Presentation on theme: "Objective 7.0 Understand ways to protect personal and family resources"— Presentation transcript:
1Objective 7.0 Understand ways to protect personal and family resources Objective 7.03 Understand ways to avoid identity theft.Identity Theft
2Essential Questions 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?
3What Is Identity Theft? A type of fraud Illegal use of a consumer’s personal identification, credit, or account informationInformation that thieves steal:Date of birthBank and investment account numbersSocial Security numberInternet passwordsCredit card information, credit cardsvideo link- phishing scams
5Results of Identity Theft Results of identity theft for victims:Financial losses of actual transactionsLoss of time and money trying to correct problemSubstantial stress dealing with long term actions to correct
6Technology – causing problems Technological Advances Increase Opportunities for Exposure to Identity TheftElectronic funds transfers (EFT) enable financial transactions by computerDirect deposits and withdrawals onlinePay-by-phone transfersPoint-of-sale transfers (debit card)Online banking: Account numbers, date of birth, passwords in cyberspace
7Electronic Funds Transfer Act Provides protection for :ATM, debit cards, cash cardsIf loss is reported:Within 2 days=$50 maximumWithin 60 days, $500 maximum, andAfter 60 days, may be liable for all chargesElectronic Funds TransferDefinition:carrying out financial transactionsby computer rather than using checks or cashExamples:direct deposit payroll checkAutomatic draft of monthly utility billWho is your best advocate?YOU ARE!It is important to pay attention to your financial transactions!
8Types of Identity Theft video link- problems & solutionsvideo link- credit card swipes
9Data Collection and Privacy Issues Many businesses have legitimate reasons for obtaining personal informationPayroll, human resources, personnel departmentSocial security, bank account #sSome websites use online profilingSecurity of websitesCautions about use of the Social Security numberPartial # only printed on receipts, etc.Do not carry in your walletOther businesses use personal information, such as your name, address, credit card number, and information about purchasing preferences and patterns for other purposesMarketing other productsFood Lion MVP card -send coupons, special ads
10What daily activities require providing personal information What personal information are you carrying in your wallet now?Driver’s licenseSocial security cardCredit cardsDebit cardsHealth Insurance cardCheck bookStudent ID cardMaking purchases with a check, credit or debit cardApplying for a credit card or loanOnline or telephone shoppingPaying bills through the mail or onlineGoing to the doctor
11Ways Identity Thieves Obtain Personal Information to Commit Crime and Fraud Obtaining personal information submitted on the InternetPosing as representatives of banks, Internet service providers, or government agencies to get one to provide personal information on the telephone or byLooking over the shoulder when one is writing checks or using teller machinesUsing phones with cameras, videos to photo & re-enter PIN codesUsing “ATM skimmers” to capture credit card number from the magnetic stripUsing card readers to swipe a card and capture the card numbervideo link - ATM skimming device
12Subject: Jury Duty SS# Scam 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
13Cabarrus County Schools Email Safety Reminder 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 PropstAssistant SuperintendentCabarrus County Schools
14Ways Identity Thieves Obtain Personal Information to Commit Crime and Fraud Stealing wallets or purses containing identification information, credit cards, or checkbooksStealing mail, which may include bank, credit card, payroll, and tax informationCompleting a change of address card to have mail sent to another addressGoing through trash from homes/businesses to find identification, bank, or credit informationObtaining personal information from one’s home mail or body…theft
15Ways Identity Thieves Illegally Use Personal Information Make charges to your accounts and credit cardsOpen new credit accounts to make purchases
16Ways Identity Thieves Illegally Use Personal Information To sign up for services such as telephone, cellular telephone, or wireless service, and utilitiesOpen a bank account and write “bad” checksThe predator is stripping whatever money is in your account!Write checks on one’s bank accountGet a job using your informationRent an apartmentObtain cash with bank cardsObtain your tax refund from IRSvideo link- identity theft in Florida
17Steps to Minimize Potential for Identity Theft Shred documents with personal information before discarding!
19Steps to Minimize Potential for Identity Theft Report missing credit cards and identifying information to three credit-reporting agenciesReport missing credit cards to credit card companyVerify your credit card charges upon receipt of your card
20Steps to Minimize Potential for Identity Theft Contact your bank if you are missing ATM cards or checksReconcile your bank statement to verify all withdrawals are for your authorized transactions
21Steps to Minimize Potential for Identity Theft Report missing Social Security numbers or card to the Social Security AdministrationSeek other help from the Federal Trade Commission and the Identity Theft Resource CenterDon’t carry your SS card in wallet!
22Steps to Minimize Potential for Identity Theft Issue a “stop payment” if checks or credit cards are lost or stolenWhen establishing accounts at financial institutions, make sure they are insured by agencies that protect deposits in case the institution failsFederal Deposit Insurance Corporation (FDIC)Savings Association Insurance Funds (SAIF)National Credit Union Administration (NCUA)
23Steps to Minimize Potential for Identity Theft What is “Opt Out”? Definition: Method by which individuals can avoid receiving unsolicited product or service info; usually associated with telemarketing, marketing, online marketing or direct mailMake 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 marketersI want to “OPT OUT”…To remove your phone # from telemarketing lists use National Registry or state registrieshttps://www.donotcall.gov/To remove your personal information from financial institutions/insurance company listsIndividual company privacy statements have phone #s to contact
24Computer securityUse anti-virus and anti-spyware software and update them regularlyDo not click on links found in pop-up adsOnly download software from trusted websitesSet web browser security to medium-high or highKeep operating system and web browser software updatedClear hard drives before discarding, selling, or trading in computer equipment
25Computer security “https” s = secure 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 issecureEnter the website address yourself rather than following a link from an or internet advertisementUse a credit card instead of a debit card when making online purchases
26Computer securityDo not give out personal information from unsolicited contactsUnsolicited = callers who contact youDo not give out any personal information unless making a purchase (when you contacted company)Choose security questions with answers only you would know
27Computer infectionsWatch for clues that might indicate a computer is infected with spyware.Examples:a stream of pop-up adsrandom error messagessluggish performance when opening programs or saving filesIf 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 informationconfirm that the security software is active and currentrun software to scan the computer for viruses and spyware, deleting anything the program identifies as a problem
28Passwords Should the password be “I don’t know”? , Debit Cards, Banking documents, otherKeep your username and password protectedChange passwordsCreate a PasswordCombination of words, numbers, and symbolsUNIQUEUpper and Lower CaseCannot be easily foundDo not use obvious names, birthdays, addresses, SS# etc.
29Passwords When entering your Password in public places: “Securely” type in PIN # atATMPoint of Sale (POS) registerPublic Online outletsHow does predator get victim’s information?Phones with video cameras can replicate your keystrokes“Nosy” customers in lineDumpster DivingPredator often works with partner who “lifts” debit card for use with password later
31How do I know my identity has been stolen? YOU are your own best ADVOCATE!Verify your credit card statement chargesReconcile your bank accountKNOW WHAT YOU SPEND!Request credit reports from credit bureaus
32What to Do if Identity Theft Occurs Respond immediatelyKeep a record of related phone calls, letters, and sRequest a “fraud alert” with three major credit bureausEquifaxTransUnionExperianRenew “fraud alert” every 90 days with credit bureaus
33What to Do if Identity Theft Occurs Obtain a credit report from each major credit bureau and check for accuracyClose all accounts that have been involved in the theftOpen new accounts with NEW unique passwords and new PIN numbersFile a police report
35Software to protect idNew industry booming to assist consumers with themselves from this fastest growing crime
36Why do you think identity theft grew significantly during the recession? DesperationNo income to pay billsTime AvailableEmployment Want ads?video link: Stolen_Futures - 10 minute- if time allows