1. By: Johnathan Rowse, Jacob Palmer, Kayla Morgan, Paige Frasier
Identity Theft
By: Johnathan Rowse, Jacob Palmer, Kayla Morgan, Paige Frasier

2. What is identity theft?
The Fraudulent acquisition and use of a person’s private identifying information, usually for financial gain

3. Financial
a situation in which an identity thief uses your Social Security number or other personal information for fraudulent financial transactions
victims of identity theft can suffer many negative financial effects including, paying interest and insurance rate, being denied for loans or lines of credit, and multiple band fees

4. Insurance
Insurance may include credit alerts, account and credit monitoring etc.
Victims of identity theft are often left with lower credit scores and spend months or even years getting credit records corrected

5. Medical
Occurs when someone steals your personal information to obtain medical care, buy drugs, or submit fake billings to medicare in your name
If the thief’s health information is mixed with yours, your treatment , insurance and payment records, and credit report may be affected

6. Criminal
Occurs when an imposter provides to law enforcement another person’s name and personal information during an investigation or upon arrest
Occurs when an imposter provides to law enforcement another person’s name and personal information during an investigation or upon arrest

7. Drivers License
Sure, it could be a simple matter of a teenager wanting to present it when trying to buy alcohol
If he’s pulled over and presents your driver’s license, then you are now the person who technically received the traffic ticket, even though he’s the guy who wadded it up and threw it in the passenger seat before happily driving off
Received a notice that your personal information was lost in a data breach

8. Synthetic Fraud that involves the use of a fictitious identity
By some reports, synthetic identity fraud now accounts for 85 percent of all identity fraud in the United States, costing an estimated $2 billion a year, according to investigators

9. Child
A child’s Social Security number can be used by identity thieves to apply for government benefits
be turned down for government benefits because the benefits are being paid to another account using your child’s Social Security number
get a notice from the IRS saying the child didn’t pay income taxes, or that the child’s Social Security number was used on another tax return

10. Credit Card Fraud
The taking of a credit card, or credit card number, from another person with the intent to use, sell, or transfer it to another person.
Security issues
Older credit cards with magnetic strips can easily be stolen
New cards don’t require a pin to be entered at the point of sale
Don’t protect against fraudulent online, phone, or mail purchases
Signature cards are the least secure
Older credit cards with magnetic strips can easily be stolen
New cards don’t require a pin to be entered at the point of sale
Signature only cards don’t protect against fraudulent online, phone, or mail purchases
Signature cards are the least secure
Consumers can call their bank and ask for an upgraded card with a pin, but the bank doesn’t have to oblige

11. What to do if you are a victim
Close your credit card account immediately.
Notify the credit card company
The most you would have to pay is $50.
Notify them before the stolen card is used
Insist on password only access

12. How to protect yourself from credit card fraud
Make sure your card is returned to you after you make a purchase
Keep a record of your credit card number.
Stay alert
Pay attention to the charges on your card
Protect your credit information on the internet
Use a secure browser
Keep records of your online transactions
Review your bank and credit card statements
Keep your personal information private

13. How is it committed/common scams
Traditional
They get your identity threw dumpster diving if you throw your mail away
People look for your credit cards, bank statements, medical bills and insurance or even old tax forms
People steal your mail right from your mailbox
Electronically
“Phishing" is a scam in which the identity thief sends an falsely claiming to be from a legitimate organization, government agency or bank
Oftentimes they try to lure the victim into surrendering personal information such as a bank account number, credit card number or passwords.

14. Signs that your Identity has been stolen
Finding your bank overdrawn
Error on your bank statement
Calls from creditors for unpaid bills you didn't rack up yourself
Not receiving bills or other mail—or receiving bills for goods and services you didn't purchase
Your health plan rejects your legitimate medical claim because the records show you’ve reached your benefits limit
You get notice that your information letter from the IRS saying the wage amount on your Social Security statement doesn't match the amount you filed on your tax return
Your postion was compromised by a data breach at a company where you do business or have an account

15. Long term effects Maxing out your credit limit Launching new accounts
Late payments
Legal problems
Credit issues
Benefit losses
Financial problems

16. How to prevent identity theft
Secure your social security number (SSN)
Watch out for “shoulder surfers”
Collect mail promptly
Pay attention to your billing cycles
If bills or financial statements are late, contact the sender
Review your receipts
Promptly compare receipts with account statements
Watch for unauthorized transactions
Store personal information in a safe place at home and at work
Install firewalls and virus-detection software on your home computer
Don't respond to unsolicited requests for personal information (your name, birthdate, social security number, or bank account number) by phone, mail, or online
Watch out for “shoulder surfers”
If bills or financial statements are late, contact the sender
If you suspect identity theft in your accounts, delete those accounts immediately

17. What to do if you are a victim
Complain to the creditor
Let them know that you are aware of the law
File a complaint with the government
As a last resort, sue the creditor
Let them know that you are aware of the law.

18. Sources http://legaldictionary.net/credit-card-fraud/