Title: IDENTITY THEFT
1IDENTITY THEFT
- A growing problem in todays digital age
2Review 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
3Have you ever seen this?
4What 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.
5Quote 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
6News Example
7How 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
8How 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
9How 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
10How 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
11How 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
12Social 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 ?
13Why 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
14If 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
15Worse 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!
16In the news
- Data on Nationwide Insurance Stolen
- Tax Forms Mailed With Soc. Sec. Numbers
- ID Thieves search databases
- TJMax
- PNCBANK