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    Per.fin.7.03 p ptb Per.fin.7.03 p ptb Presentation Transcript

    • Objective 7.03 Understand ways to avoid identity theft.
    •  What is identity theft? How does one protect himself or herself from being a victim of identity theft? What should I do if I am victimized?
    •  A type of fraud  Illegal use of a consumer’s personal identification, credit, or account information  Information that thieves steal:  Date of birth  Bank and investment account numbers  Social Security number  Internet passwords  Credit card information, credit cardsvideo link- phishing scams
    • video link: how stuff works-id theft
    •  Resultsof identity theft for victims:  Financial losses of actual transactions  Loss of time and money trying to correct problem  Substantial stress dealing with long term actions to correct
    •  Technological Advances Increase Opportunities for Exposure to Identity Theft  Electronic funds transfers (EFT) enable financial transactions by computer  Direct deposits and withdrawals online  Pay-by-phone transfers  Point-of-sale transfers (debit card)  Online banking: Account numbers, date of birth, passwords in cyberspace
    •  Provides protection Electronic Funds Transfer for : Definition: carrying out financial transactions  ATM, debit cards, by computer rather than using checks or cash cash cards Examples: If loss is reported: direct deposit payroll check Automatic draft of monthly utility bill  Within 2 days=$50 maximum  Within 60 days, $500  Who is your best maximum, and advocate?  After 60 days, may be liable for all charges  YOU ARE!  It is important to pay attention to your financial transactions!
    • video link- problems & solutionsvideo link- credit card swipes
    •  Many businesses have  Other businesses use personal legitimate reasons for information, such as your obtaining personal name, address, credit card information number, and information  Payroll, human resources, about purchasing preferences personnel department and patterns for other  Social security, bank account #s purposes Some websites use online  Marketing other products profiling  Food Lion MVP card -send Security of websites coupons, special ads Cautions about use of the Social Security number  Partial # only printed on receipts, etc.  Do not carry in your wallet
    •  What personal • Making purchases information are you with a check, credit carrying in your or debit card wallet now? • Applying for a credit  Driver’s license card or loan  Social security card • Online or telephone  Credit cards shopping  Debit cards • Paying bills through  Health Insurance card the mail or online  Check book  Student ID card • Going to the doctor
    •  Obtaining personal information submitted on the Internet Posing as representatives of banks, Internet service providers, or government agencies to get one to provide personal information on the telephone or by email Looking over the shoulder when one is writing checks or using teller machines video link - ATM skimming device Using phones with cameras, videos to photo & re-enter PIN codes Using “ATM skimmers” to capture credit card number from the magnetic strip Using card readers to swipe a card and capture the card number
    •  Pass this info on: This has been verified by the FBI (their link is also included below). Please pass this on to everyone in your email address book. It is spreading fast so be prepared should you get this call. Most of us take those summonses for jury duty seriously, but enough people skip out on their civic duty that a new and ominous kind of fraud has surfaced. The caller claims to be a jury DUTY coordinator. If you protest that you never received a summons for jury duty, the Scammer asks you for your Social Security number and date of birth so he or she can verify the information and cancel the arrest warrant. Give out any of this information and bingo; your identity was just stolen. The fraud has been reported so far in 11 states, including Oklahoma , Illinois , and Colorado , AZ and more. This (swindle) is particularly insidious because they use intimidation over the phone to try to bully people into giving information by pretending they are with the court system. The FBI and the federal court system have issued nationwide alerts on their web sites, warning consumers about the fraud. Check it out here: http://www.fbi.gov/page2/june06/jury_scams060206.htm And here: http://www.snopes.com/crime/fraud/juryduty.asp Yep! Its true
    •  Good Afternoon – It’s a good time to remind everyone about SCAM or PHISHING email. Phishing refers to the process of tricking recipients into sharing sensitive information with an unknown third party. Those who PHISH make an email appear legitimate. Security Reminders- 1) CCS does not send out email asking for private information (i.e., social security numbers, credit card numbers, etc…). Sometimes we have “vendor” looking logo email asking for the end user to provide information. If you receive, delete the email. 2) CCS does not send out email regarding changing of a password. Delete the email. 3) Never share your password. 4) When in doubt about whether or not to respond to an email, DON’T until you have verified legitimacy. Ask a technology facilitator or call the IT Help Desk (704- 786-9805, ext. 2). Dr. Katherine Propst Assistant Superintendent Cabarrus County Schools
    •  Stealing wallets or purses containing identification information, credit cards, or checkbooks Stealing mail, which may include bank, credit card, payroll, and tax information Completing a change of address card to have mail sent to another address Going through trash from homes/businesses to find identification, bank, or credit information Obtaining personal information from one’s home mail or body…theft
    •  Make charges to your accounts and credit cards Open new credit accounts to make purchases
    •  To sign up for services such as telephone, cellular telephone, or wireless service, and utilities  Get a job using your information Open a bank account and write “bad”  Rent an apartment checks  Obtain cash with bank  The predator is stripping cards whatever money is in  Obtain your tax your account! refund from IRS Write checks on one’s bank account video link- identity theft in Florida
    • Shred documents with personal information before discarding!
    •  Report missing credit cards and identifying information to three credit-reporting agencies Report missing credit cards to credit card company Verify your credit card charges upon receipt of your card
    •  Contact your bank if you are missing ATM cards or checks Reconcile your bank statement to verify all withdrawals are for your authorized transactions
    •  Report missing Social Security numbers or card to the Social Security Administration Seek other help from the Federal Trade Commission and the Identity Theft Resource Center Don’t carry your SS card in wallet!
    •  Issue a “stop payment” if checks or credit cards are lost or stolen When establishing accounts at financial institutions, make sure they are insured by agencies that protect deposits in case the institution fails  Federal Deposit Insurance Corporation (FDIC)  Savings Association Insurance Funds (SAIF)  National Credit Union Administration (NCUA)
    •  Definition: Method by which individuals can avoid receiving unsolicited product  I want to “OPT OUT”… or service info; usually associated with telemarketing, e-mail  To remove your phone # from marketing, online marketing telemarketing lists use National or direct mail Registry or state registries  https://www.donotcall.gov/ Make an informed choice about sharing personal  To remove your personal information---“opt out” information from financial institutions/insurance company lists Before clicking “I agree” -  Individual company privacy Read your online site statements have phone #s to agreement, you often give up contact your right to “opt out” and your information is broadly circulated to marketers
    • •Use anti-virus andanti-spyware softwareand update themregularly•Do not click on links •Set web browserfound in pop-up ads security to medium-high or high•Only downloadsoftware from trusted •Keep operating systemwebsites and web browser software updated •Clear hard drives before discarding, selling, or trading in computer equipment
    • •When shopping online, Look for “https” or a picture of a lock after theURL or in the bottom right hand corner indicating the site issecure•Enter the website address yourself rather than following a link froman email or internet advertisement•Use a credit card instead of a debit card when making onlinepurchases
    • •Do not give out personal informationfrom unsolicited contacts •Unsolicited = callers who contact you•Do not give out any personalinformation unless making a purchase(when you contacted company)•Choose security questions withanswers only you would know
    • • Watch for clues that might indicate a  If it is suspected that a computer is infected computer is infected with with spyware. spyware, immediately:• Examples:  stop shopping, banking or • a stream of pop-up ads doing any other online activity that involves user • random error messages names, passwords, or other • sluggish performance sensitive information when opening programs  confirm that the security or saving files software is active and current  run software to scan the computer for viruses and spyware, deleting anything the program identifies as a problem
    • Should the password be Email, Debit Cards, Banking “I don’t know”? documents, other Keep your username and password protected Change passwords Create a Password  Combination of words, numbers, and symbols  UNIQUE  Upper and Lower Case  Cannot be easily found Do not use obvious names, birthdays, addresses, SS# etc.
    •  When entering your Password in public places:  “Securely” type in PIN # at  ATM  Point of Sale (POS) register  Public Online outlets How does predator get victim’s information?  Phones with video cameras can replicate your keystrokes  “Nosy” customers in line  Dumpster Diving Predatoroften works with partner who “lifts” debit card for use with password later
    •  YOU are your own best ADVOCATE!  Verify your credit card statement charges  Reconcile your bank account  KNOW WHAT YOU SPEND!  Request credit reports from credit bureaus
    •  Respond immediately Keep a record of related phone calls, letters, and Emails Request a “fraud alert” with three major credit bureaus  Equifax  TransUnion  Experian Renew “fraud alert” every 90 days with credit bureaus
    •  Obtain a credit report from each major credit bureau and check for accuracy Close all accounts that have been involved in the theft Open new accounts with NEW unique passwords and new PIN numbers File a police report
    •  Federal Trade Commission (FTC)  oversees compliance with these acts Financial Services Modernization Act (1999)  requires companies involved in financial activities to send privacy notices to customers Children’s Online Privacy Protection Act (1998)  Requires websites directed to children under thirteen to post their privacy policy, parental consent and ability to monitor is required Link to Childrens online privacy law
    •  New industry booming to assist consumers with themselves from this fastest growing crime
    •  Why do you think identity theft grew significantly during the recession?  Desperation  No income to pay bills  Time Availablevideo link: Stolen_Futures - 10 minute- if time allows