While there is considerable descriptive information on identity theft and identity fraud originating from a few countries, there is a dearth of information about people's knowledge and awareness of identity theft and their potential risk of becoming a victim. This study measured the self-reported perception and awareness about the nature, risk and effects of identity theft and a variety of fraudulent behaviors among 104 Mexican and 360 Canadian post-secondary students. The findings indicate that overall the students were not well informed about identity theft and were not overly vigilant in protecting their personal identity information. However, there were some differences between the two groups. Based on the findings, general policy implications and educational strategies are offered to better combat identity theft within the respective countries studied. A number of suggestions for future research are also proposed.