Presentation on theme: "Identity Theft: Who’s Got Your Number? Brought to you by NASA Federal Credit Union."— Presentation transcript:
Identity Theft: Who’s Got Your Number? Brought to you by NASA Federal Credit Union
Seminar Objectives Learn: What ID theft is How your personal information gets stolen When to give out your SSN Minimizing risk of ID theft Signs that you are a victim of ID theft What to do if your identity is stolen
What is Identity Theft? Identity theft occurs when someone uses your name, social security number, credit card number, or other identifying information without your permission to commit fraud and other crimes.
How Big is the Problem? 332,646 Americans reported to the FTC that they were a victim of Identity Fraud in 2014* Identity theft was the #1 complaint for the 15 th year in a row made to the FTC in 2014 2014 FTC Ranking: Florida is # 1Texas is # 10 Washington is # 2 Total number of records containing sensitive personal information involved in security breaches in the US since January 2005 = 816,324,756** (as of 4/11/2015) * FTC.gov ** Privacyrights.org
How Big is the Problem? Anthem= 80 million The Home Depot = 56 million Morgan Stanley = 350,000 Chick-fil-A = Unknown Sony Pictures= 47,000 US Postal Service = 800,000 Staples = 1.2 million ** Privacyrights.org
Impact on Victims Damaged credit record Annoying Collection Efforts (mail, telephone) Loss of job opportunities Refused loans for education, housing, or cars Almost one-in-four consumers who received a data breach notification in 2012 became a fraud victim* Estimates*: Good news: 80% of victim have no out-of-pocket expense. 12 average hours spent resolving ID theft problem Worst-case scenario: Victim is arrested because of thief’s criminal record * Javelin Strategy and Research Survey
Who’s Most Vulnerable? The elderly because of telemarketing, Medicare, and check fraud Those who are “out and about” using credit cards, leaving receipts People who don’t take precautions People who freely give their personal information whenever asked
How Do Thieves Get Your Information? Steal records from employer; computer hacking Steal victim’s purse, wallet, or checkbook Steal mail containing sensitive information from the mailbox Dumpster diving Shoulder surfing at ATMs Pose as landlord or employer to obtain credit reports Fill out change of address to divert your mail Phishing via internet or Vishing via phone File Sharing Networks—Bit Torrent
What Do Thieves Do With Your Personal Information? Go on spending sprees with your credit and debit card information Change mailing address on your card accounts to avoid detection Take out loans in your name Establish phone service in your name File for bankruptcy in your name to avoid paying debts Give your name during an arrest
Skimming The thief swipes your card through a hand-held device or overlay device on the ATM The device gleans personal information off the magnetic strip on the back of the card The thief copies the security codes from your card to the fraudulent card and sells it to a counterfeiter LOOK OUT! LOOK OUT! For irregular devices that may have been added to the ATM
Skimming Technology: smaller, more sophisticated skimmers!
Spamming, Spoofing, and Phishing Oh My! SpammingSpamming – Sending unsolicited email indiscriminately to multiple mailing lists, individuals, or newsgroups SpoofingSpoofing – Creating a replica of a legitimate web page to fool you into submitting personal, financial, or password data PhishingPhishing – Luring victims to a fake web site through a scam. See current scams at antiphishing.org VishingVishing – Use of phone to obtain victim info SMishingSMishing – A scam to steal private information via text messages to cell phones MalwareMalware – Malicious software affecting your computer
Don’t Take the Bait! Beware of messages that: Use generic greetings Refer to an urgent problem State that your account will be shut down unless you supply them with personal information Urge you to click on a link within a message you weren’t expecting Don’t reply to suspicious e-mail. Be wary of unusual pop-up screens. Contact companies directly through their phone or their web addresses Avoid e-mailing personal or financial information. Report suspicious activity to the FTC. Forward spam to: firstname.lastname@example.org. File complaints at email@example.com
Protect Your Computer Install and update current virus, firewall, spyware detection, and spam blocker software. Spam blockers are free at antiphishing.org Good spyware detection and removal software includes: Spybot Search and Destroy and Ad-aware Use a secure browser- it scrambles info you send over the internet Don’t download files or open attachments or open links from strangers Think twice before using peer to peer software (BitTorrent, Limewire) Use strong passwords with a combination of letters (upper and lower case), numbers, and symbols Avoid automatic log-in; always log off when done Securely erase your hard drive before disposing of your computer Re-format hard drive Use hard drive erase utility
Shopping Safely Online Shop only with companies you know Use secure browser (look for closed padlock or unbroken key at bottom of browser window- not payment page) Pay only with credit card, or with third-party intermediary. (You have some protections if merchandise is defective, not as described, or is not received at all. ) Consider using separate credit card for online purchases, to track purchases more easily.
Safeguards Never leave your wallet, purse, checkbook, and account statements unattended—even in your home or at work. Review all statements regularly; check for unauthorized charges or suspicious activity. Don’t write down passwords or PINS – especially don’t carry them in your wallet! Use Verified by Visa or MasterCard’s Secure Code for online transactions. Shred all documents with sensitive information before discarding. Pick up new checks at Credit Union Mail bills from locked mailbox or Post Office
Use online Bill Pay whenever possible Place a password on your Telecom Service Use electronic deposit of paychecks, dividends, Social Security payments, and tax refunds Don’t authorize payment over the phone unless you call a specific/known creditor Keep a list – in a safe place – of credit/share draft account numbers, exp. Dates, and phone numbers to report thefts Use passwords to protect accounts Keep your account information up to date! Safeguards
Protecting Your SSN Never give SSN, account numbers, passwords, mother’s maiden name, birth date, PIN, or personal information over the phone, unless you initiated the call. Request SSN not to be on driver’s license. Don’t carry SS card around with you. Don’t use last four digits of SSN as PIN. Memorize PINS! Don’t let clerks handwrite SSN on checks as ID. Don’t have SSN preprinted on checks.
Protecting Your Social Security Number Must Give SSN Credit Unions/Banks Employers Income Tax Records Vehicle Registration Credit Bureau Reports College Records Loan Applications May Want to Refuse Over the Phone On Personal Checks On Driver’s License As ID for Store Purchases As General Identification
Check Your Credit Report! Check your credit report annually! FACT Act ensures one free report per year from each of the three credit bureaus. www.annualcreditreport.com 1-877-322-8228
Warning Signs You May be a Victim! Oftentimes…there aren’t any! Your monthly credit card or financial statements contain fraudulent charges, or suddenly stop arriving You don’t receive any mail for several days You are denied credit for no apparent reason You start getting bills from unfamiliar companies for goods and services you didn’t request Credit collection agencies try to collect on debts that don’t belong to you.
If You’re a Victim of ID Theft 1.Contact FTC’s ID Theft Hotline at 877-IDTHEFT to speak with a counselor and report ID theft. 2.Contact the fraud unit at one of the “big” three credit bureaus (mandatory sharing among all credit bureaus, per FACT act). Fraud alert will be placed on each of your credit reports within 24 hours. 3.Contact each financial institution, every creditor (credit card companies, mortgage lender, credit union), and the Social Security Administration to notify them of the fraud. Close all affected accounts. Follow each conversation with a letter and keep a copy. The FTC’s “ID theft affidavit” simplifies the process. Go to ftc.gov/idtheft 4.File a report with local police department and law enforcement agency where the ID theft took place. 5.Get copies of police reports and send to all creditors.
Additional Resources Federal Trade Commission CRC-240 Washington, D.C. 20580 877-IDTHEFT (toll-free) www.consumer.gov/idtheft Onguard Online www.onguardonline.gov Privacy Rights Clearinghouse www.privacyrights.org Better Business Bureau www.bbbonline.org
Your Credit Union is Your Partner NASA Federal Credit Union takes your privacy seriously. We protect your personal information through firewalls, intrusion detection systems, virus protection and patch management programs. Independent security audits are done on a regular basis. Whenever personal information is requested or displayed online, encryption technology prevents unauthorized access to your data.
Your Credit Union is Your Partner NASA Federal Credit Union can help with all your financial challenges.
Your Credit Union is Your Partner Questions? Presentation Slides: www.nasafcu.com/jsc