1 Identity Theft: What You Need to Know

2 Identity Theft Identity theft is a crime of stealing key pieces of someone’s identifying information, such as: w name, w address, w Social Security number, w birth date, and w mother’s maiden name

3 Common Forms of Identity Theft w Credit card fraud w Bank fraud w Fraudulent loans w Internet fraud

4 How Identity Theft Occurs Identity thieves… w steal wallets and purses containing your ID w steal your mail w complete false “change of address” forms w rummage through trash (“dumpster diving”) w pose fraudulently as someone else to get your information

5 More Ways Identity Theft Occurs Identity thieves… w steal business or personnel records at your workplace. w find personal info in your home. w use info you put on the Internet. w buy personal info from “inside sources.” w “shoulder surf” at ATMs and telephones.

6 Look-Alike (Fake) Web Sites w Spoof messages sent to “verify” or “update” account info w Appears to come from reputable company Example: eBay, Best Buy, banks, merchants w Looks “legitimate” w Scam is called “phishing” Get people to disclose sensitive data Data used to commit identity theft

7 Red Flags of a Phishing Scam w s that direct users to a Web site to “validate” or “update” info w s warning accounts will be closed w Grammatical errors and typos w References to 9-11, the Patriot Act, etc. w Return addresses at yahoo.com, juno.com w Words Like “Urgent” and “Important”

8 Steps To Avoid Phishing w Be cautious: African refugees with $10 million, suspended FDIC insurance, etc. w Realize that banks never ask for account info, especially in an w Don’t click on any links in suspicious s w Report suspicious s to companies w D-E-L-E-T-E

9 Recommended Technology Fraud Risk-Reduction Practices w NEVER click on unsolicited pop-up ads w Avoid putting your address on public Web pages (can be harvested by spammers) w Don’t use “good” address in chat rooms w Avoid short addresses like “John101” w Keep virus software & patches up to date w Never forward chain letters & virus warnings

10 How Identity Thieves Use Your Information w Change mailing addresses on credit card accounts. w Open new credit card accounts. w Establish phone or wireless service in your name. w Open new bank accounts and write bad checks. w File for bankruptcy under your name. w Counterfeit checks or debit cards. w Buy and take out car loans in your name.

11 Reducing the Risk of Identity Theft w Destroy credit card applications, receipts, bank, and billing statements. w Avoid giving your SSN unless it’s absolutely necessary -- use other identifiers. w Pay attention to billing cycles. w Guard your mail from theft. w Put passwords on credit card, bank, and phone accounts.

12 Still More Ways to Reduce the Risk of Identity Theft w Don’t carry your SS card. w Save ATM and credit card receipts to check against statements. w Alert family members to dangers of pretexting. w Be informed about your financial institutions’ policies of sharing information. w Make sure your credit reports are accurate.

13 If You’re a Victim Contact the fraud departments of the three major credit bureaus. 2. Contact creditors or financial institutions for any accounts that have been tampered with. 3. File a report with local police or police where the theft took place.