Jeff loses his identity! Lesson 8: Identity Theft Adapted from http://www.ohioattorneygeneral.gov/Individuals-and-Families/Consumers/High-School-Financial-Literacy-Lesson-Plans

Before we start … Identity theft means someone is using your identity (your name, address, social security number, possibly your work history, etc.) Usually this is to get credit If you lose your debit or credit card, or think it was stolen, that is not identity theft. You should IMMEDIATELY call the phone number your bank gave you to report it missing and close the account. You know the number because you were smart and stored it in your contacts list.

Meet Jeff Jeff has a copy of his credit report Meet Jeff Jeff has a copy of his credit report. He notices several inquiries for credit from companies where he did not apply for credit. He wonders if a thief has stolen his identity! 578-26-1516 (578) 261-5160

Identity theft occurs when someone fraudulently uses your personal identification information without your permission to obtain credit, take out a loan, open accounts, get identification, or pretend to be you in some other way.

Video: Deter. Detect. Defend. Avoid ID Theft http://www.youtube.com/watch?v=b C8pjXn-sWM (10 minutes) The video is from the Federal Trade Commission. The length of the video is 10 minutes. The source of the video is http://www.youtube.com/watch?v=bC8pjXn-sWM

How Identities are Stolen Jeff did some research and found that identity thieves can obtain personal information through: “Dumpster diving” E-mail messages (phishing) Voicemail or phone calls (vishing) Phishing and vishing occur when others email or call you and pretend to be a legitimate organization, such as your bank, to obtain personal information. For example, someone may call and pretend to be your bank and say they just need to confirm your account number. Once you’ve given the account number to the other person, you may be ripe for identity theft.

How Identities are Stolen Caller ID “spoofing” Video: Ohio Attorney General’s Office youtube.com (0:56) Text messages (smishing) Security breaches Watch for credit card skimmers Wiggle and pull everything 5-ways-thieves-steal-credit-card-data Caller ID spoofing is when technology is used to mask the Caller ID name and/or number displayed to the recipient. Scammers can use a familiar name and/or number to trick the recipient into thinking it is call from a legitimate company or government agency. The video is from the Ohio Attorney General’s Office as part of National Consumer Protection Week. The length of the video is 57 seconds. The source is at http://www.youtube.com/watch?v=kmTOC76Eh8I Smishing is phishing through text messages instead of e-mail. Scammers may want the recipient to click on a link or call a phone number to help them obtain personal information. Security breaches occur when an entity’s data retention systems are compromised. With increased online shopping, banking, etc., there are many more data breaches now than in the past. Grandparent scam youtube.com (3:21)

Protect Your Information Jeff learned a valuable lesson about the importance of protecting himself against identity theft Keep documents in a safe place Don’t carry around personal information (Social Security card, Medicare card) unless needed that day

Store important numbers in code Ex: SSN 123-45-6789 Store as (123) 456-7890 in your Contacts. Do NOT label it Social Security Number!

Protect Your Information Shred or burn paperwork that contains account numbers or Social Security numbers before discarding Only provide personal information if you initiate contact with a company or service. If a company or government agency calls asking for personal information, call them back at a phone number you know is correct

Protect Your Information Make sure the security software on your computer is updated Be aware of the computer repair scam – consumers receive a call or email claiming remote access is needed to fix a virus

Protect Your Information Use complex passwords on your computer and phone Request a credit freeze on your credit report transunion.com experian.com equifax.com

Protect Your Information Opt out of receiving pre-approved credit card offers optoutprescreen.com Monitor accounts and financial statements for unusual activity Review your credit report annualcreditreport.com Look for unknown accounts and inquiries Reviewing your credit report will alert you to if new accounts have been opened in your name without your permission. The video is from the Federal Trade Commission. The length of the video is 1 minute, 18 seconds. The source of the video is http://www.youtube.com/watch?v=k3yh9hjnE44

Are you a victim? What to do first. Call any company that you know was involved in the fraud to freeze the accounts. Place a fraud alert and get your free credit report. Go to ftc.gov/complaint and fill out an online complaint form. Print and save this report. This Identity Theft Affidavit will be needed to file a police report. File a police report with your local police department. More at: identitytheft.gov

Are you a victim? What to do next. Close any new accounts you see were opened in your name. Also, ask these companies to remove charges that were made. Contact one of the credit bureaus to make corrections to your credit report. Optional: Extended fraud alert - 7 years Credit freeze – stops ALL access to your credit report until you remove it More at: identitytheft.gov Video: What To Do If You're A Victim of Identity Theft https://www.youtube.com/watch?v=z9vfcCmh7Qk (1:13)

Other types of identity Theft Child Identity Theft Medical Identity Theft Tax-Related Identity Theft

Child Identity Theft Children’s identities are valuable because their credit history is clear and their Social Security number might not show up in credit databases. Easily undetected for a long period of time More at consumer.ftc.gov Young adults do not typically have credit reports, but can be a target because they have a “clean” report

Medical Identity Theft Someone uses your health insurance for their own medical care. Can be extremely dangerous because their medical records can get mixed in with yours. More at consumer.ftc.gov

Tax-Related Identity Theft Someone uses your social security number to get a tax refund or a job. It may be someone with no social security number or someone with a bad history who is trying to get a new start. More at consumer.ftc.gov

One more thing … What do you do if your debit card is lost or stolen? Report the loss or theft IMMEDIATELY! When your debit card is used, money comes right out of your account. When you report the loss impacts your financial liability. If you report the lost before any charges are made you owe nothing. If 2 business days pass - $50. If 60 days pass - $500. After 60 days – possibility more than the balance of your account. Follow up in writing. See more at consumerftc.gov

Be careful Be smart Be safe