1. Protecting Your Credit Identity
Identity Theft
Protecting Your Credit Identity
© Family Economics & Financial Education – Revised October 2004 – Consumer Protection Unit – Identity Theft
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

2. Identity Theft
IDENTITY THEFT occurs when someone wrongfully acquires and uses a consumer’s personal identification, credit, or account information.
© Family Economics & Financial Education – Revised October 2004 – Consumer Protection Unit – Identity Theft
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

3. Personal Identification Information Includes
Name
Address and Telephone Number
Social Security number
Driver’s license number
Bank account numbers
Credit card numbers
Passwords
Bills
© Family Economics & Financial Education – Revised October 2004 – Consumer Protection Unit – Identity Theft
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

4. Ways Identity Thieves Acquire Information
Wallet/Purse Loss or Theft - Information is taken from a lost or stolen wallet/purse (most common method).
Mail and Phones - Information is taken from mailboxes, a change of address form is completed, or personal information is solicited by phone.
“Dumpster Diving” - Personal information is discarded carelessly either at home or by businesses and thieves remove it from the trash.
“Insider Access” - Dishonest employees steal the information and either sell it or use it.
Internet - Personal data taken off the Internet
Credit Reports – A credit report containing personal information may be obtained fraudulently.
© Family Economics & Financial Education – Revised October 2004 – Consumer Protection Unit – Identity Theft
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

5. How Information Can Be Used
To apply for a new driver’s license
To open new bank accounts
To apply for credit cards or store credit accounts
To obtain cash with bank cards
To get a job
To rent an apartment
To make retail purchases
© Family Economics & Financial Education – Revised October 2004 – Consumer Protection Unit – Identity Theft
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

6. Why People Shop Online and Risks
Order products from around the world.
Easily research items and compare prices.
Can be done at any time in the convenience of own home.
Risks
Personal information including credit card numbers, social security number, financial records, and bank numbers can be used.
© Family Economics & Financial Education – Revised October 2004 – Consumer Protection Unit – Identity Theft
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

7. Safety Tips for Shopping Online
Know the real deal
Get all details before buying including prices, delivery time, warranty information, and return policies.
Look for clues about security
Make sure the browser states “https” or “shttp” indicating it is secure.
Use a credit card
Credit cards are the safest way because a person has the legal right to dispute charges.
© Family Economics & Financial Education – Revised October 2004 – Consumer Protection Unit – Identity Theft
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

8. Safety Tips for Shopping Online
Use an escrow service
An escrow service will hold a person’s money until confirmation of the product or services has been received.
Keep proof handy
Print and file all information in case needed later.
© Family Economics & Financial Education – Revised October 2004 – Consumer Protection Unit – Identity Theft
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

9. Safety Tips for Shopping Online
Ask about “substitute” or “single use” card numbers
Allows a person to use his/her credit card number without putting the real account number online.
Get the scoop on the seller
Check complaint numbers at the state or local consumer protection agency and Better Business Bureau.
© Family Economics & Financial Education – Revised October 2004 – Consumer Protection Unit – Identity Theft
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

10. What to Do if Identity Theft Happens
© Family Economics & Financial Education – Revised October 2004 – Consumer Protection Unit – Identity Theft
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

11. Immediate Steps Act immediately!
Keep a detailed record of correspondence and phone records.
Contact the three major credit bureaus and request a “fraud alert.”
Follow with a letter sent by certified mail.
Close all accounts which have been tampered with or opened fraudulently.
File a police report.
File a complaint with the Federal Trade Commission.
© Family Economics & Financial Education – Revised October 2004 – Consumer Protection Unit – Identity Theft
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

12. Credit Card Liability
Truth in Lending Act limits liability for unauthorized charges to $50.00 per card.
A letter must be received within 60 days of the first bill containing the error.
The dispute must be resolved within 90 days of the creditor receiving the letter.
© Family Economics & Financial Education – Revised October 2004 – Consumer Protection Unit – Identity Theft
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

13. ATM & Debit Cards, Electronic Transfers
The Electronic Funds Transfer Act provides protection.
The amount a person is liable depends upon how quickly the loss is reported.
Within two days is a maximum of $50.00.
Within sixty days is a maximum of $
After sixty days a person may be liable for everything.
To report a loss call the financial institution and follow up in writing.
Get new bank numbers, personal identification numbers, and passwords.
© Family Economics & Financial Education – Revised October 2004 – Consumer Protection Unit – Identity Theft
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

14. Check Liability Checks
Contact the financial institution and stop payment.
Notify the check verification service.
Most states hold the financial institution responsible for losses of a forged check.
© Family Economics & Financial Education – Revised October 2004 – Consumer Protection Unit – Identity Theft
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

15. STAY ALERT BE CAREFUL BE SMART
Identity Theft
STAY ALERT BE CAREFUL BE SMART
© Family Economics & Financial Education – Revised October 2004 – Consumer Protection Unit – Identity Theft
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona

16. Activity Michelle Brown video and worksheet
© Family Economics & Financial Education – Revised October 2004 – Consumer Protection Unit – Identity Theft
Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences at the University of Arizona