1. “Credit score vocabulary”
3/3/14
“Credit score vocabulary”
What does it mean if you have a delinquency on your credit report?
You have missed a payment on a bill or loan.
What does it mean if you bill is sent to collections?
Your unpaid debt has been turned over to a collection agency.
On desk: “Would You Lend to John Smith?” wksht.

2. Would You Lend to John Smith?
Positives
Negatives

3. 3/3/14
Econ. Agenda
What is identity fraud? (class notes)
Identity Fraud (videos)
How do I prevent identity fraud? (online research)
HW: Identity fraud wksht.

4. 3/3/14 Class Notes – identity fraud
fraudulent:
doing something illegally
Identity fraud/identity theft:
making illegal purchases by stealing someone’s:
Social Security number
Credit card number
Passwords
Bank account information, etc…
Identity fraud results in:
Loss of $$$
Puts you in debt
Lower credit scores 
Denied loans & credit from banks

5. 3/3/14 Class Notes – identity fraud
How do thieves obtain my personal information?
physically:
stealing
“dumpster diving” for identification info.
electronically:
Compiling info. you voluntarily put on the internet
Date of birth (Facebook?)
Online purchases = credit card info.
Passwords
Online banking, etc…
phishing:
attempting to acquire information via

6. Phishing email example:

7. Phishing email example:

8. 3/3/14 Class Notes – identity fraud Identity fraud statistics:
Dollar amount stolen in 2012:
$21 billion
% of U.S. adults affected in 2012:
5.26%
(# increased by 1 million from 2011)
Rate of identity fraud incidences in U.S.:
1 every 3 seconds!
= 20 per minute
= 28,800 per day
Source: Identity Fraud Report. Javelin Strategy & Research.

9. How do I avoid identity fraud?
Take notes on the following videos:
Federal Trade Commission (FTC):
Teen ID theft:
Facebook ID theft:

10. What can I do to protect myself from ID theft?
Use identity theft resources on the web to find out!
General ID theft tools & resources:
Shopping & ID theft: