Equifax Canada

April 29, 2011 13:13 ET

Equifax Canada Cautions: Fraud Alerts Alone Are Not Enough Protection Against Data Breaches

TORONTO, ONTARIO--(Marketwire - April 29, 2011) - In light of recent major data breaches that may involve more than 80 million people, Equifax, a leading provider of credit information, risk management and identity services advises consumers to be proactive about protecting their personal information from misuse. Equifax cautions that fraud alerts alone offer only one-sided protection.

"Fraud alerts have long been recognized as one of the strongest methods of identity protection, however, they aren't enough," says John Russo, Chief Privacy Officer, Equifax Canada. "Account information like credit card numbers for your existing accounts remain vulnerable to identity thieves even with an active fraud alert."

Fraud alerts are primarily designed to protect consumers against the most insidious form of identity theft, new account fraud. However, identity thieves and hackers may still use stolen information like credit card numbers to commit fraudulent activity on existing accounts.

In addition to contacting card issuers and financial institutions and placing a fraud alert on your credit report, Equifax advises consumers to consider the added protection of a credit and identity protection monitoring product. Comprehensive products like Equifax Credit Watch provide daily credit monitoring and alerts of key changes to your file so you can act quickly to minimize any serious damage.

While organizations determine the best ways to implement stronger infrastructure security measures to protect consumer data, you can act proactively to control unauthorized use of your personal information and minimize your exposure to financial damages and future risk.

For more information about Equifax visit www.equifax.ca. To place a fraud alert on your Equifax credit file please call: 1 800 465 7166.

About Equifax, Inc.

Equifax is a global leader in commercial and consumer information solutions, leveraging one of the largest sources of business credit intelligence, portfolio management, income, employment and wealth verification, identity authentication/fraud detection and marketing demographic data worldwide.

Through its unique data and analytical insights, powered by proprietary technology, Equifax delivers customized, high-value decisioning solutions to more than 4.4 billion accounts in 81 million businesses and provides millions of individual consumers with information and services to support management of their personal credit information and protection of their identity that are vital to their financial well being. Headquartered in Atlanta, Ga., Equifax Inc. spans four continents and 16 countries, is a member of Standard & Poor's (S&P) 500® Index and its common stock is traded on the New York Stock Exchange under the symbol EFX. For more information, please visit www.equifax.com.

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