Cost of Living Why your SIN is gold for cyberthieves
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Jun 21, 2025 Blair Sanderson, a contributor to a notable podcast, dives into the world of social insurance numbers (SINs) and their alarming allure for cyberthieves. He explains how these unique identifiers can lead to identity theft and financial ruin when mishandled. The conversation raises crucial questions about why we continually share such sensitive information. Blair also touches on emerging solutions like digital IDs while advocating for the necessity of safeguarding personal data. This insightful discussion highlights the impact of digital vulnerabilities on our everyday lives.
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SINs Are Master Keys
- Social Insurance Numbers (SINs) are unique like snowflakes and act as a master key to our identity.
- Their use has expanded beyond government, making them valuable but risky if mishandled or stolen.
Misuse of SIN Collection
- Many organizations request SINs for convenience rather than necessity, leading to unnecessary risks.
- The actual legitimate uses of SINs are limited to employers, banks, loans, and specific government departments.
Desjardins Breach Victim Story
- Dave's SIN was stolen in the Desjardins data breach, leading to multiple fraud attempts over years.
- Identity theft caused him ongoing struggles even years after the initial breach, highlighting long-term impact.