1. Lesson 8.5 Identity Theft July 2011Copyright © 2007-2011 … REMTECH, inc … All Rights Reserved1 Introduction Identity theft occurs when someone steals some or all of your personal information and uses it to commit illegal acts or fraud. It has become the number one compliant reported each year to the Federal Trade Commission. Each year millions of consumers have their identity stolen and must spend a significant amount of time and money to get their identity back and repair their credit history. It is essential for each of you to know how to protect your identity and what to do if your identity is stolen.

2. Lesson 8.5 Identity Theft July 2011Copyright © 2007-2011 … REMTECH, inc … All Rights Reserved2 Objectives Explain what identity theft is and how often it happens You should be able to do the following after completing this lesson Identify information that is considered personal information Describe why it is important to protect your personal information Discuss how the Fair Credit Reporting Act protects you Identify common identity theft scams and discuss how they work List steps you can take to prevent identity theft Review the steps that must be taken to recover from identity theft Define the key terms introduced or re-introduced in this lesson

3. Lesson 8.5 Identity Theft July 2011Copyright © 2007-2011 … REMTECH, inc … All Rights Reserved3 8.5.1 – Personal Information How your personal information defines you as a unique individual Why those who collect personal information must handle it with care What your personal information includes What the term “opt-out” means Why your Social Security number is so important In this section, you will learn Who can require you to provide your Social Security number

4. Lesson 8.5 Identity Theft July 2011Copyright © 2007-2011 … REMTECH, inc … All Rights Reserved4 8.5.2 – Identity Theft The formal definition of identity theft When most people realize it has happened to them The importance of the Identity Theft & Deterrence Act of 1998 Who enforces the laws preventing identity theft How much time and money the average persons spends to recover Why some people buy identity theft insurance In this section, you will learn

5. Lesson 8.5 Identity Theft July 2011Copyright © 2007-2011 … REMTECH, inc … All Rights Reserved5 8.5.3 – Identity Theft Scams The different and innovative ways thieves use to steal your personal information In this section, you will learn

6. Lesson 8.5 Identity Theft July 2011Copyright © 2007-2011 … REMTECH, inc … All Rights Reserved6 8.5.4 – Preventing Identity Theft Why knowledge and common sense are vital to preventing identity theft Things you can do to insure you don’t become a victim of identity theft In this section, you will learn

7. Lesson 8.5 Identity Theft July 2011Copyright © 2007-2011 … REMTECH, inc … All Rights Reserved7 8.5.5 – Recovering from Identity Theft Things you must do Why you must be realistic and organized In this section, you will learn Who is ultimately responsible for your recovery

8. Lesson 8.5 Identity Theft July 2011Copyright © 2007-2011 … REMTECH, inc … All Rights Reserved8 Discussion Questions Why is Identity Theft such a big problem in the United States but not in Europe? What is pre-texting?