Presentation is loading. Please wait.

Presentation is loading. Please wait.

Identity Theft: FTC’s Program for Victim Assistance.

Similar presentations

Presentation on theme: "Identity Theft: FTC’s Program for Victim Assistance."— Presentation transcript:

1 Identity Theft: FTC’s Program for Victim Assistance

2 What is Identity Theft? u When someone else uses your personally identifying information without your knowledge or permission to  Obtain Credit Cards  Get Wireless or phone products, services  Get Loans and Mortgages  Obtain Employment  Commit Many Other Frauds

3 How Does an Identity Thief Get Your Information? u Stealing files from places where you work, go to school, shop, get medical services, bank, etc. u Stealing your wallet or purse u Stealing information from your home or car u Stealing from your mail or from mail in transit u Calling you or sending an email with a bogus promise or purpose

4 Techniques Identity Thieves Use to Get Information u Dumpster Diving u Shoulder Surfing u Breaking & Entry u Bribing or inserting corrupt employees  Steal files  Run unauthorized credit checks u Skimming u Hacking u Pretexting  Credit reports  Solicitations  Web sites

5 How Does an Identity Theft Use Your Information? u Obtains Credit Cards in your name or makes charges on your existing accounts (42%) u Obtains Wireless or telephone equipment or services in your name (20%) u Forges checks, makes unauthorized EFTs, or open bank accounts in your name (13%) u Works in your name (9%) u Obtains personal, student, car and mortgage loans, or cashes convenience checks, in your name (7%)

6 Other Uses of your Personal Information u Commits crimes in your name (2%) u Gets medical services in your name (2%) u Gets Internet services or sends emails in your name (1%) u Leases an apartment or house in your name (1%) u Files bankruptcy in your name (.5%)

7 Consequences of Identity Theft u Identity thief seldom pays bills for debts incurred under your name u You may not discover for months or years u You are then saddled with bad credit report u Due to bad credit report, you may be denied new credit, loans, mortgages, utility service, or employment u Where criminal record created in your name, you may fail background checks for employment, firearms, etc., may even spend time in jail

8 The FTC’s Role in IDT Under the ID Theft Act, the FTC is required to: Create a database of victims’ complaints u Provide helpful information to victims of identity theft u Refer victims complaints to:  law enforcement agencies  credit bureaus

9 Core Components of FTC’s Identity Theft Program u Toll-free phone number for victims 1-877-ID THEFT (438-4338) u Web site: u Consumer education materials u Identity Theft Data Clearinghouse  Consumer Sentinel Access  Case Referral Program

10 FTC Hotline Phone Counselors Assist Victims u Advise consumers  how to minimize risks  what first steps to take to recover  subsequent steps, referrals to other government agency resources u Send out educational materials u Log consumer complaint information into the ID Theft database

11 FTC’s Outreach & Consumer Education u u Booklets u Links u Complaint form u ID Theft: When Bad Things Happen to Your Good Name u u I-877-ID THEFT u Bulk orders: “”

12 How Can You Protect Yourself from ID Theft? u Today:  Order your credit reports – review carefully  Put passwords on your accounts v Strong passwords – not Mothers Maiden Name  Secure your personal information in your home from others (roommates, employees)  Ask about security procedures in your workplace

13 Other Steps You Can Take To Prevent Identity Theft u Ongoing Basis:  Order your credit report every year  Do not provide personal information over the phone, Internet, or through the mail v Thieves pose as reps from banks, ISPs, gov’t agencies v Scams presented as reasonable mistake regarding your account  Guard mail and trash from theft  Pay attention to billing cycles  Be wary of promotional scams  Keep your virus protection software updated

14 What Should Victims Do? u Immediately:  Call fraud departments of CRAs and get fraud alerts and victim statements placed on credit reports, ask for free credit report  Contact creditors’ fraud departments, report fraudulent accounts and charges (ask if they accept IDT Affidavit, if not, ask for their fraud packet)  Report to local police, get copy of report (be persistent)

15 Next Steps for Victims u Notify each credit reporting agency of all of the inaccuracies on your credit reports, including Inquiries. Call and follow up in writing. u Notify each creditor where the identity thief committed fraud in writing. u Get creditors to provide you something in writing stating they have closed the accounts and absolved you of the fraudulent debts

16 New Tool: ID Theft Affidavit u Standard form to dispute in writing the charges caused by identity thief u Asks creditors to absolve victim of all charges u Victim can submit one form to many creditors, instead of separate, different forms to each creditor. u Available at or 877-ID-THEFT or from many

17 How To Fill Out the Affidavit u Fill out the core information  Your name, address, etc. and where you lived at the time of the fraud events  What you know about how the fraud occurred u Attach documentation if available  Photo id, proof of residency when the fraud occurred, and police report u Complete Individual Fraudulent Account Statements for Each Company Involved  Tells each company which account you need to have closed and the debt absolved

18 Where to Send the Affidavit u Each company where the id thief opened an account in your name gets the core information u A particular company gets only the Fraud Account Statement listing the account opened at that company u Credit Reporting Agencies get core information and Fraud Account Statements for all companies u PLEASE do not send to the FTC

19 New Initiative: Police Report Initiative If Victim Provides CRAs with Police Report: u CRAs will block the inaccurate information on victim’s credit report resulting from identity theft u Thus, when victim’s credit report is sent out, it will be correct  Victims won’t be denied jobs, credit etc. because of the id thief

20 SUMMARY: PROVING YOU ARE A VICTIM u Get Police Report; send to CRAs, attach to Affidavit u Complete ID Theft Affidavit or other fraud packets; send to creditors u Get creditors to provide you resolution letters u Organize your documents, keep copies

21 Victim of Identity Theft FTC Identity Theft Hotline 1-877-438-4338 IDT Data Clearinghouse Law Enforcement Referral (USSS Task Forces) If Investigated Internet Database Access WHAT HAPPENS TO CONSUMER COMPLAINTS

22 Investigations Coordinating Efforts u Among many partners  Federal Agencies  State/Local Gov’t  Private Sector u On many fronts  Data sharing  Case Referrals

23 FTC’s Law Enforcement Coordination u Information shared with local, state and federal law enforcement through: ******CONSUMER SENTINEL******  Law Enforcement Cyber-Tool  Real-time, desktop access through a secure website  Coordinate cross-jurisdictional investigations with “ALERTS” function  Track particular complaints or patterns with “AUTO-QUERY.”  Contacts and Resources

24 Identity Theft Data Clearinghouse u Federal government’s centralized database of identity theft victim complaints  Available free of cost over Sentinel Network u Sources: FTC Hotline, online complaint form, Social Security OIG u Contents  victim contact information  suspect information: name address phone relation  description of crime, details  what financial institutions were involved  police report number, department name

25 FTC and US Secret Service Case Referral Program u Partnership formed in May 2001 u One (1) Special Agent assigned to FTC on a Full Time basis u Mine and Cluster significant trend info within the IDT database u Refine extracted info through additional databases u Package and refer to USSS led task forces and other law enforcement agencies nationwide

26 SUMMARY Resources for consumers: u u 1-877-ID THEFT (438-4338) u When Bad Things Happen to Your Good Name u ID Theft Affidavit u Police Report Initiative u “”

Download ppt "Identity Theft: FTC’s Program for Victim Assistance."

Similar presentations

Ads by Google