Identity theft and identity fraud


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Identity theft and identity fraud

  1. 1. Identity Theft & Identity Fraud Mark Cadman, Managing Partner, Broker
  2. 2. What is Identity Theft & Identity Fraud?It is: • A form of stealing • Someone pretends to be someone else • The phrase was coined in 1964 • Not really Identity Theft, it’s impersonation • Can be used against the living or deceased • 2009 reported 11,095 Canadian victims • Credit bureaus receive over 1,800 reports per month Mark Cadman, Managing Partner & Broker
  3. 3. How do thieves get your information? • Steal your mail • Dumpster diving • Internet • Skimming: obtaining credit card information at the point of sale. Usually dishonest employees. • Phishing: fraudulent internet sites - they look like familiar sites, however, they will attempt to obtain personal information • Use the camera in a cell phone to photograph someone’s credit card or ATM card while he or she is using an ATM machine or buying something in a store Mark Cadman, Managing Partner & Broker
  4. 4. Popular Scam “Bustout”• Thieves either steal or buy your information• Break into the bank’s system• Watch your account• When you purchase an airline ticket or book a vacation they will drain your account while you are in transit. Mark Cadman, Managing Partner & Broker
  5. 5. What Do They Want ?• Full name• Date of birth• SIN numbers• Address• Mother’s maiden name• Username and password• Driver’s license number• PIN numbers Mark Cadman, Managing Partner & Broker
  6. 6. What Do They Want?• Credit card information• Bank account numbers• Signatures• Passport number Mark Cadman, Managing Partner & Broker
  7. 7. What can the thief steal?• Access to your bank accounts• Open new bank accounts• Transfer bank balances• Apply for loans, credit cards and other services• Make purchases• Hide criminal activities• Obtain a passport or receive government benefits• Fund terrorist activities Mark Cadman, Managing Partner & Broker
  8. 8. How do you know if your identityhas been stolen? • Check your bank and credit card account frequently - either paper or online • Check your credit report regularly • Calls from collection agencies • Applied for a credit card and were turned down Mark Cadman, Managing Partner & Broker
  9. 9. What Can You Do?• Do not share personal information with people or organizations you do not know• Do not carry personal documents you do not need• Check credit card statements• Check bank accounts• Check with credit bureaus Mark Cadman, Managing Partner & Broker
  10. 10. What Can You Do?• Swipe your credit card yourself or never lose site of it• Shield your PIN at ATM’s• Memorize PIN numbers, never write them down• Know the billing cycles of your credit cards and debit cards• Shred your personal information• Report to credit agency to be added to their fraud list Mark Cadman, Managing Partner & Broker