IDENTITY THEFT

Identity Theft Defined When someone uses another person’s name, address, social security number, bank or credit card account number, or other identifying information to commit fraud or other crimes.

Consequences of Identity Theft Generally, the loss of credit, reputation, and erroneous information included in a person’s credit report and/or police file are more significant than the actual loss of money.Generally, the loss of credit, reputation, and erroneous information included in a person’s credit report and/or police file are more significant than the actual loss of money. We should all strive to prevent identity theft because once it happens, it is difficult, expensive and time consuming to investigate and resolve it.We should all strive to prevent identity theft because once it happens, it is difficult, expensive and time consuming to investigate and resolve it.

Common activities of identity theft perpetrators include the following: Buys big-ticket items like big-screen TV’s, etc.Buys big-ticket items like big-screen TV’s, etc. Takes out car/home/other loansTakes out car/home/other loans Establishes phone/cell phone/internet service in the victim’s nameEstablishes phone/cell phone/internet service in the victim’s name Opens a new bank account and then “bounce” checksOpens a new bank account and then “bounce” checks Files bankruptcy so the victim won’t know about the new “unpaid” accountsFiles bankruptcy so the victim won’t know about the new “unpaid” accounts Gives the victim’s name to police when arrested and then skips bailGives the victim’s name to police when arrested and then skips bail Opens new credit card accountsOpens new credit card accounts Changes mailing addresses on current credit card accountsChanges mailing addresses on current credit card accounts

Fraudster’s Get Personal Information By Posing as a legitimate employee, government official, or representative of an organizationPosing as a legitimate employee, government official, or representative of an organization Rummaging through consumers’ trashRummaging through consumers’ trash Skimming credit cards when victims pay their bills (involves using an information storage device to gain access to credit card information when processing your credit card)Skimming credit cards when victims pay their bills (involves using an information storage device to gain access to credit card information when processing your credit card) Stealing information from an employer, hacking into a company’s computers or bribing an employee with access to confidential recordsStealing information from an employer, hacking into a company’s computers or bribing an employee with access to confidential records

Fraudster’s Get Personal Information By Stealing wallets/pursesStealing wallets/purses Sneaking into victims’ homes to steal informationSneaking into victims’ homes to steal information Completing a “change of address form” and having the victims’ mail delivered to either a PO box or the fraudsters’ addressCompleting a “change of address form” and having the victims’ mail delivered to either a PO box or the fraudsters’ address PhishingPhishing – app/shared/assets/page/example_messages app/shared/assets/page/example_messageshttp:// app/shared/assets/page/example_messages

Minimize the Risk Guard your mail from theft – have the post office hold your mail when you’re out of townGuard your mail from theft – have the post office hold your mail when you’re out of town Opt out of pre-approved credit cards (call )Opt out of pre-approved credit cards (call ) Guard Social Security cards and numbersGuard Social Security cards and numbers Safeguard all personal informationSafeguard all personal information Guard trash from theft (shred receipts, bank & credit card statements, etc.)Guard trash from theft (shred receipts, bank & credit card statements, etc.) Protect your home, wallet, and other valuablesProtect your home, wallet, and other valuables Protect passwords/personal computersProtect passwords/personal computers

After Identity Theft Occurs 1.Immediately contact the Federal Trade Commission (FTC) at Call the local FBI office and/or Secret Service agency 3.Call the local police 4.For tax related matters, call the IRS at Notify the Social Security Administration at Notify your bank, credit card companies, etc.

Federal Trade Commission Identify Theft website: Identify Theft website:

Chase Websites Chase Identify Theft Kit Website: Identify Theft Kit Website: Chase definition of “Phishing” page/PhishingChase definition of “Phishing” page/Phishing page/Phishing page/Phishing Chase warnings page/fraud_ sChase warnings page/fraud_ s page/fraud_ s page/fraud_ s Chase “Phishing” examples page/example_messagesChase “Phishing” examples page/example_messages page/example_messages page/example_messages Chase: Identify Theft FAQ page/Report_FraudChase: Identify Theft FAQ page/Report_Fraud page/Report_Fraud page/Report_Fraud

References Fraud Examination (2 nd ed) by Albrecht, Albrecht, and Albrecht, pgs Fraud Examination (2 nd ed) by Albrecht, Albrecht, and Albrecht, pgs Chase websitesChase websites FTC websiteFTC website