1. Protecting Yourself from Fraud Including Identity Theft Advanced Level

2. © Take Charge Today – August 2013 – Protecting Yourself From Fraud– Slide 2 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona 2.6.4.G1 Preview Today we will answer these questions:  How am I at risk for identity fraud?  What should I do if I’m a victim of identity fraud?  How can I protect my personal information? Use what you learn today to take action to keep your personal information safe. 2 ©2012 National Endowment for Financial Education | Lesson 2-5: Identity Fraud

3. © Take Charge Today – August 2013 – Protecting Yourself From Fraud– Slide 3 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona 2.6.4.G1 What’s in your wallet? Give yourself a point for each of these items listed below. __ Credit card (The actual number of cards) __ Debit card __ ID card with photo (school, employment) __ $5 bill __ Change (coins) totaling $2 or more __ Original Social Security card __ Picture of a close relative __ Computer password (The actual number of passwords) __ Bank/Credit Union ATM PIN number __ Library card ©2012 National Endowment for Financial Education | Lesson 2-5: Identity Fraud 3 __ Paycheck stub __ Bank or credit union deposit slip __ Any type of money-saving coupon __ Car keys __ Flash drive for computer __ Cell phone __ Driver’s license __ Membership card

4. © Take Charge Today – August 2013 – Protecting Yourself From Fraud– Slide 4 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona 2.6.4.G1 Theft or Fraud … Both are Trouble Your wallet is stolen Electronic files are hacked Your personal information is stolen from the trash Identity Theft Your account information is used for purchases New accounts are opened or insurance purchased using your personal information Your information is used for another crime Identity Fraud ©2012 National Endowment for Financial Education | Lesson 2-5: Identity Fraud 4

5. © Take Charge Today – August 2013 – Protecting Yourself From Fraud– Slide 5 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona 2.6.4.G1 How Does Fraud Occur? Failed Promises Accessing Personal Information Personal Infor- mation Name Address & Telephone Number Social Security Number Driver’s License Number Birthdate Credit Card Numbers Bank Account Numbers What can a scammer do if they gain access to your information?

6. © Take Charge Today – August 2013 – Protecting Yourself From Fraud– Slide 6 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona 2.6.4.G1 Teens are Targets Too!  10 percent of U.S. youth had someone else using their Social Security Number  Identity fraud is growing for minors. Teens 15 – 18 years old are the main target.  Fraud is often detected only when the victim applies for a loan or credit card in his or her own name. Source: Richard Power, Child Identity Theft, Carnegie Mellon CyLab Report ©2012 National Endowment for Financial Education | Lesson 2-5: Identity Fraud 6

7. © Take Charge Today – August 2013 – Protecting Yourself From Fraud– Slide 7 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona 2.6.4.G1 How Thieves Access Personal Information Stealing a purse, wallet, financial records, mail, etc. Diverting mail Skimming credit and debit card information Phishing for personal information via email Hacking a computer to install spyware How did the scammer access Lucy’s information?

8. © Take Charge Today – August 2013 – Protecting Yourself From Fraud– Slide 8 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona 2.6.4.G1 Protect From Fraud The Federal Trade Commission (FTC) recommends: Deter misuse of your information Detect when you have a problem Defend yourself from loses http://www.idtheftcenter.org/Financial/ deter-detect-defend-avoid-id-theft.html ©2012 National Endowment for Financial Education | Lesson 2-5: Identity Fraud 8

9. © Take Charge Today – August 2013 – Protecting Yourself From Fraud– Slide 9 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona 2.6.4.G1 7 Tips to Thwart Thieves  Keep sensitive information close to the vest.  Lighten up your wallet.  Never leave blanks on a charge slip.  Stick to secure web pages.  Shred ruthlessly.  Be computer safe by using firewalls, anti-spyware and anti-virus software.  Guard your Smartphone too! ©2012 National Endowment for Financial Education | Lesson 2-5: Identity Fraud 9

10. © Take Charge Today – August 2013 – Protecting Yourself From Fraud– Slide 10 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona 2.6.4.G1 Be on the Lookout!  Review your accounts and billing statements.  Sign up for email or text-messaging alerts.  Review your credit report (at least once a year). ©2012 National Endowment for Financial Education | Lesson 2-5: Identity Fraud 10

11. © Take Charge Today – August 2013 – Protecting Yourself From Fraud– Slide 11 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona 2.6.4.G1 More Ways to Protect Your Personal Information Don’t carry your Social Security Card Sign credit and debit cards with signature and “Please See ID” Memorize and use difficult PIN numbers Shred personal documents before discarding them Keep personal records in a secure location Deposit outgoing mail in a secure post office collection box Be careful of what personal information is posted on the Internet

12. © Take Charge Today – August 2013 – Protecting Yourself From Fraud– Slide 12 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona 2.6.4.G1 Take Action Unauthorized Charges  File a dispute  Contact the FTC Stolen Purse or Wallet  File a report with company  Call your cellphone company ©2012 National Endowment for Financial Education | Lesson 2-5: Identity Fraud 12 File a police report Place a Fraud Alert on your credit report with all three credit- reporting agencies Write your credit card companies Document everything Check your credit report in a few months

13. © Take Charge Today – August 2013 – Protecting Yourself From Fraud– Slide 13 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona 2.6.4.G1 Be Careful When Using the Internet Look for “https” or a picture of a lock Keep usernames and passwords safe Use a credit card when making online purchases Search for your name Once information is posted online, it can’t be taken back! Use privacy settings on social networking sites

14. © Take Charge Today – August 2013 – Protecting Yourself From Fraud– Slide 14 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona 2.6.4.G1 Practice electronic device safety Use updated anti- virus and anti- spyware software Watch for strange actions that may indicate spyware Do not click on links found in pop-up advertisements or suspicious email

15. © Take Charge Today – August 2013 – Protecting Yourself From Fraud– Slide 15 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona 2.6.4.G1 Credit and Debit Cards Credit Cards Maximum liability is $50 No liability if a lost card is reported before being fraudulently used No liability if the card number is used, but not the card itself Debit Cards Liability depends on how quickly the card is reported and depository institution policies Ranges from $0-unlimited! Use a credit card instead of a debit card for online purchases!

16. © Take Charge Today – August 2013 – Protecting Yourself From Fraud– Slide 16 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona 2.6.4.G1 Recognize Fraud Early Act Immediately if… A business that has taken your money won’t return your calls Unfamiliar or unrecognizable charges You are denied credit Mail is missing Errors in your credit report Could Lucy have recognized the theft earlier?

17. © Take Charge Today – August 2013 – Protecting Yourself From Fraud– Slide 17 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona 2.6.4.G1 If You Are a Victim Act Immediately Keep detailed records File a report with your local law enforcement Report to the appropriate federal agency (FTC) The Stop Fraud website will tell you which agency to report to and provide specific tips depending on the type of fraud What steps should Lucy take?

18. © Take Charge Today – August 2013 – Protecting Yourself From Fraud– Slide 18 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona 2.6.4.G1 Solve the Mystery Setting: 20 year class reunion is taking place at a luxurious mansion located in Yonkers. Plot: Lucy’s identity has been stolen Your Job: Listen carefully and take notes to help Lucy find the person who stole her identity

19. © Take Charge Today – August 2013 – Protecting Yourself From Fraud– Slide 19 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona 2.6.4.G1 Four Suspects… The inspector has identified 4 suspects in Lucy’s case Professor Plum Searched Lucy’s online banking website Mrs. White Searched through Lucy’s discarded mail Mrs. Peacock Guessed Lucy’s PIN number Colonel Mustard Searched through Lucy’s outgoing mail

20. © Take Charge Today – August 2013 – Protecting Yourself From Fraud– Slide 20 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona 2.6.4.G1 What could Lucy have done to minimize her risk?  Mail her documents from a secure post office location  Use a PIN number that is not easy to guess  Shred documents that contain personal information  Use secure websites and computers  Use privacy settings on social networking sites  Never give personal information out via email

21. © Take Charge Today – August 2013 – Protecting Yourself From Fraud– Slide 21 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona 2.6.4.G1 Solve the Mystery Answer Questions Correctly to Earn Clues!

22. © Take Charge Today – August 2013 – Protecting Yourself From Fraud– Slide 22 Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at the University of Arizona 2.6.4.G1 Who is Lucy’s Scammer? – Act 3 Make Your Guess! Professor Plum Searched Lucy’s online banking website Mrs. White Searched through Lucy’s discarded mail Mrs. Peacock Guessed Lucy’s PIN number Colonel Mustard Searched through Lucy’s outgoing mail