IDENTITY THEFT

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IDENTITY THEFT

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Believed that over 9 million Americans have been victims ... Tax Forms Mailed With Soc. Sec. Numbers. ID Thieves search databases. TJMax. PNCBANK ... – PowerPoint PPT presentation

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Title: IDENTITY THEFT


1
IDENTITY THEFT
  • A growing problem in todays digital age

2
Review from yesterday
  • What is a white collar crime?
  • Crime committed by person of respectability or
    higher social class usually for money or property
  • What is insider trading?
  • Selling or buying stock, or telling others to
    sell or buy stock, based on confidential
    knowledge of companys actions
  • Why do people commit white collar crimes in
    general?
  • Greed, fear of loss, or simply opportunity
  • What is an issue with white collar crime in
    America?
  • Many go unnoticed, and usually receive small
    punishments

3
Have you ever seen this?
4
What is identity theft?
  • Defined as when means of identification have
    been stolen or used for unlawful purposes
  • Generally when someone uses your information to
    steal money or to make purchases
  • Believed that over 9 million Americans have been
    victims
  • Total value of ID thefts in 2006 56.6 billion
  • Believed that someones identification is stolen
    every 79 seconds in America.

5
Quote from thieves
  • On a good day I could make 5,000 in cash and
    another 8,000 in merchandise
  • CBSNEWS.COM
  • In one extreme case of identity theft, the
    criminal incurred over 100,000 of credit card
    debt, bought a house, numerous handguns,
    motorcycles, and established a cell phone account
    which he used to call and taunt his victim.
  • US Department of Justice website

6
News Example
7
How identity thieves get personal info
  • Stealing wallets or purses
  • Going through garbage
  • Going through mail (federal offense)
  • Filling out change of address forms for you
  • Looking at employment records
  • Computer hacking
  • Inside sources

8
How thieves often use your info
  • Make purchases online or over phone
  • Open new credit card accounts
  • Establish phone services
  • Open bank accounts
  • Counterfeit checks or debit cards
  • Buy or lease a car

9
How to prevent - Mail
  • Pay attention to when you should be getting bills
  • Call company if bills dont show up around time
  • Get a secure/lockable mailbox
  • Call post office or get neighbor to collect mail
    when gone

10
How to prevent - Online
  • Never ever use a debit card online, credit OK
  • Avoid easily guessed passwords
  • Dont give SS unless absolutely necessary
  • Make sure to log off important sites

11
How to Prevent
  • Know whats in your wallet/purse
  • Dont need
  • Heath insurance card
  • Pay stubs
  • Bills
  • Social security card
  • Never write your SS on a check
  • Make sure ATM machine is legit
  • Shred financial documents before throwing away

12
Social Security
  • Should only be required by employers, financial
    groups, and government agencies
  • If told to give it, ask person
  • Why do you need it?
  • How will you use it?
  • What law requires its disclosure?
  • What happens if I dont provide it?
  • Can I see your manager, because frankly you are a
    worthless, probably underpaid and disgruntled
    employee who could care less about my SS ?

13
Why businesses want your info
  • To process orders
  • To create a profile on you to keep you aware of
    products, discounts, ect.
  • To sell to other companies and businesses
  • Almost all banks do this, hence reason they are
    free

14
If youre a victim
  • Contact all creditors and let them know situation
  • Deactivate as necessary
  • Notify places in writing as well
  • File police reports
  • Contact all 3 credit bureaus fraud departments
  • Equifax
  • Experian
  • Trans Union

15
Worse Case Scenario
  • Someone using your identity commits a crime,
    resulting in arrest, or record in your name
  • Denial or loss of job or promotion
  • Inability to secure credit
  • May not be able to get a loan, apartment, credit
    card, house, car, ect.
  • As long as you act fast, everything can get
    cleared up!

16
In the news
  • Data on Nationwide Insurance Stolen
  • Tax Forms Mailed With Soc. Sec. Numbers
  • ID Thieves search databases
  • TJMax
  • PNCBANK
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