Alberta homebuyers are the most concerned today in the country about safeguarding their personal information, according to a survey by Equifax Canada.
The survey found that 86.4 per cent of Albertans said they are more worried today about protecting their personal information than they were a year ago. The national average was 79.4 per cent.
“Consumers and lenders are certainly becoming more wary of the potential threats related to fraud and identity theft,” said Tim Ashby, vice-president of personal solutions for Equifax Canada, in a news release. “In the homebuying process, a lot of personal data is on the table when dealing with mortgage brokers, real estate agents, and lawyers among others.”
The survey found that 81 per cent of consumers overall believe that lenders should be doing more to protect them from fraud and identity theft.
It also found that one in 10 Canadians agreed it is okay to inflate their annual income when applying for a mortgage and nine per cent agreed that they had not been entirely truthful on a credit or loan application.
“Make no mistake, lying on your loan application is a type of mortgage fraud,” said Ashby. “Whether you’re a lender or a consumer, data protection and the integrity of the data should be priorities at all times. For the consumer, it’s not just a matter of protecting your information, it’s critical to know what’s on your credit file – especially when looking to buy a new home.”
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