Identity Theft PowerPoint

Report
MoneyCounts: A Financial Literacy Series
Identity Theft: Protecting Yourself
Amy Shuey (Penn State Federal Credit Union)
Dr. Daad Rizk
The Pennsylvania State University
301 Outreach Building
University Park, PA 16802
[email protected]
Learning Objectives
– Describe what identity theft is, and how it happens
– Determine several methods of reducing your risk of
becoming an identity theft victim
– Recognize the warning signs of identity theft
– Understand steps to take if you fall a victim of identity theft
– Explain why identity theft is a problem and what to do to
protect yourself and others
What is Identity Theft?
•
Happens when someone uses your name, credit card number, social security
number, password or other identifying data
–
to make purchases, get cash or commit fraud.
•
Identity theft affects credit worthiness, disrupt lives
•
Requires time and effort to restore compromised personal and financial records
•
9,000,000,00 American become victims of identity theft each year (FTC – Federal Trade
Commission)
•
Every 79 seconds, a thief steals someone’s identity, opens accounts in the victim’s name and
goes on a buying spree (CBSnews.com)
•
8% of all identity theft cases is impacting children under the age of 19 (CBSnews.com)
•
Florida is #1 with identity theft cases in the nation - targeting senior citizens (CBSnews.com)
What data to protect?
• Personal data –
–
–
–
–
Full legal name, Birthdate, Mother’s Maiden Name
Address, Hometown, Phone Number
Social Security Number, Graduation Date, PIN #
Credit Card numbers (expiration date, Security
Code#)
– Social Media, Cyber Space and Passwords
Poll
• Have you ever been a victim or know someone
who has been a victim of identity theft?
– Yes
– No
Protecting Yourself
• Ways to protect your personal information from being compromised
– Know how identity theft happens – in person
•
•
•
•
•
Rummaging through your trash or mailbox
Breaking into your home
Stealing your purse, wallet or cell phone
Changing your mailing address – diverting your bills and mail
Shoulder surfing
– Know how identity theft happens – online
• Phishing – posing as a legitimate business, emails, pop-up messages
• Hacking your computer – from a remote location while you are on your computer
• Skimming - using a magnetic card reader to steal your Card # while using ATM or
keypad in a store
• Pharming – redirecting your internet domain through technical means
• Spamming – unsolicited e-mails to multiple mailing lists
• Spoofing – Creating a replica of a legitimate web page
Poll
• When I use online banking or pay online using
my credit card
– I type the URL for the official Web address page
(https://www.xxx.com/)
– I “Google” my bank or vender and click on a link
to get to the page
Phishing
• Phishing (pronounced: fishing) is an online-fraud technique that is used by
criminals asking you to click on a link to lure you into disclosing your
personal information, which then enables the thief to:
– Apply for and get credit in your name.
– Empty your bank account and charge expenses to the limit of your
credit cards.
– Remove money from your accounts.
– Use a copy of your debit card to withdraw your money from anywhere
in the world.
Poll
• When I pay using a credit card
– I scan the card myself
– I hand the credit card to the cashier to scan
Skimming
• When a credit card is skimmed, data on the card, including the account
number, is electronically transmitted or stored. The credit card information
can then be encoded onto a lost, stolen, or counterfeit credit card and used
anywhere in the world. (stealing your card information)
• Examples of skimming instances include:
– A collusive store employee completes a valid sale, and then captures a second
(unauthorized) swipe covertly on a portable device before returning the card to the
cardholder
– A skimming device is added to the front of an ATM or gas pump and captures the credit
card information as the consumer attempts to use the machine
– A skimming device is added inside an ATM or gas pump and captures information
during a valid transaction. In many cases a cover camera is also set up to capture the card
holder’s personal identification (PIN) number
Poll
• I carry my Social Security Card in my wallet
– Yes
– No
Prevention is Key!
•
Ways to guard against identity theft – Surrounding and in public
– Be aware of your surrounding during financial transactions
– Carry only necessary to-go items in your purse or wallet (especially when
traveling)
– Secure your Social Security Number - never carry it in your wallet, memorize
the number and use cautiously on the phone or in public
– Initiate financial transactions yourself – react carefully to any and all
invitations
False sense of security concept, Be Aware!
Poll
• When I order checks in the mail, I have them
sent to my home address
– Yes
– No
Prevention is Key - 2
• Ways to guard against identity theft - paper documents
– Use a shredder – dispose in various trash bags
– Shred all bills except the last one – keep in a safe place
– Shred bank statements – you can always get copies online if needed
– Avoid receiving banking information in your mail box
• Order and pick up checks at your Bank
– Keep a (fire-proof) safe deposit box for your important personal
documents – passport, tax copies, birth certificate, marriage certificate,
deeds, etc.,
Prevention is Key -3
• More ways to guard against identity theft – Computer
– Use different password for different electronic devices, use hard-to-guess
password (do not keep your password under your keyboard)
– Use a firewall to shield your computer from hackers; antivirus and other types
of security protection software
– Wipe out your old hard drive before you dispose of your computer
– Log out and close your browser afterward when using computer – avoid public
computers to check personal data or financial information
– Never open a link in an unsolicited email or pop-up message
– Avoid being skimmed – watch for tapes on the ATM machine – use indoor
devices (more difficult to be tempered)
Prevention is Key - 4
• Ways to safe guard other devices and electronics
– Protect your cell phone with a password
– Watch for Pretexting – scamming your cell phone
– Watch your GPS device - do not leave on the window shield
(home address, telephone number, etc.,)
– Protect your un-opened mail – do not leave in the car
Prevention is key - 5
•
•
•
Children are a new target – 8% of all identity theft cases
– Check their credit reports, protect their Social Security Number and personal
data
Government Benefits –
– Social security payments, Tax refunds, Medicaid, Unemployment, Disability
benefits
– Student financial aid – PIN# - FAFSA - NSLDS
Medical Records
– Use of medical care under a stolen identity
• Avert payment
• Cause confusion with medical treatment
– Health insurance claims
Poll
• I am or someone in my family is in active duty
– Yes
– No
Active Duty Alert
• Service members who deploy can place an active duty alert on their
credit reports to help minimize their risk of identity theft
– An active duty alert on a credit report means businesses have to take extra steps
before granting credit in your name. Active duty alerts last for 1 year, and can
be renewed to match the period of deployment.
– Provide proof of identity, like a government-issued identity card, driver’s
license, military identification, birth certificate, or passport.
The company you call must contact the others.
– The credit reporting companies will take your name off their marketing list for
prescreened credit card offers for 2 years, unless you ask them to add you back
onto the list.
Poll
• I receive credit cards and/or insurance
invitations in my mail
– Yes
– No
Opting Out
• Consider opting out of prescreened offers of credit and insurance by mail.
– You can opt out for 5 years:
• Call toll-free 1-888-5-OPT-OUT (1-888-567-8688) or visit www.optoutprescreen.com. The
phone number and website are operated by the major consumer reporting companies.
– To opt out permanently:
• You may begin the permanent Opt-Out process online at www.optoutprescreen.com. To
complete your request, you must return the signed Permanent Opt-Out Election form, which will
be provided after you initiate your online request.
– The 3 nationwide credit reporting companies operate the phone number and
website.
Poll
• I have a contingency plan if I ever lose my
wallet
– Got copies of all information that I carry in my
wallet in my safe deposit box at home
– Got a master list of all information that I carry in
my wallet in my safe deposit box at home
– Got a master list of all information that I carry in
my wallet in a bank deposit box
Are you a Victim?
• Know the warning signs
– If you are failing to receive certain bills
– Watch for mysterious withdrawals from your checking, savings and investment
accounts
– Watch for charges on your credit card statements that you don’t recognize
– If you get denied credit for no apparent reason
– If you are contacted by debt collectors or stores for purchases you did not make
– Keep tabs on your credit report – get your free copy every 12 months from the
3 nationwide credit reporting agencies
• Equifax, Experian and TransUnion
• Annual Credit Report.com
• Call 877-322-8228
What Should You Do?
•
Steps you can take if you find yourself or someone you know a victim of identity theft
– Notify credit reporting agencies (CRAs) –one of them will suffice, they will notify the
other agencies – All three will send you a free credit report to check and report back to
them.
• Fraud Department
– Equifax 800-525-6285
– Experian 888-397-3742
– TransUnion 800-680-7289
– Contact creditors – fraud department – follow up in writing and provide copies of
supporting documentation
– Contact your Bank or Financial Institution
– File a police report – get a copy or a report number
– File a complaint with the FTC
•
•
Identity Theft [Federal Trade Commission]
or call 877-IDTHEFT (438-4338)
Worksheet
Contact Information
Questions & Comments
Thank you!
Amy Shuey (Penn State Federal Credit Union)
Dr. Daad Rizk
The Pennsylvania State University
MoneyCounts: A Financial Literacy Series
301 Outreach Building
University Park, PA 16802
[email protected]
1-(814)-863-0214

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