Identity Theft Someone wrongfully acquires and uses a consumer’s personal identification, credit, or account information. If you’re a victim Place fraud.

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Presentation transcript:

Identity Theft Someone wrongfully acquires and uses a consumer’s personal identification, credit, or account information. If you’re a victim Place fraud alert on credit reports Close all your accounts File police report, FTC

How To Avoid Identity Theft Monitor checking accounts and other accounts often Be Vigilant About Your Social Security Number Shred All Identifying Documents, Bank Slips, Etc. Shop Online Only on Secure Web Sites Don't Fall for Phishing Scams Beware of Telephone Scams Keep Anti-Virus and Anti-Spyware Software Up to Date Check Your Credit Report, Ask About Identity Theft Prevention Procedures Secure Your Important Documents Be Careful With Your Mail

Fraud A deliberate deception, designed to secure unfair or unlawful gain—cheating the consumer.

Know one of your Rights according to the Consumer Bill of Rights (1964) RESPONSIBILITIES To Safety To Use Products Safely To Be Informed To Seek Information and Use it to make Decisions To Choose To Choose Goods and Services Carefully To Be Heard To Speak Up and Let Likes and Dislikes Be Known Consumer Bill of Rights (State of the Union Address of 1962, President John F. Kennedy) Source: Thomson South-Western, Economic Education for Consumers; USOE Adult Roles & Responsibilities

Agencies or Sources of Assistance that Are Available to Consumers Food & Drug Administration (FDA) Food, drugs, cosmetics US Department of Agriculture (USDA) US Consumer Product Safety Commission (USCPSC) US Department of Transportation (USDT) Meat, dairy, gasoline, pesticides Toys, produces, fabrics Land, air, sea vehicles Federal Trade Commission (FTC) Encourage free enterprise and prevent restraint of trade and monopolies. Better Business Bureau (BBB) Maintain standards in business and advertising Bureau of Consumer Protection (BCP) Protect consumers against unfair, deceptive, or fraudulent practices. Consumer Unions (Consumer Product-Testing Organizations) Consumer Report Consumer Research Changing Times

Insurance Basic Terms Insurance: A means of financial protection against various risks Premium: Amount you pay for an insurance policy Deductible: Amount you pay BEFORE policy coverage begins. Co-Pay: A fixed fee you pay for certain health insurance covered items at the time of service.

Common Types of Insurance Auto Homeowner’s Life Disability (Insure your earnings/salary) Health