1. Identity Theft Essentials
Advanced Level

2. Identity Theft According to the Federal Trade Commission (FTC):
IDENTITY THEFT occurs when someone wrongfully acquires and uses a consumer’s personal identification, credit, or account information
The FTC is a government agency that promotes consumer protection

3. FTC website
The FTC provides a consumer identity theft education website:
Includes great information for those who suspect they may be a victim of identity theft, are a victim of identity theft, or want to learn more about identity theft
Has a “Deter, Detect, Defend” theme

4. Personal Information
Name
Address & Telephone Number
Social Security Number
Driver’s License Number
Birth Date
Credit Card Numbers
Bank Account Numbers
Identity thieves try to obtain personal information from victims in order to steal their identities
Personal Information

5. Personal Information What daily activities require an individual
Making purchases with a check, credit or debit card
Applying for a credit card or loan
Online or telephone shopping
Paying bills through the mail or online
Going to the doctor
What daily activities require an individual
to share personal information?

6. How Do They Do It?
Thieves obtain personal information through a variety of methods:
Stealing - Information is taken from a purse or wallet, personnel records from a workplace, tax information, bank or credit card statements, or pre-approved credit card offers from the mail
Diverting Mail - Thieves can complete a change of address form and have the victim’s bills and statements mailed to a different location
“Dumpster Diving” - Personal information is discarded and thieves remove it from the trash
Skimming - Thieves attach a device to card processors to steal credit and debit card information

7. How Do They Do It? Methods continued...
Phishing - Thieves use a form of electronic communication (usually ) to pretend to be a company or depository institution in order to get the victim to give up their personal information
Pretexting - Thieves use false pretenses to obtain your personal information from financial institutions, telephone companies, and other sources
Spyware - Software installed on the victim’s computer, without their knowledge or consent, that monitors internet use, sends pop up ads, re- directs the computer to other sites, and tracks key strokes
Hacking - Information is stolen by breaking into a computer system

8. What Identity Thieves Do With Information
What can identity thieves do if
they obtain personal information?
Apply for a new driver’s license
Open new bank accounts
Apply for credit cards or store credit accounts
Obtain cash with bank cards
Get a job
Rent an apartment
Take out student loans
File for bankruptcy

9. DETER- Minimize Your Risk
Key Guidelines
Protect your Social Security number
Only give it out to trusted organizations and only when absolutely necessary
Protect financial information
Sign the back of credit and debit cards with signature and “Please see ID”
Close unwanted accounts by writing and by phone
Cut up credit, debit, and ATM cards and dispose of the pieces in separate places

10. DETER- Minimize Your Risk
Key Guidelines
Safeguard your purse and wallet
Carry only what you'll actually need when you go out
Don't carry your Social Security number or card, birth certificates, or passport
Verify a source before sharing information
Don't give out personal information over the phone, through the mail, or on the Internet unless you've initiated the contact

11. DETER- Minimize Your Risk
Key Guidelines
Be careful using the Internet
Only give out personal information when making a purchase and only on a secure site (indicated by a “https” or a picture of a lock after the URL or in the bottom right corner)
Use a credit card instead of a debit card when making online purchases
Watch for clues that might indicate a computer is infected with spyware
Many pop-up ads, unexpected toolbars or icons, keys that don't work, random error messages, and sluggish performance
If it is suspected that a computer is infected with spyware, immediately stop shopping, banking or doing any other online activity that involves sensitive information

12. DETER- Minimize Your Risk
Key Guidelines
Keep usernames and passwords safe and select intricate passwords
For passwords, choose a combination of letters, numbers, and symbols that are not easily identified
Use different usernames and passwords for different sites and change them regularly
Select security check questions with answers only you would know
Treat your trash and mail carefully
Shred all documents that you are discarding that contain personal information
A cross-cut shredder is safest
Deposit mail containing personal information in secured mailboxes

13. DETER- Minimize Your Risk
Key Guidelines
Protect your identity
Search your name occasionally to see if your name, picture, or other information is being used by someone else
Keep all documents containing personal information in a safe place where others cannot easily access them
Check credit reports
Check credit reports for errors at least once a year with all three reporting agencies
To stay constantly informed, request a credit report from one of the three reporting agency every four months

14. 3 Credit Reporting Agencies
Experian
PO Box 2104
Allen, TX
Report Order:
Fraud Hotline:
Equifax
PO Box
Atlanta, GA 30348
Report Order:
Fraud Hotline:
Trans Union
PO Box 390
Springfield, PA
Report Order:
Fraud Hotline:
To order a credit report from any of the three reporting agencies,
use the following website:

15. DETER Identity Theft Activity
Brainstorm how to minimize the risk of identity theft in regards to each information source
Share! 1. 2.

16. Watch for the following signs
DETECT Identity Theft
Early detection is key!
Watch for the following signs
New accounts or charges you didn’t make
Calls from collection agencies
Incorrect information on your credit report
Being denied credit when there is no reason to be
Missing bills or mailed statements

17. DEFEND - Recover From Identity Theft1.
Act immediately! 2.
Keep a detailed record of correspondence and phone records
Follow up all communication with letters sent via certified mail 3.
Contact the three major credit bureaus and request a free fraud alert be added to credit report
Fraud alert - warns creditors to verify an individual’s identity before issuing credit

18. DEFEND - Recover From Identity Theft4.
Close all accounts which have been tampered with or opened fraudulently 5.
File a police report with the local police 6.
File a complaint with the FTC:

19. Personal Liability Credit Cards
Truth in Lending Act limits liability for unauthorized charges to $50.00 per card
A letter must be received by the creditor within 60 days of the first bill containing the error
The dispute must be resolved within 90 days of the creditor receiving the letter

20. Personal Liability ATM and Debit Cards
The Electronic Funds Transfer Act provides protection
The amount a person is liable for depends upon how quickly the loss is reported
Within two days: maximum $50.00
Within sixty days: maximum $500.00
After sixty days a person may be liable for everything

21. Personal Liability Checks
Contact the financial institution and stop payment
Most states hold the financial institution responsible for losses of a forged check

22. Summary
IDENTITY THEFT occurs when someone wrongfully acquires and uses a consumer’s personal identification, credit, or account information
Once an identity thief obtains personal information, they can complete many malicious acts with the information
There are many ways to DETER identity theft
Early DETECTION is key
There are basic rules to follow in order to DEFEND against identity theft if it does occur