Personal Finance

Security Freeze for CR: Time for provinces to implement w/ community mail boxes?

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  • Dec 17th, 2013 4:02 pm
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[OP]
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Aug 15, 2009
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Security Freeze for CR: Time for provinces to implement w/ community mail boxes?

Since Canada Post is forcing community mail boxes in the urban areas, why hasn't Canada's provinces adopted security freezes for consumer credit report pulls - https://en.wikipedia.org/wiki/Credit_freeze .

It's quite simple, you pay the bureaus $10 (or less) in the States and provide enough documentation / info that you are who you are and then the bureaus lock your credit report from being pulled. When you need to establish credit, you pay another $10 to unlock your credit temporarily or permanently and provide the specific bureau a PIN number they issued you when you initially froze your credit. Equifax and TransUnion are already doing it in the States, so there's no reason they can't offer it in Canada as a tool against identity theft other than the fact they hawk their own monitoring subscription.

Canadian community mail box horror stories:
http://www.cbc.ca/news/canada/british-c ... -1.1361263
http://www.langleytimes.com/news/229133951.html
http://www.tricitynews.com/news/235629411.html
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Deal Expert
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Oct 19, 2003
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And why should somebody need to pay to have their personal information locked or unlocked at all? The whole system is a scam.
[OP]
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It is BS to have to pay to lock your credit, but it's what the corporate bureaus finally agreed to in the States. I'd rather pay $10 now to know that my credit was secure from identity theft. Much cheaper (emotionally and financially) than dealing with the aftermath of identity theft. Before a credit report is pulled, you find out which bureau the credit grantor pulls from. You give that bureau $10 and unlock your credit for a few days to a week (length your choice). Unless you are into credit card churning and are needing your credit pulled several times a year, a security freeze is beyond worth it.

It just seems this dialogue needs to take place since community mail boxes are being shoved down consumer throats.
Sr. Member
Feb 28, 2013
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Or you know, simply make it free to access online. There is no need for canada post to be involved.
[OP]
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Beans1234 wrote:
Dec 14th, 2013 1:50 pm
Or you know, simply make it free to access online. There is no need for canada post to be involved.
The point being is city dwellers have to worry more about identity theft with the five year Canada Post conversion to community mail boxes. I believe the current debate about community mail boxes should spur people into wanting security freeze regulation in Canada.

If you guys are into money / finance, do you think the lobbying efforts of the corporate bureaus are going to allow government to make them do anything for free? Hell, I want it for free too, but that isn't realistic with what has transpired in the USA.
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Feb 28, 2013
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bbbc wrote:
Dec 14th, 2013 2:35 pm
The point being is city dwellers have to worry more about identity theft with the five year Canada Post conversion to community mail boxes. I believe the current debate about community mail boxes should spur people into wanting security freeze regulation in Canada.
Not really something to worry about because internets. Really, Canada Post isn't needed now and in 5 years time they really won't be needed because all those little old grannies hanging on dearly to their cheque books will have died too. That was my point that you missed.
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Jul 18, 2009
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Loosing the personal data of 583,000 student loan borrowers should have prompted the creation of a credit freeze product, but it didn't. If an actual, massive data loss in a government office didn't do it, why would community mailboxes?
Sr. Member
Feb 5, 2013
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All that I need is to be able to register my email or phone# with CB and have them email/text me when a change/new application is requested. This should be free and would be easy consumer friendly legislation to pass. The cost can be borne by the credit providers who already pay for the CB system. Heck my city texts/emails me the day before garbage day now; it shouldn't be that hard...
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Feb 15, 2008
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This makes no sense. The community mailboxes are locked, with individual boxes under lock and key. Individual at-home mail boxes can have stuff removed from them easily. So if anything, this enhances security, not diminishes it. Of course, crooked posties are always a vulnerability, but the centralized mailboxes make no difference.

As far as credit freezes, etc., credit records aren't exactly private information.
TodayHello wrote:
Oct 16th, 2012 9:06 pm
...The Banks are smarter than you - they have floors full of people whose job it is to read Mark77 posts...
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Aug 5, 2012
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https://en.wikipedia.org/wiki/Credit_freeze
A credit freeze allows an individual to control how a U.S. consumer reporting agency (also known as credit bureau: Equifax, Experian, TransUnion) is able to sell his or her data. The credit freeze locks the data at the consumer reporting agency until an individual gives permission for the release of the data.
Lenders typically require access to the borrower's credit report before issuing a loan in the borrower's name. If lenders cannot see the borrower's credit report, it is unlikely the lender will issue a loan in the borrower's name. Hence, credit freezing should reduce the risk that loans or credit cards will be issued fraudulently.
Locking down the credit file for a token sum will reduce the risk of identity theft. Most people don't request for credit on a monthly basis, the credit file can be locked down and released temporarily when a credit request is needed.

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