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A ID Theft & ACCOUNT FRAUD Welcome to MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP Prevention & Cleanup © 2012.

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Presentation on theme: "A ID Theft & ACCOUNT FRAUD Welcome to MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP Prevention & Cleanup © 2012."— Presentation transcript:

1 a ID Theft & ACCOUNT FRAUD Welcome to MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP Prevention & Cleanup © 2012

2 What will you learn? During this presentation you will learn: How ID theft and account fraud happen The effects of ID theft and account fraud How to avoid becoming a victim MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP

3 What is ID theft and account fraud? When someone steals another person’s personal information to commit fraud MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP

4 Other types of ID theft Medical ID theft Theft of a child’s identity MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP

5 MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP Theft of a deceased person’s identity

6 MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP Criminal ID theft

7 MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP How do thieves get your information?

8 MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP Data breach

9 The costs of identity theft Average fraud amount per victim in 2010: $4,607 Estimated out-of-pocket cost for victims of ID theft in 2010: $631 Victims may spend more than 100 hours cleaning up a newly opened fraudulent account. MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP

10 ID theft prevention MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP

11 Medical Information Bureau (MIB) MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP Specialty reports

12 Residential tenant reports MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP

13 Check writing history reports MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP

14 Employment data reports The Work Number maintains information on approximately 25 million employees.   MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP

15 Insurance claims reports Informs insurers about claims you have made against your homeowners or automobile insurance policies  LexisNexis C.L.U.E.:  Insurance Services Office (ISO) A-Plus: MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP

16 Employment background check reports LexisNexis Employment History Report   personalreports.lexisnexis.com/em ployment_history_report.jsp MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP

17 Internet safety MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP

18 Active duty alert MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP

19 Already an ID theft victim? MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP

20 ID theft cleanup File a police report. Contact appropriate state and federal law enforcement agencies. Complete a free ID theft affidavit from the FTC: MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP

21 Fraud alerts What is a fraud alert? Credit bureaus will work with you to verify information and delete fraudulent data in reports. Place a minor alert if you suspect your child’s identity has been stolen. MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP

22 Freeze your credit MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP

23 MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP Shopping for ID theft services

24 MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP Dealing with collection agencies

25 MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP

26 Non-profit resources Consumer Action: Identity Theft Resource Center: National Fraud Information Center: MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP

27 Non-profit resources Privacy Rights Clearinghouse: AARP: Nat’l Assoc. of Attorneys General (NAAG): MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP

28 MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP Visit money-wise.org for additional information and to access free financial education materials


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