1. Unit Five Your Money – Keeping It Safe and Secure Identity Theft Part II Resource: NEFE High School Financial Planning Program

2. Identity Theft Identity Theft is when someone uses your personal information (name, social security number, credit card #, etc.) without your permission in order to commit fraud. Consequences of Identity Theft – Lost job opportunity – Unable to get loans – Arrested for crimes that did not commit

3. Identity Theft Ways your information may be used for identity theft: – Opening new credit card accounts in your name – Delinquent accounts show up on your credit report – Opening new account in your name and writing bad checks

4. Identity Theft Ways your information may be used for identity theft: – Forging your signature on blank checks or authorizing transfers in your name, draining all the money out of your accounts – Filing for bankruptcy under your name to avoid paying debts or avoid eviction – Buying a car with a loan under your name

5. Identity Theft Ways your information may be used for identity theft: – Getting new ID (ex. Driver’s License) using your name but with their picture – Giving your name to the police during an arrest. If imposter does not show up in court, an arrest warrant is issued in your name – Changing the billing address of your credit card account then running up charges on it

6. Identity Theft Ways that you give thieves your information: – Throwing away account statements and receipts with your full account number listed – Throwing away pre-approved credit offers that come in the mail – “dumpster diving” – SHRED OR TEAR UP THESE ITEMS BEFORE YOU TRASH THEM!

7. Identity Theft Ways that you give thieves your information: – Giving away your credit card or debit card number – “Skimming” – using a device that attached to an ATM or by using their data storage device DO NOT LET YOUR CARD OUT OF YOUR SIGHT DURING A TRANSACTION!

8. Identity Theft Ways that you give thieves your information: – Giving your information over the phone – “pretexting” – thieves ask for your account number or other personal information to verify our identity. ASK THE PERSON FOR A NUMBER TO BE ABLE TO CALL THEM BACK< THEN CALL THE COMPANY’S CUSTOMER SERVICE NUMBER!

9. Phishing Can appear in the form of an e-mail or pop-up message It appears to be from a legitimate source Indicates a “problem” with your account Asks you “update” or “verify” your information DO NOT GIVE THEM THE INFORMATION CALL THE COMPANY USING A NUMBER ON YOUR CARD OR ACCOUNT STATEMENT FORWARD PHISHING E-MAILS TO spam@uce.gov AND TO THE ORGANIZATION IMPERSONATEDspam@uce.gov

10. Free Software or Freeware Scam to get personal information Any kind of freeware can pose a problem, but file-sharing software is particularly problematic Can give a criminal free rein on your personal computer Check software’s sharing permission under “Properties,””Preferences,””Options,” or “Settings” menus to make sure that you are not giving someone access to all of the personal information on your personal computer If you decide to accept freeware, make sure to read the end- user license agreement to be sure you understand what you are saying yes to by using the software

11. Spyware Bad side effect of free downloads Spyware may be installed onto your computer without your consent which monitors and controls your computer use Can be use to – send you pop-up ads – Redirect your computer to unwanted websites – Monitor your web surfing – Record your keystrokes (can lead to identity theft)

12. Spyware DO NOT DOWNLOAD SOFTWARE UNLESS YOU KNOW EXACTLY WHAT IT IS AND THE REPUTATION OF THE COMPANY OFFERING IT IF YOUR ANTIVIRUS SOFTWARE DOES NOT INCLUDE A SPYWARE BLOCKER, INSTALL SEPARATE SPYWARE SOFTWARE, USE IT AND LEARN HOW TO UPDATE IT REGULARLY

13. If You Are a Victim of Identity Theft Place an initial fraud alert on your credit report to prevent the identity thief from opening any more accounts by calling the national fraud number of anyone of the three major national credit bureaus You will need to provide proof of your identity (social security number, name, address, and other personal information) The credit bureau that you contact will contact the other two bureaus For 90 days business will see the alert on your credit report and must verify your identity before issuing credit in your name – contact your directly

14. If You Are a Victim of Identity Theft You will get info on how to get free credit reports – wait about one month from time information was stolen to order then because suspicious behavior may nor show up on your credit report right away Look for questionable activity on your credit reports, check info like your social security number, name, address, employer’s name also Check credit report periodically over the next year to make sure that no new fraudulent activity has occurred

15. If You Are a Victim of Identity Theft If you do find fraudulent activity, immediately file a police report, keep a copy of the report that you filed with the police incase you need proof of the crime later Credit bureaus usually require you to file a police report in order to place an extended fraud alert on your credit reports File a complaint with the FTC (www.ftc.gov/idtheft or 877-438- 4338)www.ftc.gov/idtheft Call the Social Security Fraud Hotline 800-269-0271 Contact your financial institutions or credit card companies to close your accounts and put passwords (not your mother’s maiden name) on any new accounts that you open

16. How To Guard Against Identity Theft Remove mail promptly from your mailbox Guard your social security number Be very careful with receipts – Examples: take them with you when you leave the ATM, do not throw them into a public trash can Review your credit report from time to time Destroy pre-approved credit card offers before you throw them out

17. How To Guard Against Identity Theft Account for all new checkbooks when you receive them in the mail Block your ATM transactions with your body Commit all passwords and personal identification numbers to memory Be creative when you select a password