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Lyle Hansen M.S., AFC & Jerome County Extension Office Luke Erickson M.S., AFC Madison County Extension Office Adapted from Guard Against Identity Theft.

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Presentation on theme: "Lyle Hansen M.S., AFC & Jerome County Extension Office Luke Erickson M.S., AFC Madison County Extension Office Adapted from Guard Against Identity Theft."— Presentation transcript:

1 Lyle Hansen M.S., AFC & Jerome County Extension Office Luke Erickson M.S., AFC Madison County Extension Office Adapted from Guard Against Identity Theft By Marsha Lockard Owyhee County Extension Office

2 Identity Theft Happens... When someone STEALS your: –Name –Social Security Number –Drivers License Number –Credit Card Number –E-mail Address –Other personal information Then uses it to commit fraud or theft.

3 Identity Theft Happens…

4 An Alarming Crime Identity Theft/Fraud is top consumer complaint in the U.S. –Over 1.3 million complaints in 2010 6.1 million complaints since 1997 –Over $1.7 billion in total losses in 2010. Median amount paid $594

5 An Alarming Crime

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10 Herman Munster?

11 Idaho Statistics - 2010 5,403 Total Complaints 729 ID Theft Victims Location: –Boise area – 1907 Fraud and 331 ID Theft Victims –Idaho Falls – 372 Fraud and 57 ID Theft Victims –Coeur d Alene – 534 Fraud and 84 ID Theft Victims

12 How Do Thieves Do It? (What do you think?) Complete false change of address forms. Steal your purse or wallet. Obtain personal information at work. Find personal information in your home.

13 How Do Thieves Do It? (Are there any you are not familiar with?) Dumpster diving Steal your mail Pretexting Phishing Fraudulently obtain credit reports Friends and relatives

14 Misspelling, and incorrect grammar. Generic greeting, did not use my user name or actual name Created a sense of urgency Direct link asking for my password (to imposter site)

15 How Do Thieves Do It? Recent schemes –Hotel Scams

16 The Identity Thief May... Go on spending sprees using your credit & debit cards to buy big ticket items. Open new credit card accounts. Change mailing address on your credit card accounts. Take out loans to purchase a car or even a home in your name.

17 The Identity Thief May (2)... Give your name to police during an arrest. If they are released and dont show up for court date, an arrest warrant could be issued in your name.

18 Minimize Your Risk Protect your Social Security Number: –Do not use on checks, insurance or other cards, drivers license. –Memorize your number and do not carry your card with you. –Ask why when your SS# is requested: How will it be used? How will it be protected? Is it necessary?

19 Minimize Your Risk (2) Carry only the credit cards you need. Keep a copy of all your important account and phone numbers. –Write them down. –Take a picture. –Photocopy. –Keep copy in a safe secure place.

20 Minimize Your Risk (3) Obtain free credit report yearly. –www.annualcreditreport.comwww.annualcreditreport.com –One free credit report is available from each of the credit reporting agencies: Equifax, Experian, and TransUnion. –1-877-322-8228 –Mail Annual Credit Report Request form to: Annual Credit Report Request Service P. O. Box 105283 Atlanta, GA 30348-5283

21 Minimize Your Risk (4) What is the web address to order a free credit report? Freecreditreport.com is not free!

22 Minimize Your Risk (5) Obtain free credit report yearly. –www.annualcreditreport.comwww.annualcreditreport.com What is the difference between: www.annualcreditreport.com www.annualcreditreport.com www.annnualcreditreport.com –The extra n directs me to freecreditreport.com Misspellling can cost you money!

23 Minimize Your Risk (6) Remove your name from pre-approved credit card mailing lists. You can do this by going to www.optoutprescreen.com or calling 1-888-5-OPTOUT.www.optoutprescreen.com

24 Minimize Your Risk (7) Stop telemarketers from calling your home and cell phone numbers. You can do this by going to WWW.DONOTCALL.GOV or calling 1-888-382-1222.WWW.DONOTCALL.GOV Your phone numbers will be removed for LIFE (No Longer Only 5 Years)!

25 Minimize Your Risk (8) Reduce unwanted mail! Register with the Direct Marketing Associations Mail Preference Service –Free if you go to www.dmachoice.orgwww.dmachoice.org –$1 processing fee if you request by mail: DMA choice Direct Marketing Association P.O. Box 643 Carmel, NY 10512

26 Minimize Your Risk (9) FREEZE Your Credit! –Costs $6 Per Credit Bureau in Idaho –Costs $6 to Thaw Unfreeze Credit One of the most successful tools to prevent financial Identity Theft! See handout Stop Identity Theft Cold byFreezing Your Credit!

27 Minimize Your Risk (10) Do not provide personal information over the phone, through the mail, or over the Internet unless: –You placed the call or the letter or email And –You know the company is reputable and the request is legitimate.

28 Signs of Identity Theft

29 See unauthorized changes in financial accounts. Fail to receive bills or other mail. Receive credit cards you didnt request.

30 Signs of Identity Theft (2) Receive credit denial. Get calls from debt collectors. Recognize unusual credit report activity. Other Signs?

31 If You Are a Victim... 1. File a police report immediately and get a copy! - Believe it or not, but the police usually will not be able to do anything. - So why file a report?

32 If You Are a Victim (2)... 2. Contact your creditor. –Stop payment on checks. –Request new ATM and credit cards. –Change passwords or PIN numbers. –Call your other creditors and notify them of the situation.

33 If You Are a Victim (3)... 3. Contact the 3 credit reporting agencies: –Add a victims statement to your file. –Request a free copy of credit report, to check for additional affected accounts. –Place a fraud alert in your files with caution.

34 If You Are a Victim (4)... 4. Contact the Federal Trade Commission (FTC). 1-877-IDTHEFT is FTCs hotline for ID Theft victims to file complaints & get information to repair credit. www.consumer.gov/idtheft

35 Sign-up to receive these financial tips by email! erickson@uidaho.edu idahostwocenttips.com

36 Sign up for Free Scam Alerts www.consumerprotection.mt.gov

37 Evaluation

38 Questions Luke Erickson M.S., AFC University of Idaho Extension Educator, Personal Finance Madison County Extension Office (208) 359-6215: erickson@uidaho.edu


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