Presentation on theme: ". IDENTITY THEFT AWARENESS for YOUNG ADULTS Identity Theft Resource Center."— Presentation transcript:
. IDENTITY THEFT AWARENESS for YOUNG ADULTS Identity Theft Resource Center
. Why learn about ID Theft ? “…the greatest threat to consumers today is the growing menace of identity theft. Identity theft is far more insidious and harmful to our national welfare than many realize. It attacks the trust and confidence that nurture our open economy, even as it destroys individual lives.” John W. Snow United States Treasury Secretary June 30, 2003
. What is ID Theft ? “Identity theft occurs when someone uses your personal information such as your name, Social Security number, credit card number or other identifying information, without your permission to commit fraud or other crimes.” Federal Trade commission definition from http://www.consumer.gov/idtheft/
. Financial ID Theft and Credit What is personal credit? Personal credit is a system used extensively throughout the world whereby people are able to borrow money for different lengths of time with the expectation that they will pay back their creditors. For the convenience of borrowing the money, typically an interest rate payment or other arrangement is made.
. Financial ID Theft and Credit What is a credit report? A credit report is the factual record of one’s payment history as reported by one’s creditors. Provided by one of three national companies (Equifax, Experian, and Trans Union)
. Financial ID Theft and Credit Why is credit important? It is important to establish credit if you ever expect to borrow money for a car, apartment, home or college tuition. Many employers and colleges will consider your credit history as an indication of your personal responsibility. =
. Financial ID Theft Examples An imposter learns your personal data (name, Social Security number (SSN), address, birth date etc.) -- uses it to apply for telephone service, credit cards or loans, buy merchandise, lease cars or apartments. Pre-approved credit card offers--people often toss them into the trash--The thief simply signs the application and changes the printed address to his/her own. Citibank’s popular voice over commercials--make light of this situation, but the reality is far from funny..
. Financial ID Theft Examples No one is immune from this crime. Celebrites, kids and even deceased persons can have their identities stolen Steven Speilberg, Tiger Woods, Will Smith, Montel Williams, Oprah Winfrey, Robert Dinero, have all had bouts with ID theft Cases exist that involve parents stealing their child’s identity and people using the personal information of deceased persons for credit purposes.
. Statistics “ In a recent national survey of homeowners, 12% reported having been casualties of identity theft…it is hard to think of another crime that has touched such a large portion of Americans... A separate survey recently found that Americans are more concerned about becoming a victim of identity theft than they are of losing their job.” Wayne A. Abernathy Assistant Secretary of the Treasury, May 8, 2003
. Statistics Estimated 7 million victims last year (Gartner Research and Harris Interactive July 2003) 19,178 per day, 799 per hour 13.3 per minute The top 5 states are California, Arizona, Nevada, Texas and Florida
. Merchant Costs of ID Theft Currently Identity theft costs credit issuers and merchants over $58 billion a year, $17,000 average per case, and the number is only expected to rise. Graph from www.idtheft911.com web site
. How do thieves get my information? E-mail scams (Phishing) Telephone scams Dumpster diving Mail theft Shoulder surfing Computer hacking
. What can I do to protect myself? Unfortunately, there is no way to guarantee ID theft prevention; however there are numerous precautions that every person should take. Based on what we have covered already, what are some things that can be done to protect your identity from being stolen?
. E-mail scams (Phishing) For a devious e-mail example of Phishing visit: http://www.idtheft911.com/education/article /idtheft_20040108_citipopup.jsp It demonstrates how creative thieves can be to get personal information. What could be done in this situation to double check?
. Telephone Scams Involve deception to get you to divulge your personal information, so… Be suspicious of phone solicitors. Never provide information unless you have initiated the call, including anyone claiming to represent the government or law enforcement. Remember if it sounds to good to be true it most likely is!
. Dumpster Diving Thieves will go through your trash in order to find key pieces of personal information, so... “Shred Before It’s Read” Carefully destroy papers you throw out, especially those with identifying information and any pre-approved credit card offers!
. Mail Theft Someone could learn your personal information by stealing your mail, so… Use a locked mailbox to send and receive all mail Never leave mail unattended for pickup. Do not drop outbound mail in the mailbox after the day’s last pickup. Monitor your mail for the regular items you get.
. Shoulder Surfing Some thieves just listen/observe in public to gain personal info, so... Guard your personal information. Never give your SSN to anyone unless they have a good reason for needing it. Watch for people who may try to eavesdrop and overhear the information you give out orally.
. Computer Security Most people have a lot of personal info on their computer and it could be vulnerable to hackers, so… Use Firewall Software. Deal only with secure websites (look for https://). Password protect PDA’s & Laptops. Maintain software security updates that protect against trojan horses, viruses & spyware programs).
. What else can I do to protect myself ? Be careful with your Social Security Number (SSN)- If not needed, don’t carry your social security card or any other card with your SSN on it with you. Don’t put your SSN or drivers license number on your checks. Do not allow your SSN to be used as your Drivers License #