In an effort to reduce some of that impact, a new Identify Theft Statement was developed by a working group of Consumer Measures Committee (CMC) and is being introduced as a standard for Canada. This statement can be completed by the victim of identity theft and presented to ACE Credit Union, your credit card company or any other organization that have or may be affected by the theft. The Statement will serve as an official record that these organizations can use to begin investigations. This statement in and of itself is not the complete documentation and it is still the victims responsibility to make a police report or to gather evidence to support the statement.

Since financial institutions are one of the prime areas affected by identity theft, which often result in fraudulent applications for credit products such as loans, mortgages and credit card we are providing our members with a link to the CMC’s Identity Theft Web page.

There are two very useful Identify Theft Tools available.

The first is the Consumer Identity Theft Kit. This kit identified strategies for consumers to help them reduce the risk of becoming a victim of identity theft. It also contains steps that advise consumers on what to do if they are a victim as well as tips on what they can do to minimize the damages.

The second useful tool is the Business Identity Theft Kit. In this kit, business owners can learn how to protect their customers’ personal information along with tips for reducing the risk of theft, what to do when a thief strikes and information on what and how to tell customers about a breach.