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Identity theft Prevention

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Want to educate your clients on Identity Theft prevention? Take a look at this great, 100% unique ID Theft prevention presentation to help you provide great value to your client base. The ...

Want to educate your clients on Identity Theft prevention? Take a look at this great, 100% unique ID Theft prevention presentation to help you provide great value to your client base. The presentation lasts about 40-50 minutes and will educate your clients on exact steps they can take to prevent identity theft.

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  • Today we’re going to discuss protecting your identity from being used by theives and hackersWe’ll discuss:What ID theft is and the dozens of ways that it can happen to youSteps you can take to protect yourselfWhat to steps to take if your ID is stolen
  • Stolen Wallets:People carry their entire lives in their wallets and pursesEverything you need to identify a person is generally carried on themCCs, SS cards, license, photos, bills, keys, etcMail Pilfering:Your mailbox is an ID theifs toy boxBillsCC offers (just fill in the blanks)
  • Social Media:Practically inviting your ID to be stolenYounger generations are worse about sharing too muchPutting all of your contact info, address, etcID theft at work
  • Online ID theft and hacking at an all time highIn the last 2 years alone we’ve seen some of the largest companies in the world hackedExposing millions of customers informationSSNCredit Card numbersNames, address, phone numbers, etcYour information is everywhere and nobody can protect it 100%
  • Statistics will tell you that over half of the people in this room have had some part of their identity stolen or misused at some point in their livesSocial media making it increasingly easier to assume someones identity
  • Imagine being arrested in your home town for a crime you committed in a town you’ve never been toAnyone seen the comedy movie “Identity Thief?” It’s a funny take on an extremely serious and all too common problem
  • LA has a greater than average risk of Identity Fraud compared to most of the nationHas been increasing year after year
  • If you do nothing, there’s nothing to stop ID thieves from robbing you again
  • Thieves are constantly coming up with new ways to assume someones identity
  • Easy to follow steps and strategies that you can implement RIGHT NOW to reduce your chances of ID theft
  • Just because you can’t imagine it happening in your home, neighborhood or workplace, doesn’t mean it cantHow many victims do you think assumed “this would never happen in my…. Office, neighborhood…” and ended up with their ID stolen?
  • Secured website protect and encrypt the data being sent from your computer to the website’s serverUnsecured websites leave that data less secure, at higher risk of being obtained by hackers
  • If you 100% must use your SSN online, ensure the site is secured and you’re using a secured PCYou password should not contain ANYTHING that may be personally identifyingNo namesStreets or citiesTry using a bible verse (containts upper and lower case letters and numbers)Incorporate symbols, non-sequential numbers/letters When changing passwords, change it COMPLETELY!!! Don’t reuse even a small portion of your previous password
  • If retired, keep a low balance household operating account at one institution and bulk of cash in savings at anotherOnly allow withdrawals in person (do not setup online banking)
  • Unknown charges, even as small as $1 could be the result of currency exchange fees for transactions made in foreign countries using your accountsSmall amounts are commonly used by hackers to test the waters on your account… verifies that they have access, ensures they go unseen Smaller dollar amounts are more likely to be ignored right, would you notice $1000 missing or $10 missing first?
  • Over the last 5-10 years different ID theft prevention services have popped up Mostly reactive services – not going to catch them and immediately stop them Your insurance companies may offer these services for a small fee Credit unions/banks sometimes offer as well
  • Based on LifeLock (most well know protection service)Almost all services offered can be handled by youNo free alternative to the $1 million guarantee, potential that guarantee won’t be backed upRob Carey, lawyer representing consumers in class action vsLifelock – “fine print in guarantee is limiting… almost worthless…”
  • Lots of talk about whether or not LifeLock type ID theft services are worth the monthlyThey don’t offer services that you cannot do for yourself, they simply make the process hassle freeAnything they can do (aside from reimbursement) you can do for yourself
  • You can setup fraud alerts by visiting ANYONE of the three credit bureau’s websitesFiling a fraud alert with one bureau files a fraud alert with all of themNo need to do it at each bureauSimply visit their website, click on fraud alerts and submit a report to the bureau
  • You can setup fraud alerts by visiting ANYONE of the three credit bureau’s websitesFiling a fraud alert with one bureau files a fraud alert with all of themNo need to do it at each bureauSimply visit their website, click on fraud alerts and submit a report to the bureau
  • Removing your name from pre-approved credit card mailings can GREATLY REDUCE your risk of ID theftOptions available to be removed forever or to be removed for 5 years (works great if you occasionally want to get mail so you don’t feel lonely)Using this website removes you from all of the 4 bureau lists
  • Avoid using websites like FreeCreditReport.com and others that claim to offer a free report, they don’t, they want your CC information and will bill you the second your trial endsAnnualCreditReport.com is the official credit reporting website to check your free credit reportCan also request a report by phone or by mail
  • Losing your wallet or personal information can be a terrifying experienceReducing what you carry in your purse or wallet (social security, all of your CC’s, bank account info, checks etc) reduces the stress if it gets misplacedImmediately contact all of your banks and CC providers the moment your realize that your wallet or purse has been lost or stolenCancel all of your credit/debit cards and request a brand new card and numberHave all insurance cards reissuedRequest your duplicate drivers license on the DMV’s website or at their locationImmediately cancel your checking account
  • Every minute you wait could mean more of your money and information can be stolen

Identity theft Prevention Identity theft Prevention Presentation Transcript

  • Is Someone Using Your Identity?
  •  What is Identity Theft?  How Can We Protect Ourselves  What if it happens to me?
  • A Terrifying New Reality
  • You are 25 times more likely to become a victim of ID theft than you are to be involved in a car accident According to The FTC
  • You are 40 times more likely to have your ID stolen than to have your home burglarized. According to The FTC
  • Someone’s identity is stolen 19,178 times per day, 799 per hour, 13.3 per minute.
  •  12% of identity theft victims end up with a wrongful criminal record  15% of all identity theft crimes are committed by someone close to you – friends & family  You will spend up to 500 hours over 2 years, and over $3,000 just to restore your identity
  • How Does Identity Theft Happen?
  •  Stolen Wallets: ◦ Driver’s License ◦ Credit and Debit Cards, Bank Account Info ◦ Auto Insurance and Registration info  Pilfered Mail  Computer Viruses  Phishing & Social Engineering ◦ Fraudulent websites ◦ Email ◦ Phone calls
  •  Social Media Accounts ◦ Facebook, Twitter, etc  Financial Records  Health Records  Employee/Employer Records  Phone Scams
  • Your personal information is stored in databases. Millions of data files are lost or stolen every year.  TJMaxx (45.7 million Credit/Debt Card #’s)  Nissan (Employee Information Heist)  Yahoo! (Over 400,000 Emails Hacked)  South Carolina Credit Reporting (Tax Info)  Walmart (Credit Card Info & Credentials)  Visa & Mastercard (Stole millions of customer’s info)  Bank of America (1.2 million bank account files) Just a few of the hundreds of major security breaches in 2012 alone.
  • Since January of 2005 over 244 million personal records were lost or stolen from major companies and agencies nationwide:  Social Security Numbers  Driver’s License Info  Date of Births  Bank Account Numbers 55% of the US population has had some type of personal information stolen.
  •  Take out loans in your name  Obtain credit cards/make purchases  Open wireless phone accounts  Open bank accounts in your name  Cash your retirement accounts, 401k’s, etc  File bankruptcy in your name  Apply for medical benefits in your name  Apply for Social Security benefits in your name
  •  Obtain driver’s license in your name, while using their picture  Get a job and file fraudulent tax returns in your name  Commit crimes and provide your name when being placed under arrest
  •  Only 1 in 700 identity thieves are ever apprehended  If they aren’t caught, they are able to continue to reuse your identity to commit crimes and make purchases anytime
  • Preventing ID Theft
  • There is no way to bee 100% safe from Identity Theft
  • There are steps you can take to make it more difficult for your identity to be stolen.
  •  Avoid Your Curbside Mailbox ◦ Drop off at Post Office ◦ Use Postal Services Boxes (Locked Boxes)  Avoid “Outgoing Mail Trays” at work  Don’t write personal info on mail  Hold your mail when out of town  Shred ALL credit card offers and “junk mail” ◦ Promotional mailing labels ◦ Addressee pages from magazines ◦ Prescription labels
  •  Only buy online from encrypted sites ◦ Websites without encryption expose your info! ◦ Look for https:// in a websites URL & Lock icon
  •  Don’t use your SSN online  Use strong passwords ◦ At least 8 characters ◦ Combination of letters, numbers and symbols ◦ No personal information  Never use names, birthdates, street names, pets, etc  NEVER click on pop-up ads  Go low-tech whenever possible, use cash
  •  Monitor your credit reports at all 3 bureaus ◦ At minimum once per year ◦ Entitled to 1 free credit report each year  Shred financial statements, bills and credit card offers before throwing them away  Reduce the personal information & credit cards you carry on you  Cancel all unused cards within 6 months  Remove your name from mailing lists
  •  Actively Monitor your bank statements and purchases  Don’t keep your money in one institution  Know what date your statements arrive ◦ Be on the lookout for late statements, find out why  Pick up new checks in person  Utilize direct deposit for payroll  Be cautious of bank calls to “update records”  Add a security question to your accounts ◦ Asked before any phone withdrawals are made
  •  Check account balances often ◦ Never ignore unknown charges, no matter how small  Could be currency exchange fees  Attempts to verify hacker ability to hijack your account  Check for recycled account numbers ◦ Potential for unauthorized access ◦ Refuse to accept a recycled account number
  •  LifeLock  ProtectMyID  Trusted ID  Equifax  ID  Watchdog  Identity Guard
  •  Credit Monitoring Services  Credit Bureau Fraud Alerts ◦ Reactivated every 90 days  Remove your name from junk mail lists  Request your credit reports  WalletLock services ◦ Reports missings credit cards, lost or stolen wallets and personal information ◦ Cancels accounts and requests new cards for you  Up to $1,000,000 in ID theft insurance
  •  ID Theft Protection services are not a scam  Removes hassle from ID theft protection  Low monthly cost  Potential for reimbursement All of these steps can be easily taken on your own!
  • Fraud alerts set off red flags to retailers and creditors, urging them to be cautious.  Not a reliable means of preventing ID theft  Can be done online at any credit bureau ◦ Fill out your information and press submit  Equifax.com  Experian.com  Transunion.com  Renew every 90 days ◦ Mark down your renewal dates on your calendar
  • Fraud alerts set off red flags to retailers and creditors, urging them to be cautious.  Not a reliable means of preventing ID theft  Can be done online at any credit bureau ◦ Fill out your information and press submit  Equifax.com  Experian.com  Transunion.com  Renew every 90 days ◦ Mark down your renewal dates on your calendar
  • Get your name removed from junk mail lists & pre-approved credit card lists. OptOutPrescreen.com  Official opt-in/opt-out request website ◦ Opt out for 5 years or permanently ◦ Option to opt-in (if you really want more mail) ◦ Removes your name from all 4 bureau lists
  • Entitled to ONE free report annually from all 3 bureaus  Experian, Equifax & Transunion AnnualCreditReport.com  Official Credit Report Request Website  Free report every 12 months  Request online, by phone or by mail
  • Cancel accounts and reissue credit/debit cards in the event that your wallet is lost or stolen.  Cancel all of your Credit/Debit Cards  Contact insurance agent – reissue cards  Order duplicate driver’s license online  Contact your bank to cancel checking account
  • What do I do now?
  •  Act Quickly! ◦ Waiting can make the situation worse! Follow these steps immediately: 1. Place an Initial Fraud Alert 2. Order Your 3 Credit Reports 3. Create Identity Theft Report
  • Place an initial fraud alert on your credit report Contact ANY ONE of the three credit reporting companies:  Equifax: 800-525-6285  Experian: 888-397-3742  TransUnion: 800-680-7289 Remember: You only need to contact one
  • Immediately Order Your Credit Reports  Contact all 3 credit reporting companies  Obtain a new credit report ◦ ID theft victims obtain their reports for free  Analyze your reports for fraudulent actions ◦ Check for errors with existing accounts
  • Create Your Identity Theft Report  Gives you rights to help you recover quickly  File a complaint with the FTC ◦ www.FTC.gov or 877-438-4338 ◦ Becomes your FTC Affidavit  File a Police Report
  • Your FTC Affidavit and police report create your Identity Theft Report Keep paper copies of everything during this process for your records