Financial Debt Recovery Limited

What to Do If You Are a Victim of Fraud

An emergency checklist: place bureau fraud alerts, freeze compromised accounts, file a police report and submit the affidavits creditors require.

Added to Learning Center:

Published Date
Original publication date not recorded
Last Updated Date
Original update date not recorded

By Financial Debt Recovery Limited Compliance & Editorial Team

Why speed matters

Fraud losses compound the longer an account stays open and the longer a bureau file goes unflagged. A criminal who has your card number, login credentials or Social Insurance Number can often open new credit within hours. The single most protective action you can take is to slow that process down immediately — by locking your existing accounts and flagging your credit file before new applications are approved in your name.

You do not need every detail sorted out before you start. Call your financial institution first, then work through the rest of the checklist below. Each step you complete makes the next one easier, because you will already have reference numbers to cite.

2 Bureaus that need a fraud alert (Equifax, TransUnion)

1-888-495-8501 Canadian Anti-Fraud Centre phone line

12-24 mo Recommended monitoring window after an incident

Interactive response checklist

Work through each item in order. The checklist tracks your progress locally in this browser session — check items off as you complete them so nothing gets missed during a stressful few days.

Fraud response checklist

  • Contact your financial institution immediately Call the phone number on the back of your card or your branch directly (not a number from a suspicious message). Ask that compromised cards be frozen or cancelled and reissued.
  • Freeze or close compromised accounts Close accounts you know are compromised and change online banking passwords immediately, using a different device if the original one may be compromised.
  • Place a fraud alert with Equifax Canada and TransUnion Canada Request a consumer statement (fraud alert) with both bureaus, not just one. This flags your file so lenders take extra verification steps before opening new credit in your name.
  • File a report with local police Report to your local police service and get a report or occurrence number in writing — most creditors and bureaus require it to process fraud claims.
  • Report to the Canadian Anti-Fraud Centre Call 1-888-495-8501 or report online. The CAFC does not investigate individual cases but its intake supports broader enforcement and is often required documentation.
  • Notify affected creditors in writing Send a written notice to each creditor showing fraudulent activity, referencing your police report number, and request the account be flagged for investigation.
  • Complete identity theft affidavits or statutory declarations Most creditors require a signed affidavit or statutory declaration of identity theft before removing fraudulent charges or closing an impersonated account.
  • Replace compromised government identification Contact Service Ontario for a driver's licence or health card, and Service Canada if your Social Insurance Number was misused, to discuss replacement and additional safeguards.
  • Keep a written incident log Record every call, letter, reference number and person you speak with, including dates and times. This log is often the difference between a fast resolution and a stalled one.
  • Monitor your credit reports for 12–24 months Re-check your Equifax and TransUnion files periodically for new accounts or inquiries you did not authorize, and renew your fraud alert before it expires.

Use a different, uncompromised device

If you suspect a device or email account was involved in the fraud, make your calls and password changes from a different, trusted device where possible. A compromised device can let an attacker intercept the very steps you are taking to lock them out.

Fraud alerts with both bureaus

Canada has two major consumer credit bureaus, Equifax Canada and TransUnion Canada, and they do not automatically share fraud alerts with each other. You must contact both separately to place a consumer statement (commonly called a fraud alert) on your file.

A fraud alert tells any lender pulling your file that they should take extra steps — typically a phone call to you directly — before approving new credit. It does not block credit from being issued, but it adds a meaningful layer of friction that stops most automated or rushed fraudulent applications. Renew the alert before it expires, and request an updated copy of your file from each bureau so you can review it for accounts you did not open.

Police report and the Anti-Fraud Centre

File a report with your local police service as soon as possible. Ask specifically for a report or occurrence number in writing — many creditors, insurers and the bureaus themselves will ask for this number before they will reverse fraudulent charges or remove an impersonated account from your file.

Separately, report the incident to the Canadian Anti-Fraud Centre at 1-888-495-8501 or through their online reporting tool. The CAFC does not investigate individual cases directly, but its intelligence supports law enforcement across the country, and a CAFC reference number is frequently requested as supporting documentation during a dispute.

Keep everything in one log

Start a written log the moment you suspect fraud: date, time, who you spoke with, what was said, and any reference number issued. This single document is often what allows a case to move quickly instead of stalling on repeated re-explanations.

Notifying creditors and closing accounts

Once your accounts are frozen and your bureau files are flagged, follow up in writing with every creditor showing fraudulent activity. Reference your police report number and request that the account be flagged for investigation rather than sent to collections in the meantime.

Most creditors will also require a signed identity theft affidavit or statutory declaration before they will remove fraudulent charges or close an impersonated account without penalty to you. Complete these promptly and keep copies of everything you submit.

If your Social Insurance Number was misused, contact Service Canada to discuss your options. If a driver's licence or health card was compromised or used to open credit, contact Service Ontario to arrange replacement identification.

If one of the accounts affected is already placed with FDR, or you are unsure whether an account you have been contacted about is legitimate, contact us directly so we can verify the file and, where appropriate, discuss payment options once the fraud investigation is resolved.

Back to Learning Center