Identity Theft Westerville Division of Police

What is Identity Theft? “to obtain, possess, or use any personal identifying information of any living or dead person with the intent to fraudulently obtain credit, property, or services or avoid the payment of a debt or any other legal obligation” The Federal Trade Commission (FTC) estimates that more than 10 million adults will become victims of Identity Fraud this year.

How does Identity Theft occur? Thefts of wallets or purses Theft of mail Someone does a “Change of address” form Dumpster diving Personal information from work, home, or Internet Personal information obtained from“inside sources” Fraudulently obtaining credit reports

Common Scams “Canadian Lotteries” A letter is sent telling the proposed victim that he won a lottery and asking him to cash a check and send all or some of the money back to cover “taxes” or administrative fees. Nigerian Scams A letter is sent describing some foreign official or citizen’s need for money or investment. Again, the premise of cashing a check and sending back the proceeds remains the same.

Common Scams (cont’d) False employment The victim responds to an advertisement for employment (often in classified ads or on-line through websites such as Craigslist). The employment is typically related to repackaging, envelope-stuffing, or cashing checks for businesses as their “local representative.” The victim is told to keep around 10% as his/her processing fee, and then send the rest to other individuals, usually in faraway cities or Canada, Ghana, or Nigeria.

Common Scams (cont’d) False charities and donations There are ways you can give without responding to a high-pressure phone call or visit. Here are some warning signs: You are asked to make an immediate decision The caller becomes impatient or upset when you ask legitimate questions about validity Honest people welcome the chance to stand behind their causes

How will you know if you’re a victim? Failing to receive bills or other mailings Receiving credit cards you didn’t apply for Denial of credit for no apparent reason Receiving calls from debt collectors or companies about purchases you never made or accounts you never opened Follow-up of missing property (lost checkbook, stolen purse, misused credit card, etc.) Irregularities found when checking your credit report

How do you minimize your risk? How is your personal information used Minimize the number of credit cards Personal information over phone Buy a shredder Do not leave personal information out to see Credit reports from 3 major credit bureaus

How do you minimize your risk cont…? Protect documents Federal SSN State ID’s Driver’s License Birth Certificate Employee’s I.D. Number Mother’s Maiden Name Saving/Checking/Credit Card Account Numbers Review Statements monthly

How do you minimize your risk cont….? Mail Change address when move, forward mail Keep track of expected mail Bills, bank statements, or items with personal info. Mail bills at U.S. Postal Box, not at home If you suspect your mail has been stolen, contact the U.S. Postal Service & Police

Other ways to minimize your risk? Be aware of phone scams Credit Card Companies Spoofing You’ve won, just verify information Skimming Restaurants Hotels Phishing s Internet – Secure sites Https: or Lock symbol Public Documents Passwords

Identity Theft, Reported Losses Annually – only 35% actually reported 10 Million Victims $48 Billion – Business Losses $5 Billion – Individual Losses 300 Million Victim Hours – restoring credit, etc.

What if I become an identity theft victim? Contact creditors Fraud department-phone & in writing Close accounts Contact police department in a timely manner Contact fraud department of the 3 major credit bureaus TransUnion ( ) Experian ( ) Equifax ( )

How do I get my free reports? Go to annualcreditreport.com, or call Equifax, Experian, and Transunion all work through this service. NEVER go through any other service or pay to have your report sent to you. This is just another scam to get you to pay a “monitoring fee.”

What if I become an identity theft victim? Stolen mail Contact post office or check web site at: Bank accounts/checks/ATM’s Close accounts in a timely manner Passwords Contact major check verification services

What if I become an identity theft victim? Investments Report to broker and Security and Exchange commission Driver’s license/ID card Contact BMV Criminal records/arrests Contact attorney

How to resolve credit problems Credit reports Contact credit bureau by phone & in writing about inaccurate information 30 days to respond Must delete/correct unverified information or erroneous information Request a new corrected credit report sent to creditors within past 6 months

How to resolve credit problems Credit cards Truth in Lending Act-$50.00 liability Contact in writing creditor at “billing inquiries” address with information on billing error (certified mail) Within 60 days of billing statement 90 days to resolve dispute

How to resolve credit problems Debt collectors Send letter asking them to stop contact or advise them you do not owe the money “no further contact” ATM and debit cards Liability determined by time Within 2 business days- $ business days- $500 Over 60 days- everything

How to resolve credit problems Checks Liability is with bank Unless you fail to advise bank in timely manner

The Final Rule Remember, if it seems to good to be true, IT IS. Steer clear and count yourself among the fortunate!

Questions?