. IDENTITY THEFT AWARENESS for YOUNG ADULTS Identity Theft Resource Center

. Why learn about ID Theft ? “…the greatest threat to consumers today is the growing menace of identity theft. Identity theft is far more insidious and harmful to our national welfare than many realize. It attacks the trust and confidence that nurture our open economy, even as it destroys individual lives.” John W. Snow United States Treasury Secretary June 30, 2003

. What is ID Theft ? “Identity theft occurs when someone uses your personal information such as your name, Social Security number, credit card number or other identifying information, without your permission to commit fraud or other crimes.” Federal Trade commission definition from

. Three Primary Types Financial Identity theft: most common type relates to your personal credit Criminal Identity theft: relates to your criminal police record Identity Cloning: relates to all aspects of your identity

. Financial ID Theft and Credit What is personal credit? Personal credit is a system used extensively throughout the world whereby people are able to borrow money for different lengths of time with the expectation that they will pay back their creditors. For the convenience of borrowing the money, typically an interest rate payment or other arrangement is made.

. Financial ID Theft and Credit What is a credit report? A credit report is the factual record of one’s payment history as reported by one’s creditors. Provided by one of three national companies (Equifax, Experian, and Trans Union)

. Financial ID Theft and Credit Why is credit important? It is important to establish credit if you ever expect to borrow money for a car, apartment, home or college tuition. Many employers and colleges will consider your credit history as an indication of your personal responsibility. =

. Financial ID Theft Examples An imposter learns your personal data (name, Social Security number (SSN), address, birth date etc.) -- uses it to apply for telephone service, credit cards or loans, buy merchandise, lease cars or apartments. Pre-approved credit card offers--people often toss them into the trash--The thief simply signs the application and changes the printed address to his/her own. Citibank’s popular voice over commercials--make light of this situation, but the reality is far from funny..

. Financial ID Theft Examples No one is immune from this crime. Celebrites, kids and even deceased persons can have their identities stolen Steven Speilberg, Tiger Woods, Will Smith, Montel Williams, Oprah Winfrey, Robert Dinero, have all had bouts with ID theft Cases exist that involve parents stealing their child’s identity and people using the personal information of deceased persons for credit purposes.

. Criminal ID Theft The imposter provides the victim’s info instead of their own when stopped by law enforcement. Results in inaccurate warrants and police records.

. Criminal ID Theft Example A nursery owner in Austin, Texas was pulled over for a broken brake light, but when his police record was pulled up he learned that he was wanted for rape and child molestation. After a stressful explanation and verification process, it was found a former temporary employee of his had been using his identity for months!

. Identity Cloning Imposter uses victim’s info to establish a new life. They work and live as you. For all practical purposes they are you.

. Identity Cloning Example An American citizen of Mexican decent had an Illegal Mexican immigrant steal his identity for several years before he realized that the illegal immigrant imposter had duplicated almost every form of personal identification possible.

. Statistics “ In a recent national survey of homeowners, 12% reported having been casualties of identity theft…it is hard to think of another crime that has touched such a large portion of Americans... A separate survey recently found that Americans are more concerned about becoming a victim of identity theft than they are of losing their job.” Wayne A. Abernathy Assistant Secretary of the Treasury, May 8, 2003

. Statistics Estimated 7 million victims last year (Gartner Research and Harris Interactive July 2003) 19,178 per day, 799 per hour 13.3 per minute The top 5 states are California, Arizona, Nevada, Texas and Florida

. Statistics From FTC’s 2000 report: images/idtheft6.gif

. Merchant Costs of ID Theft Currently Identity theft costs credit issuers and merchants over $58 billion a year, $17,000 average per case, and the number is only expected to rise. Graph from web site

. Victim Costs of ID Theft “What victims [of identity theft] do have in common is the difficult, time consuming, and potentially expensive task of repairing the damage that has been done to their credit, their savings, and their reputation.” Ralph Basham Director, US. Secret Service July 29, 2003

. Victim Costs of ID Theft New ITRC study indicates 600 hours and $16,000 including time lost from work, family and social life to reclaim identity and credit Emotional and Mental anguish

. How do consumers find out that they are victims? “One of the most harmful abuses of personal information is identity theft. Victims usually find out about such frauds when collection agencies pursue them for payment on these illegally created accounts, or they are denied credit because of unpaid debts accrued by identity thieves.” George W. Bush President of the United States February 4, 2002

. How do consumers find out that they are victims? Denied credit, mortgage or loan Collection notices Denied driver’s license renewal Discharged from job or denied employment Change in insurance rates Bills or credit cards you never requested Noticed missing mail Law Enforcement Agency notification Arrested

. How do thieves get my information? scams (Phishing) Telephone scams Dumpster diving Mail theft Shoulder surfing Computer hacking

. What can I do to protect myself? Unfortunately, there is no way to guarantee ID theft prevention; however there are numerous precautions that every person should take. Based on what we have covered already, what are some things that can be done to protect your identity from being stolen?

. scams (Phishing) For a devious example of Phishing visit: /idtheft_ _citipopup.jsp It demonstrates how creative thieves can be to get personal information. What could be done in this situation to double check?

. Telephone Scams Involve deception to get you to divulge your personal information, so… Be suspicious of phone solicitors. Never provide information unless you have initiated the call, including anyone claiming to represent the government or law enforcement. Remember if it sounds to good to be true it most likely is!

. Dumpster Diving Thieves will go through your trash in order to find key pieces of personal information, so... “Shred Before It’s Read” Carefully destroy papers you throw out, especially those with identifying information and any pre-approved credit card offers!

. Mail Theft Someone could learn your personal information by stealing your mail, so… Use a locked mailbox to send and receive all mail Never leave mail unattended for pickup. Do not drop outbound mail in the mailbox after the day’s last pickup. Monitor your mail for the regular items you get.

. Shoulder Surfing Some thieves just listen/observe in public to gain personal info, so... Guard your personal information. Never give your SSN to anyone unless they have a good reason for needing it. Watch for people who may try to eavesdrop and overhear the information you give out orally.

. Computer Security Most people have a lot of personal info on their computer and it could be vulnerable to hackers, so… Use Firewall Software. Deal only with secure websites (look for Password protect PDA’s & Laptops. Maintain software security updates that protect against trojan horses, viruses & spyware programs).

. What else can I do to protect myself ? Be careful with your Social Security Number (SSN)- If not needed, don’t carry your social security card or any other card with your SSN on it with you. Don’t put your SSN or drivers license number on your checks. Do not allow your SSN to be used as your Drivers License #

. What else can I do to protect myself ? When possible, don’t carry cards with your SSN on them. Don’t put your SSN or drivers license number on your checks. Do not allow your SSN to be used as your Drivers License #

. What else can I do to protect myself ? Check your credit reports once a year from all three of the credit reporting agencies. (Equifax, Experian, and Trans Union) Cost is about $8 each unless a victim, refused credit or a job because of the information on the report, then it is free.

. What else can I do to protect myself ? OPT OUT of pre-approved credit card offers. Call 888-5OPT OUT. You will need to give your SSN to do this.

. Identity Theft Links

. Identity Theft Resource Center PO Box 26833, San Diego, CA All rights reserved Copyright © 2004 IDRTC, Tim Haws & Matt Moore.