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Objective 7.03 Understand ways to avoid identity theft. Identity Theft.

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Presentation on theme: "Objective 7.03 Understand ways to avoid identity theft. Identity Theft."— Presentation transcript:

1 Objective 7.03 Understand ways to avoid identity theft. Identity Theft

2  What is identity theft?  How does one protect himself or herself from being a victim of identity theft?  What should I do if I am victimized?

3  A type of fraud  Illegal use of a consumer’s personal identification, credit, or account information  Information that thieves steal:  Date of birth  Bank and investment account numbers  Social Security number  Internet passwords  Credit card information, credit cards video link- phishing scams

4 video link: how stuff works-id theft

5  Results of identity theft for victims:  Financial losses of actual transactions  Loss of time and money trying to correct problem  Substantial stress dealing with long term actions to correct

6  Technological Advances Increase Opportunities for Exposure to Identity Theft  Electronic funds transfers (EFT) enable financial transactions by computer  Direct deposits and withdrawals online  Pay-by-phone transfers  Point-of-sale transfers (debit card)  Online banking: Account numbers, date of birth, passwords in cyberspace

7  Provides protection for :  ATM, debit cards, cash cards  If loss is reported:  Within 2 days=$50 maximum  Within 60 days, $500 maximum, and  After 60 days, may be liable for all charges  Who is your best advocate?  YOU ARE!  It is important to pay attention to your financial transactions! Electronic Funds Transfer Definition: carrying out financial transactions by computer rather than using checks or cash Examples: direct deposit payroll check Automatic draft of monthly utility bill

8 video link- problems & solutions video link- credit card swipes

9  Many businesses have legitimate reasons for obtaining personal information  Payroll, human resources, personnel department  Social security, bank account #s  Some websites use online profiling  Security of websites  Cautions about use of the Social Security number  Partial # only printed on receipts, etc.  Do not carry in your wallet  Other businesses use personal information, such as your name, address, credit card number, and information about purchasing preferences and patterns for other purposes  Marketing other products  Food Lion MVP card -send coupons, special ads

10  What personal information are you carrying in your wallet now?  Driver’s license  Social security card  Credit cards  Debit cards  Health Insurance card  Check book  Student ID card Making purchases with a check, credit or debit card Applying for a credit card or loan Online or telephone shopping Paying bills through the mail or online Going to the doctor

11  Obtaining personal information submitted on the Internet  Posing as representatives of banks, Internet service providers, or government agencies to get one to provide personal information on the telephone or by  Looking over the shoulder when one is writing checks or using teller machines  Using phones with cameras, videos to photo & re-enter PIN codes  Using “ATM skimmers” to capture credit card number from the magnetic strip  Using card readers to swipe a card and capture the card number video link - ATM skimming device

12  Pass this info on:  This has been verified by the FBI (their link is also included below). Please pass this on to everyone in your address book. It is spreading fast so be prepared should you get this call. Most of us take those summonses for jury duty seriously, but enough people skip out on their civic duty that a new and ominous kind of fraud has surfaced. The caller claims to be a jury DUTY coordinator. If you protest that you never received a summons for jury duty, the Scammer asks you for your Social Security number and date of birth so he or she can verify the information and cancel the arrest warrant. Give out any of this information and bingo; your identity was just stolen. The fraud has been reported so far in 11 states, including Oklahoma, Illinois, and Colorado, AZ and more. This (swindle) is particularly insidious because they use intimidation over the phone to try to bully people into giving information by pretending they are with the court system. The FBI and the federal court system have issued nationwide alerts on their web sites, warning consumers about the fraud.  Check it out here:  And here: Yep! It's true

13  Good Afternoon –   It’s a good time to remind everyone about SCAM or PHISHING . Phishing refers to the process of tricking recipients into sharing sensitive information with an unknown third party. Those who PHISH make an appear legitimate.  Security Reminders-   1) CCS does not send out asking for private information (i.e., social security numbers, credit card numbers, etc…). Sometimes we have “vendor” looking logo asking for the end user to provide information. If you receive, delete the .  2) CCS does not send out regarding changing of a password. Delete the .  3) Never share your password.  4) When in doubt about whether or not to respond to an , DON’T until you have verified legitimacy. Ask a technology facilitator or call the IT Help Desk ( , ext. 2).   Dr. Katherine Propst  Assistant Superintendent  Cabarrus County Schools

14  Stealing wallets or purses containing identification information, credit cards, or checkbooks  Stealing mail, which may include bank, credit card, payroll, and tax information  Completing a change of address card to have mail sent to another address  Going through trash from homes/businesses to find identification, bank, or credit information  Obtaining personal information from one’s home mail or body…theft

15  Make charges to your accounts and credit cards  Open new credit accounts to make purchases

16  To sign up for services such as telephone, cellular telephone, or wireless service, and utilities  Open a bank account and write “bad” checks  The predator is stripping whatever money is in your account!  Write checks on one’s bank account  Get a job using your information  Rent an apartment  Obtain cash with bank cards  Obtain your tax refund from IRS video link- identity theft in Florida

17 Shred documents with personal information before discarding!


19  Report missing credit cards and identifying information to three credit-reporting agencies  Report missing credit cards to credit card company  Verify your credit card charges upon receipt of your card

20  Contact your bank if you are missing ATM cards or checks  Reconcile your bank statement to verify all withdrawals are for your authorized transactions

21  Report missing Social Security numbers or card to the Social Security Administration  Seek other help from the Federal Trade Commission and the Identity Theft Resource Center  Don’t carry your SS card in wallet!

22  Issue a “stop payment” if checks or credit cards are lost or stolen  When establishing accounts at financial institutions, make sure they are insured by agencies that protect deposits in case the institution fails  Federal Deposit Insurance Corporation (FDIC)  Savings Association Insurance Funds (SAIF)  National Credit Union Administration (NCUA)

23  Definition: Method by which individuals can avoid receiving unsolicited product or service info; usually associated with telemarketing, marketing, online marketing or direct mail  Make an informed choice about sharing personal information---“opt out”  Before clicking “I agree” - Read your online site agreement, you often give up your right to “opt out” and your information is broadly circulated to marketers  I want to “OPT OUT”…  To remove your phone # from telemarketing lists use National Registry or state registries   To remove your personal information from financial institutions/insurance company lists  Individual company privacy statements have phone #s to contact

24 Use anti-virus and anti-spyware software and update them regularly Do not click on links found in pop-up ads Only download software from trusted websites Set web browser security to medium-high or high Keep operating system and web browser software updated Clear hard drives before discarding, selling, or trading in computer equipment

25 When shopping online, Look for “https” or a picture of a lock after the URL or in the bottom right hand corner indicating the site is secure Enter the website address yourself rather than following a link from an or internet advertisement Use a credit card instead of a debit card when making online purchases “https” s = secure

26 Do not give out personal information from unsolicited contacts Unsolicited = callers who contact you Do not give out any personal information unless making a purchase (when you contacted company) Choose security questions with answers only you would know

27 Watch for clues that might indicate a computer is infected with spyware. Examples: a stream of pop-up ads random error messages sluggish performance when opening programs or saving files  If it is suspected that a computer is infected with spyware, immediately:  stop shopping, banking or doing any other online activity that involves user names, passwords, or other sensitive information  confirm that the security software is active and current  run software to scan the computer for viruses and spyware, deleting anything the program identifies as a problem

28  , Debit Cards, Banking documents, other  Keep your username and password protected  Change passwords  Create a Password  Combination of words, numbers, and symbols  UNIQUE  Upper and Lower Case  Cannot be easily found  Do not use obvious names, birthdays, addresses, SS# etc. Should the password be “I don’t know”?

29  When entering your Password in public places:  “Securely” type in PIN # at ATM Point of Sale (POS) register Public Online outlets  How does predator get victim’s information?  Phones with video cameras can replicate your keystrokes  “Nosy” customers in line  Dumpster Diving  Predator often works with partner who “lifts” debit card for use with password later


31  YOU are your own best ADVOCATE!  Verify your credit card statement charges  Reconcile your bank account  KNOW WHAT YOU SPEND!  Request credit reports from credit bureaus

32  Respond immediately  Keep a record of related phone calls, letters, and s  Request a “fraud alert” with three major credit bureaus  Equifax  TransUnion  Experian  Renew “fraud alert” every 90 days with credit bureaus

33  Obtain a credit report from each major credit bureau and check for accuracy  Close all accounts that have been involved in the theft  Open new accounts with NEW unique passwords and new PIN numbers  File a police report

34  Federal Trade Commission (FTC)  oversees compliance with these acts  Financial Services Modernization Act (1999)  requires companies involved in financial activities to send privacy notices to customers  Children’s Online Privacy Protection Act (1998)  Requires websites directed to children under thirteen to post their privacy policy, parental consent and ability to monitor is required Link to Children's online privacy law

35  New industry booming to assist consumers with themselves from this fastest growing crime

36  Why do you think identity theft grew significantly during the recession?  Desperation  No income to pay bills  Time Available video link: Stolen_Futures - 10 minute- if time allows

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