How to protect your CRA account from scams

Among all the organizations we deal with at least once a year, the Canadian Revenue Agency (CRA) seems to be a difficult goal for cybercrime. The federal department goes out of its way to make its portal and taxpayer information secure by multi-factor authentication. But the taxpayer itself may unconsciously provide the criminal with the key to the CRA account.

Carl Davies, head of fraud and identity at Equifax Canada, warned: “Even if there is the best system, consumers will be harmed if they are not cautious about the identification data they have.” Fraud artists not only try to get your tax refund; they see CRA as a repository of personal data that can be sold or used to steal your identity, for example, to obtain credit in your name or apply for government benefits. “The criminals are trying to enter your CRA account to collect personal information to use that information to commit fraud at the CRA or other agencies,” Davis said.

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How a scammer gets your personal information

Think someone is having a hard time hacking your data? Davis recalls a family member who once passed a seemingly harmless chain message on Facebook. Holiday-themed messages require users to combine pet names with their mother’s maiden name to come up with their “elves’ names.” It has hundreds of replies.

“It’s a scam,” Davis said. This information is the most common information used by criminals and a way for financial institutions to get people back access to their accounts.

However, you don’t have to fall into a scam like this to make yourself vulnerable to identity theft.

“If I’m on social media and I’ll have the full name, my date of birth, my house photos, where I live, that’s really a problem,” Davis said. “Now, a fraudster has everything they need to show the CRA that’s yes, it’s actually me.” They can answer security questions, reset passwords, etc. Once the scammers enter your CRA account, they can get more personal information, including financial information. For example, they can infer your income, which gives them an idea of how much they can borrow in your name without asking red flags.

How to protect your CRA account from identity theft

Reducing the risk of fraud with your CRA account starts with the personal information you share online. Here are some other steps Davis suggests:

• Use complex passwords for your CRA My Account. “It’s hard to guess,” he said. Better yet, use a password manager to propose and track passwords for different accounts.
• Check your credit report regularly. Check it out every month. It will reveal any attempt to apply for credit using your identity valid or not.
• Never use public Wi-Fi to log in to your CRA account. Criminals using the same unsecured network can crack your device and steal your information. Also do not use public Internet services to log in to applications and accounts. Your home network will usually be secure.
• Beware of phishing scams. Do not respond to unexpected calls, text messages or emails allegedly from the CRA. Change your phone settings so that it passes only by calls from the contact list. (Everyone else can leave a message.) Please confirm the correct phone number online before you call. If the agency is really trying to contact you, there is no problem with the tax agent contacting the CRA directly.

What to do if your CRA account is hacked

Here’s what to do if you suspect your CRA account has been violated:

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• Notify the CRA immediately by phone or online.
• Contact all financial institutions that you have an account, and anywhere third parties attempt to set up an account in your name (this will be in your credit report).
• Change passwords on CRA, bank and other financial accounts.

Davies spoke with many fraud victims, including Canadians who received calls, emails and text messages allegedly from the CRA. Many victims admit to feeling something is wrong and even before fraud occurs, they then make a request from a liar.

“Trust your intuition,” Davis advises. “If something doesn’t feel right, stop your work. If you don’t trust it, hang up and call directly or email it.”

Prevent digital fraud through credit monitoring

A great tool to stop fraud and other forms of cybercrime is Equifax^TM Protect. This subscription service helps keep your personal data and devices online safe and helps you monitor your credit and identity.

If your identity is stolen, then Equifax identity recovery experts will help you recover it – in addition, you can get up to $1 million in identity theft insurance to pay out of pocket (not available within Quebec).

The functions of Equifax’s complete protection include:

• Daily credit monitoring and alerts will notify you of key changes to your Equifax credit report, such as new credit card or loan application.
• Dark web surveillance, surveillance of hidden websites, criminals like to hang out and trade data to see if your personal information appears there.
• Industry leader Zerofox provides social media monitoring to alert you to suspicious activity on your social media accounts.
• NordVPN’s online data encryption and NordPass’ online password generation and storage
• Parents’ controls from Bitdefender to limiting which sites and apps your child can access
• Devices prevent BitDefender to help stop trying and protect devices from viruses and malware.

Equifax full protection costs $34.95 per month. To learn more, visit the Equifax website.

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About Michael McCullough

Michael is a financial writer and editor at Duncan, British Columbia. He was formerly a former director editor of Canadian Business and editorial director of Canadian broad media. He also writes for the earth and mail and bcbusiness.