When you open an account with Mogo, we ask for your Social Insurance Number (SIN) for a few important reasons:
1. Identity Verification and Legal Requirements
Your SIN is a unique number issued to Canadian citizens, permanent residents, and temporary residents. We use it to:
Confirm your identity.
Verify that you are legally eligible to open an account in Canada.
Comply with tax reporting requirements by the Canada Revenue Agency (CRA). We are required by law to report any income you earn through Mogo.
2. Compliance with Financial Regulations
Mogo must follow strict Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations. Providing your SIN helps us meet these requirements by accurately verifying your identity.
Because of these legal and regulatory obligations, a valid SIN is mandatory to open and maintain an account with Mogo.
3. Protecting Your Information
The security of your personal information is our highest priority. Here's how we safeguard your data:
We never sell your information to third parties.
We may share your information with trusted partners or suppliers—but only when necessary (for example, to verify your identity or to transfer funds).
All partners handling your information must adhere to the strict terms outlined in our Privacy Policy.
Need to Update Your SIN?
If you need to update your SIN, please contact us through the Help & Support section in your Mogo app. One of our specialists will get in touch with you by phone to assist you.