion and Equifax.

In a release, the FCAC says, “This is more important than ever in light of recent cases of personal data breaches.” It adds it’s key to order reports from both agencies because each bureau “may have different information about consumers’ credit history.”

Read:

• Help clients protect themselves against fraud
• IRS issues contract to Equifax to validate taxpayers’ identities

FCAC adds that if a person suspects they’ve been affected by a data breach or by identity theft, they should ordering credit reports immediately. They’re available for free by mail, fax or telephone. It’s also possible to set up fraud alerts, though “TransUnion charges a one-time fee of $5.00 plus taxes.”

Also read: Tell clients to watch for psychic scams

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.