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 Did YOU Know?!?  Tennessee is bordered by 8 states: Alabama, Arkansas, Georgia, Kentucky, Mississippi, Missouri, North Carolina and Virginia - more.

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Presentation on theme: " Did YOU Know?!?  Tennessee is bordered by 8 states: Alabama, Arkansas, Georgia, Kentucky, Mississippi, Missouri, North Carolina and Virginia - more."— Presentation transcript:

1  Did YOU Know?!?  Tennessee is bordered by 8 states: Alabama, Arkansas, Georgia, Kentucky, Mississippi, Missouri, North Carolina and Virginia - more than any other in the US  There are 31,557,600 seconds in a year  The average person laughs 10 times a day  'Babe' was played by over 50 pigs

2 Unit VI: Consumer Skills Lesson 3

3   Target E: I can explain consumer rights, responsibilities, remedies, and the importance of consumer vigilance Target E

4   As a consumer you have the right:  To be informed, to be safe, to be heard and the right to choose  To have avenues for redress of consumer grievances  State and federal agencies, consumer protection laws, private groups such as Common Cause and Better Business Bureau Consumers Rights

5   As a consumer, your responsibilities include  Verifying receipts and statements  Contesting an incorrect bill  Maintaining consumer vigilance  Safeguarding against fraud  Carefully READING any legal documents/agreements  Determining the reliability of financial information Consumer Responsibilities

6   To be vigilant means to be alert and watchful  As a consumer it is your responsibility to practice consumer vigilance  The act of closely watching your personal finances and being alert to issues Consumer Vigilance

7   To help yourself as a consumer you should  Understand and use consumer protection laws, such as those related to product recalls and protect labeling  Know what government agencies are responsible for enforcing consumer protection laws  Use private groups that work for consumer protection to your advantage  Protect your account numbers and cancel cards when your wallet is lost How to be Vigilant

8   Target F: I can explain the proper precautions for protecting my identity and other personal information Target F

9   Personal information is valuable to you as an individual  If it makes its way into the wrong hands it can put you at risk  Personal information that can be used against you includes:  Your name, address, phone number, and e-mail address  Your birthdate, Social Security Number- the number assigned to you by the government to track your income and employment history  Bank and credit card account numbers, medical and insurance records, and your mother’s maiden name Personal Information

10   Most businesses will use your information legitimately  Your bank uses it to maintain your bank accounts  The supermarket uses it to offer you coupons and special deals  An online retailer uses it to process your order Businesses

11   Some criminals use your personal information to commit fraud  They might steal your credit card information and make unauthorized purchases  They might steal your bank account information and withdraw your money  They might sell your information to someone else Criminals

12   Identity theft is the fraudulent acquisition and use of a person's private identifying information, usually for financial gain  Criminals will obtain multiple identities to make purchases, rack up debt, or gain other profits  Criminals may even sell identities Identity Theft

13   Experts believe that identity theft is one of the fastest growing crimes in the US  The FTC estimates that 9 million Americans have their identities stolen each year  Experts will steal your identity using your personal information and use it for themselves or even sell it on the open market Identity Theft is Business

14   You may discover that you are a victim by checking your credit report  You may notice that someone with your name and SSN is not paying credit card bills and is skipping loan payments  Credit agencies may come after you for debts that you did not know you had  You may have to spend time and money to prove that you are the real you and the imposter is a thief The Backlash

15   Victims spend an average of 330 hours repairing damage  Around 30 percent of victims have to spend a period of four to six months dealing with identity theft issues  Victims typically spend between $800 and $1400 on expenses related to identity theft  Nearly 50 percent of victims claim they had trouble getting credit or a loan because of the identity theft Hurting Victims

16   Identity thieves will do a wide number of things to get your personal information  It is your job to keep track of your personal documents such as:  Birth certificate, Social Security Card, marriage certificate, driver’s license, and passport  School and medical records  Bank statements, credit card numbers, and loan information  Copies of tax returns, pay stubs, and insurance records Dangerous Documents

17   Rummage through trash to find bills, account statements, and other documents  Set up mechanical devices at ATMs and other places where you swipe a credit/debit card  Phish online by pretending to be a legitimate business  Send in change of address forms so your account statement and other mail are sent to them  Steal your purse, wallet, or mail or hack email How the Thieves do it

18   Officially it is used for tracking earnings and paying benefits  Only businesses and government agencies that report transactions involving taxes can demand this information  There is no law that prohibits a company or organization from asking for your SSN  Many businesses request it to use as an all-purpose identifier  You may request the use of another identifying number Social Security Number

19   Safeguarding financial documents  Refusing to give personal information via phone or email  Shredding documents that contain personal information  Immediately reporting theft or loss of ID, checks, credit cards, and personal financial documents  Checking financial statements regularly Avoiding Identity Theft

20   Hackers have access to your data, and they’re selling it for only $5  Think that your credit card number, social security number, expiration date and mother’s maiden name would be worth thousands to someone trying to steal your identity? Think again. Such “fulls”—a single package with all the aforementioned information—sell for only $4 or $5 per victim.  According to cyber security experts at RSA, financial information isn’t the only thing hackers are mining from your web activity.RSA  Stealing social media accounts is becoming more and more profitable. 10,000 followers on Twitter sell for $15, and 100,000 likes sell for about $115. 1000 likes on Facebook sell for $15. By comparison, 1000 credit card numbers cost just $6. According to GigaOm.com


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