July 24th, 2024

How credit monitoring can protect consumers in the wake of a data breach


By The Canadian Press on July 10, 2024.

Credit monitoring isn't just for your credit score - it can also alert you to potential identify theft and fraud if your data has been compromised. Credit cards shown on in Halifax on Thursday, Oct. 6, 2022. THE CANADIAN PRESS/Andrew Vaughan

Credit monitoring isn’t just for your credit score – it can also alert you to potentially identify theft and fraud if your data has been compromised.

This week, Ticketmaster offered Canadian customers affected by a recent security breach a year of free credit-monitoring services.

The ticket sales platform emailed some customers this week to warn them that their data may have been compromised during a recent security breach, potentially including names, contact information and payment card information.

According to TransUnion, credit monitoring helps consumers act quickly if there’s suspicious activity on their accounts.

In a report earlier this year, TransUnion said more and more Canadian consumers are signing up for credit monitoring.

The firm says the benefits of credit monitoring have become increasingly important amid a continued rise in fraud activity since the onset of the COVID-19 pandemic.

This report by The Canadian Press was first published July 10, 2024.

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