Presentation on theme: "Identity Theft What You Need to Know. Learning Goals Define Identity Theft Learn how your identity is stolen Learn how you become a victim Learn what."— Presentation transcript:
Whats The Difference? ATM/Debit Card VISA Check Card VISA Credit Card
Identity Theft Defined- Identity theft or identity fraud (true name fraud) is the taking of the victims identity, without their permission, to obtain credit, credit cards from banks and retailers, steal money from the victims existing accounts, apply for loans, establish accounts with utility companies, rent an apartment, file bankruptcy or obtain a job using the victims name.
Per Florida State Statute 817.568 Any person who willfully and without authorization fraudulently uses, or possesses with intent to fraudulently use, personal identification information concerning an individual without first obtaining that individual's consent, commits the offense of fraudulent use of personal identification information, which is a felony of the third degree, punishable as provided in s. 775.082, 775.082 s. 775.083, or s. 775.084. If fraud totals over $75,000, its a felony of the second degree. 775.083 775.084.
What is Phishing Phishing is a term to describe the use of legitimate looking e-mails that request the recipient to enter personal information such as credit card numbers, passwords, banking info, etc.
About Phishing Emails from legitimate companies are copied to trick consumers into giving confidential information: passwords, credit card numbers and expiration dates, bank account numbers, etc. Even experts cannot tell by looking at the messages or the web site to which you are directed that this message is a forgery Understand that no legitimate company ever asks you to validate personal information via an email Never respond even when you do business with that company. Call them yourself!
Startling Facts Identity Theft fasting growing crime in the U.S Cost victims of identity theft $52.6 billion dollars in 2004 Of 635, 173 complaints received by the FTC in 2004 246, 500 were ID theft and 388, 603 were fraud complaints 9.9 million number of victims last year alone Most victims dont know theyre victims until its too late Crime with very low risk and a high reward Not cost effective for large firms to prosecute Most victims have to prove their own innocence
Startling Facts It takes appx. 12.7 months between the date your identity theft occurred and the time you notice it (appx 30 hours to resolve problems) Average sentence less than five years $3,500 is the average bank robbery take 13 years is the average sentence
How Is Your Identity Stolen? Lost Wallet Stolen Credit Cards Stolen Checks Waiters/Waitresses Doctors Office Dentists Office Accountant's Office Work Place Heath Insurance Carrier Check Processing Center Standing In Lines Your Trash Bank Your Mailbox Internet Use Friends and Family You Personally
How Victims Discover Identity Theft 26 % Receive alerts from a credit card company or bank 9 % Are victims of a theft such as a purse snatching 8 % Are rejected when they apply for credit 52% Notice problems with their accounts
What To Do If You Become a Victim Call and cancel affected credit cards Call local law enforcement agency Call all four major Credit Reporting Bureaus Close affected checking account Notify local Social Security office Request a copy of your credit report Remain diligent until your name is cleared
I. D. Theft Prevention Order a copy of your credit report annually Place passwords on your credit card, bank and phone accounts Guard your personal information Watch for suspicious people at ATMs and in check out lines Purchase, and use, a cross-cut shredder Send checks via post office, not from home
I. D. Theft Prevention Purchase firewall software Update virus protection regularly Do not carry credit cards that you never use Consider closing unused credit accounts Ask your doctor, dentist, accountant, lawyer, etc. what they do with your personal information Ask cashiers to check your ID, thank those that do
I. D. Theft Prevention Pay close attention to credit card and banking statements Be aware of fraudulent scams such as Phishing Keep your purse under lock and key while at work Do business, via phone or Internet, with companies that you initiate And finally…..
A Special Word About Your Social Security Number Your employer and financial institution will likely need your SSN for wage and tax reporting purposes. Other businesses may ask you for your SSN to do a credit check, like when you apply for a loan, rent an apartment, or sign up for utilities. Sometimes, however, they simply want your SSN for general record keeping. You dont have to give a business your SSN just because they ask for it. If someone asks for your SSN, ask the following questions:
A Special Word About Your Social Security Number Why do you need my SSN? How will my SSN be used? What law requires me to give you my SSN? What will happen if I dont give you my SSN? Sometimes a business may not provide you with the service or benefit youre seeking if you dont provide your SSN. Getting answers to these questions will help you decide whether you want to share your SSN with the business. Remember, the decision is yours.
Credit Bureaus Equifax www.equifax.comwww.equifax.com 1-800-525-6285 Experian- www.experian.com 1-888-397-3742 TransUnion- www.transunion.com 1-800-680-7289 Innovis Inc. Consumer OPTOUT PO Box 219297 Houston, TX 77218-9297 You can contact all four companies and stop them from selling your credit info by calling one toll free number: 1 888-567-8688, 24 hrs a day
Identity Theft Resources www.identitytheft.org www.consumer.gov/idtheft/index.html Federal Trade Commission-www.ftc.gov Social Security Admin.-www.ssa.gov IRS- www.irs.gov Secret Service- www.treas.gov/usss Postal Service- www.usps.com National Fraud Clearinghouse-www.fraud.org
Summary ID Theft is the fastest growing crime in U.S. Your identity can be stolen in a number of ways You can also be a victim in a number of ways Many times you are a victim long before you know it Prevention is the key SHRED EVERYTHING!!!!
Booklet When Bad Things Happen To Your Good Name For a free copy of this Booklet go to the Federal Trade Commission website and download a copy. www.consumer.gov/idtheft