Presentation on theme: "Take Charge of Your Good Name, Don’t Be A Victim Strategies to Avoid Identity Theft and Fraud Teresa Muench"— Presentation transcript:
Take Charge of Your Good Name, Don’t Be A Victim Strategies to Avoid Identity Theft and Fraud Teresa Muench firstname.lastname@example.org email@example.com http://www.consumer.ftc.gov/media/video-0060-your-source-truly-free-credit-report-annualcreditreportcom
QUIZ Without looking, on a scrap of paper write down EVERYTHING you have in your wallet and / or purse or that you left in your car that has ANY IDENTIFYING INFORMATION: Cards Checks Bills EVERYTHING Bank statements Financial receipts or statements
What is Identity Theft Identity Theft and Assumption Deterrence Act of 1998 It’s a federal crime when someone, “knowingly transfers or uses, without lawful authority, a means of identification of another person with the intent to commit or aid to abet any unlawful activity that constitutes a violation of federal law, or that constitutes a felony under any applicable state or local law.”
Identity Theft Statistics 69% of Americans surveyed are concerned about their credit card info being hacked 2012 financial losses totaled $25 billion some reports twice that high 519 million financial records were stolen 110 million Americans have had their data exposed FTC receives 6,000 complaints/week 290,000/year
ID Theft…Are You At Risk? 1 in 28 e-mails contains a virus 54,000 security attacks occur each hour Dangerous Spam: often times infected with viruses or aimed at defrauding businesses or consumers Electronic Tax Filing Phony holiday shopping websites 31% of the victims know their perpetrator
How Do Identity Thieves Get Your Personal Information? Stealing wallets, purses, and mail Hacking into an organization’s computers Shoulder surfing Stealing credit card statements, pre-approved credit offers, tax information Public WiFi Stealing medical records
How Do Identity Thieves Get Your Personal Information? Change of address forms Camera Phones Outside sources you invite into your home Dumpster diving Diverting mail Phishing/Smishing/Doxing Corporate Computer Hacks Information is everywhere!
What Do Identity Thieves Do With Your Information? Credit Fraud: 26% Phone / Utilities Fraud: 18% Bank Fraud: 17% Employment Related Fraud: 12% Government Documents / Benefits Fraud: 9% Other: 36% Illegal / Criminal Medical Internet / E-mail
What Do Identity Thieves Do With Your Information? Take out an auto loan in your name Establish cell phone or utilities in your name Use debit cards to drain your bank accounts Open a bank account in your name and write bad checks against that account Give your name to police during an arrest Get medical treatment Commit a felony
How Do I Know If I Am A Victim Of Identity Theft? Unable to obtain credit Don’t receive bills in the mail Get calls from creditors Receive credit cards that you did not request
How Do I Know If I Am A Victim Of Identity Theft? Unauthorized charges on your credit card or debit card Unknown withdrawals from your checking or savings accounts Notice of unfamiliar entries on your credit report Explanation of Benefits for services you don’t recognize
How Can I Minimize My Risk? Clean your purse and / or wallet Only carry what you need in your purse or wallet Don’t carry: Social Security Card Health Insurance Card (unless…) Pay stubs Bills and Receipts Homework: Clean your purse and / or wallet Photocopy both sides of ALL the contents in the event it is stolen Put the photocopy in a safe
How Can I Minimize My Risk? Don’t write your Social Security Number on checks Don’t write account numbers on checks Lock your purse and / or wallet when at work, traveling, or shopping. Only shop on-line with companies providing secure transactions Create effective passwords Add extra security/passwords to your accounts, if available
Passwords Use passwords on credit card, banking, utility, retirement accounts, webcams Avoid easily guessed passwords like: Mother’s maiden name Your birth date Last four digits of your Social Security Number Phone Number Street name
How Can I Minimize My Risk? Know to whom you are giving the information Who initiated the call? If unsure, call them back Don’t be a courtesy victim Thieves pose as: Bank Representatives Internet Service Provider Governmental Agents Don’t be scared or taken in by those with aggressive sales pitches or fraudulent investment “opportunities”
How Can I Minimize My Risk? Only use reputable websites for online purchasing Use one card for all online purchases Clean up your social media accounts, strip away all personal information Make certain your firewalls and anti-virus programs are up to date on your computers Don’t click on text message links without knowing the sender
How Can I Minimize My Risk? Review all medical bills for dates of service and doctor visits Review insurance statements Prescriptions labels
To Share or Not To Share Before revealing personal information, ask: Is this information required by law? Why do you need it? Will my information be shared with others? What happens if I don’t provide it? Are there other alternatives? How will you protect my information to ensure it isn’t stolen? Required by employers, financial institutions, governmental agencies, and businesses for credit checks
To Share or Not To Share… That Is The Question Opt Out Direct Mail: www.dmaconsumers.org/cgi/offmailinglist Unsolicited Credit Offers: www.optoutprescreen.com 888-567-8688 Telemarketing: www.donotcall.gov 888-382-1222 Home phone and cellular phone, separately Re-up every five years
How Can I Minimize My Risk http://www.consumer.ftc.gov/media/video-0060-your-source-truly-free-credit-report-annualcreditreportcom http://www.consumer.ftc.gov/media/video-0060-your-source-truly-free-credit-report-annualcreditreportcom www.annualcreditreport.com Equifax: 800-525-6285; www.equifax.com www.equifax.com P.O. Box 740241, Atlanta, GA 30374 Experian: 888-397-3742; www.experian.com www.experian.com P.O. Box 9532, Allen, TX 75013 TransUnion: 800-680-7289; www.transunion.com www.transunion.com P.O. Box 6790, Fullerton, CA 92834
How Can I Minimize My Risk The credit report contains information about: Where you work and live Lines of credit in your name Credit payment history Whether you have been sued, filed for bankruptcy, been arrested Prevent Access to your Credit Reports Fraud Alerts (90-day) 1-800-525-6285 - Equifax Fraud Credit Freeze (Lock & Unlock for approx $10 each) Varies by State
The Benefits of Quick Discovery 30-60: average number of hours victims spend resolving their ID Theft problems No out-of-pocket expenses were incurred by 67% of victims who discovered the misuse of personal information within five months of the start of abuse 76% of victims who discovered the abuse within one month spent fewer than 10 hours to resolve the problem
How Can I Minimize My Risk? Buy a cross shredder Shred Receipts Bills Magazine address labels (outside AND inside labels) Pre-approved credit card offers EVERYTHING Buy a safe and lock important papers inside Buy Identity Theft Insurance
A Word On Mail… Pay attention to billing cycles Follow up with creditors if bills don’t arrive on time Guard your mail Deposit outgoing mail in post office collection boxes Promptly remove mail from your mailbox Consider using a secure or lockable mailbox at home Consider opening a Post Office Box Homework: Get a calendar and write down when bills arrive for one month.
If You Are A Victim: Step #1 Contact one of the 3 major credit bureaus: Equifax: www.equifax.com 1.800.685.1111www.equifax.com Experian: www.experian.com 1.888.397.3742www.experian.com TransUnion: www.transunion.com 1.800.916.8800www.transunion.com Place a Fraud Alert on your credit report Initial alert: remains for 90 days Extended alert: remains for 7 years
If You Are A Victim: Step #2 Close any fraudulent accounts by speaking with someone in the fraud or security department Bank accounts Credit and debit cards Cell phone Loans Follow-up in writing Provide copies (not originals) of documentation
If You Are A Victim: Step #3 File a complaint with the Federal Trade Commission (FTC) http://www.consumer.ftc.gov/features/feature -0014-identity-theft http://www.consumer.ftc.gov/features/feature -0014-identity-theft 877.ID.THEFT (or TTY 866.653.4261) Complete an Identity Theft Affidavit
If You Are A Victim: Step #4 File a police report Preferably in the community where the identity theft occurred Create ID Theft Report (police report + Affidavit) http://www.consumer.ftc.gov/articles/0277- create-identity-theft-report http://www.consumer.ftc.gov/articles/0277- create-identity-theft-report
If You’re a Victim Theft involving Social Security Number Report to SSA’s Fraud Hotline at 1-800-269-0271 Also call SSA at 1-800-772-1213 to verify earnings and request copy of Social Security Statement. Similarly, contact your State Retirement System, as necessary. Under certain circumstances, you can request a new SSN
Resolving Problems Additional Help State Office of the Attorney General www.naag.org U.S. Federal Bureau of Investigation www.ifccfbi.gov
Resolving Problems Fair Credit Reporting Act (FCRA) Establishes procedures for correcting mistakes Information providers (banks, creditors) responsible for correcting inaccurate or incomplete information Credit bureaus must investigate disputes, usually within 30 days Disputed information that cannot be verified must be deleted Erroneous information must be corrected Inaccurate information must be deleted Unauthorized charges to your credit card limited (in most cases) to $50 per card Disputes MUST be in writing Include copy of police report with your dispute letter
Resolving Problems Electronic Fund Transfer Act Provides protections for transaction involving ATM or debit cards or other means of electronic transfer. Report theft/loss immediately! If you report within two business days, your liability is limited to $50. If you report within 2 – 60 days, you may be liable for up to $500. You may be completely liable if not reported within 60 days. NOTE: VISA and MasterCard have agreed to limit liability for unauthorized use of VISA and MasterCard debit cards to $50, regardless of time.
Resolving Problems Fair and Accurate Credit Transaction (FACT) Act of 2003 Free credit report once a year Notification before any negative information is posted to your credit report Access to any documents related to fraud Requires merchants to truncate account numbers on receipts by 2007
Resolving Problems October 2014 President Obama unveiled “Buy Secure” FTC has new tools to help consumers Easier way to report ID Theft and repair damage Dept. of Justice, Commerce and Homeland Security now providing info and resources Public an private initiative www.IdentityTheft.gov more comprehensive www.IdentityTheft.gov
NEA Member Benefits Does not share information with third parties Vendors do not share information Credit inquiries require member’s approval Data is protected via secure Internet link Consumer information and resources available at www.neamb.com www.neamb.com Wells Fargo https://www.wellsfargo.com/privacy_security/repairkit https://www.wellsfargo.com/privacy_security/repairkit Discover California Casualty
Conclusion Your Identity is an asset that deserves special protection Identity theft will continue as long as thieves exist Prevent iD Theft as best as you can Physical & Computer Protection..SHRED IT! Monitor Activity Review Credit Reports, accounts, mail, etc. www.IdentityTheft.gov www.neamb.com Pass it on!
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