Identity Theft Presented by 72 Facility You need a room that has enough space for people to move around the room. This presentation will take approximately 30 minutes. Audience Master Financial Education Volunteers and public presentations Instructional Objectives Participants will: Understand ways to prevent Identity Theft Materials and Equipment Multimedia projector Laptop computer with PowerPoint Watch for notification of the three new Identity Theft Publications and have them to had out with this unit. Source: Developed by Celia Ray Hayhoe, Ph.D. Family Resource Management Specialist Virginia Tech Glenn Sturm AmeriCorps VISTA Volunteer 72

Overview What is Identity Theft? Methods of Identity Theft How does it happen? Ways to protect yourself What to do if you fall victim Do you have an extra 8 hours a day to spend correcting mistakes? Have you ever been arrested by mistake? No. Well then pay attention as victims of identity theft may end up doing both. This presentation discusses identity theft, how to protect yourself, and what to do if you fall victim.

Identity Theft Individuals illegally obtain your personal identification and information, such as your name, Social Security number and/or credit card number, to conduct fraudulent business. As many as 10 million people have their identities stolen every year! Accounts for more than 5 billion dollars of fraudulent activity per year. Committing identity theft occurs when someone illegally obtains your personal identification information, such your name, Social Security number, or credit card number in order to commit fraud or other crimes. The Federal Trade Commission (FTC) estimates that up to 10 million people fall victim to identify theft every year!

Different Methods of Identity Theft Dumpster diving Skimming Phishing Changing your address Stealing Pretexting Hacking Dumpster Diving – Rummaging through your trash looking for bills or other paper with your personal information on it. Skimming - Stealing credit/debit card numbers by using a special storage device when processing your card. Phishing – Obtaining your person information through emails and pop-ups where they pretend to be a legitimate financial institution or company Changing Your Address – Completing a change of address form to try and get personal information through billing statements. Stealing – Stealing your wallets and purses; mail, including bank and credit card statements; pre-approved credit offers; and new checks or tax information. They may also bribe employees to access your personal records held by employers. Pretexting – Using false, fictitious or fraudulent documents or statements to obtain your personal information from financial institutions, telephone companies, and other sources. Hacking – Hacking into company databases allows identity thieves to have access to names, email addresses, marital status, credit data, and other personal information.

What Happens to Your Stolen Information? Open a new credit card account in your name Use your credit card information to pay for cell phone payments, heating, cable TV, etc. Create counterfeit checks Create fraudulent cards in your name Take out a loan in your name Get a job using your Social Security number Use your name to rent a house or obtain medical services Use your personal information when being arrested Open a new credit card account in your name. If they use your information and do not pay the bills, this could have a severely negative effect on your credit score. Use your credit card information to pay for cell phone payments, heating, cable TV, etc. If they also managed to change your address and you no longer receive your billing statements, it could take some time to realize your identity had been stolen. Create counterfeit checks Create fraudulent cards in your name. This could be either duplicating your ATM card or debit card to make electronic withdrawals from your account, or creating driver’s licenses or IDs using your information but their picture (which could allow them to apply for certain licenses or insurance policies for which they do not qualify). Take out a loan in your name. As with using your credit card information to pay bills, if they take out a loan and do not repay it, this could have severe consequences on your credit score. Get a job using your Social Security number. By using your Social Security number they could apply for jobs that would otherwise reject them because of their criminal record or lack of U.S. citizenship. Use your name to rent a house or obtain medical services. They might rent the home and/or receive the services by using your information and simply not pay for them or pay for them using your account. Another scenario might be that they apply for certain credits or deductions through qualifications you have that they do not have. Use your personal information when being arrested. If this happens, and you do not show up in court because you are unaware of it, there will be a warrant out for your arrest!

How to Protect your Information Safeguard account password and ID Use unique passwords Prevent easy accessibility Maintain up-to-date anti-virus software Make sure you are on the correct website Keep track of your records Avoid clicking on or giving information to suspicious websites Safeguard your account password and ID, never give your information to ANYONE at ANY time for ANY reason. If you are unsure if a request for your information is actually coming from your bank make sure you give that bank a phone call before you do anything. Make sure you have long passwords with a good mix of characters and numbers so that it will be harder to guess. Also, try and avoid any passwords that would be easy for someone to guess such as your birthday, anniversary, college name, etc. Prevent easy accessibility to your computer and personal information. Keep your computer and all sensitive information password protected. Also, make sure you log off of any website that contains sensitive information once you are done. Maintain up-to-date anti-virus, firewall and anti-spyware software. Keeping up-to-date software will better protect you from newer viruses. Before putting in the account name and password, or giving other sensitive information, make sure you are on the correct website for your bank. Also, make sure there is a closed padlock icon on the status bar; double clicking on the icon will allow you to see the website’s security certificate information to prove its validity. Keep track of your records and immediately contact your bank if you see any incorrect transactions, unauthorized payments or any inconsistencies on your billing or financial statements. Avoid clicking on or giving information to suspicious websites or emails. Do not click on websites offering you quick and easy ways to make money in exchange for some of your personal information, you can almost be sure this is a ploy to steal your sensitive information. Also, if you find an email asking for your personal information, even if it seems to be from your bank, DO NOT provide any personal information through emails, NO legitimate bank will ask you for sensitive information through an email.

How to Protect Your Information continued Check your credit report www.annualcreditreport.com 877-322-8228 Shred financial documents and any sensitive information before throwing it away Opt out of marketing databases http://www.worldprivacyforum.org/toptenoptout.html Stop your bank from giving out your name Regularly check your credit report; your credit reports contain information about you, including what accounts you have and how you pay your bills. Annual credit report will allow you to check your credit report from the three major credit agencies for free once every 12 months. (Note to Presenter: There are slides on how to do this in Unit 10 on credit reports.) Make sure to shred any sensitive information you have before throwing it away. This includes any financial statements or documents that have information such as your Social Security number or credit card number. Identity thieves hack into large marketing databases and obtain personal information. To make sure you do not potentially fall victim to this try to opt out of as many marketing databases as you can. Visit the website above to find out great ways to ensure you and your personal information are not on major marketing databases/lists. Under the Fair Credit Reporting Act you can tell your bank not to give your name to anyone for marketing purposes. This will help prevent the vulnerability of your personal information to hackers.

What Should I Do if I Fall Victim to Identity Theft? Place a fraud alert on your credit reports TransUnion: 1-800-680-7289; www.transunion.com Equifax: 1-800-525-6285; www.equifax.com Experian: 1-888-EXPERIAN (397-3742); www.experian.com Close accounts that have been illegally accessed or opened If you fall victim to identity theft, there are 4 things you should do as soon as possible: Place a fraud alert on your credit reports. This will force creditors to take reasonable steps to verify your identity before conducting their business, making it more difficult (though not impossible) for identity thieves to use your personal information fraudulently. Keep in mind identity thieves will still be able to open accounts and pay using existing credit cards for accounts that do not require a credit check. You need to contact one of the 3 major credit bureaus, and that company is legally required to inform the other 2 of your fraud alert. Review your credit report closely and take the proper steps to correct all errors on report. Here is the contact information: TransUnion: 1-800-680-7289; www.transunion.com Equifax: 1-800-525-6285; www.equifax.com Experian: 1-888-EXPERIAN (397-3742); www.experian.com Be sure to close any accounts that you know or believe have been either illegally accessed or illegally opened by identity thieves.

What Should I Do if I Fall Victim to Identity Theft? continued File a complaint with the FTC 1-877-ID-THEFT (438-4338) FTC.gov/idtheft Identity Theft Clearinghouse, Federal Trade Commission, Washington, DC 20580 File a police report Make sure you file a complaint with the FTC by either calling 1-877-ID-THEFT (438-4338) or filing a complaint form at ftccomplaintassist.gov. This will also give you access to a copy of a filed complaint form and vital information to aid the law enforcement. After you have filed your complaint with the FTC, closed the proper accounts, and placed a fraud alert on your credit report, make sure to file a police report with the law enforcement office in the community in which the identity theft took place (if you are unsure just file with your local law enforcement). Make sure to bring a printed copy of your complaint form from the FTC and any documentation regarding your request to place a fraud alert on your credit report. Obtain a copy of the police report for your records.

Questions? Does anyone in the audience have a question they would like to ask? If not, thank you for coming!