Kelly Herd Rebecca Hofeling

IDENTITY THEFT AND PROTECTION

Communication 2500

WHAT IS IDENTITY THEFT?

The Identity Theft Resource Center defines Identity theft as "a crime in which an impostor obtains key pieces of PII or personally identifying information such as driver's license numbers, social security numbers, for their own personal gain".• Account take over

• Application Fraud (New Credit Cards, Loans, Apartments, Utilities, Car purchases)

• Criminal Identity Theft

"Identity Theft." Investopedia. N.p., n.d.

Web. 23 Nov. 2013.

STATISTICS

• Percent of U.S households that reported some type of Identity Fraud: 7%

• The average dollar amount charged in Identity Theft: 92,893

• Average number of checks written: 74.6

• The average number of credit card applications approved through Identity Theft: 8.4

• Over 70 % of the time you’ll need an attorney to resolve these issues.

A professional thief can assume your identity in just a few hours, but it can take years for you to repair the damage and restore your good name.

“Identity Theft / Fraud Statistics." Statistic Brain RSS. U.S. Department of Justice,

Javelin Strategy & Research, 18 June 2013. Web, 24 November 2013

WHAT HAPPENS TO VICTIMS?

• Denial of credit and loss of credit rating

• Financial Loss

• Harassment by bill collectors

• Loss/denial of employment

• Criminal Record and or arrest

• IRS problems

• Garnishment

• Denial of drivers license renewal

• Denial of public benefits

• Denial of medical care

"Identity Theft Resource Center -."Identity

Theft Resource Center. N.p., n.d. Web. 23 Nov. 2013.

FINANCIAL

• Bank accounts cleaned out

• Credit ruined

• Opening of various accounts

• Taking out loans

• Writing bad checks

On average, victims of Identity theft spend 500 hours and more than $3,000 repairing the damage.

"Identity Theft Resource Center -." Identity

Theft Resource Center. N.p., n.d. Web. 23 Nov. 2013.

FINANCIAL

In addition to the immediate monetary loss, you could also be denied employment when someone has used your identity and created a background you are unaware of.

"Identity Theft." Identity Theft. National Museum of Crime & Punishment, n.d.

Web. 15 Nov. 2013.

EMOTIONAL

• embarrassment

• sadness

• helplessness

• anger

• isolation

• betrayal

• rage

• suicidal feelings

"Identity Theft Resource Center -." Identity Theft Resource Center. N.p., n.d.

Web. 23 Nov. 2013.

CRIMINAL

Criminal identity theft is usually not discovered until the victim

• Fails a criminal background check;

• Cannot renew his or her driver’s license;

• Receives notice of outstanding citations or warrants; or Is arrested.

"Identity Theft Resource Center -." Identity Theft Resource Center. N.p., n.d.

Web. 23 Nov. 2013.

ECONOMICAL IMPACT

Identity thefts have had a intense impact on the country's economy. It not only effects individuals but businesses as well.

• The FTC estimates that businesses have lost more than $50 billion

• Businesses have spent more than 1.5 billion in order to avoid losses and resolve consequences of Identity theft

• Losses have resulted in lost jobs and decline of financial stability.

"Consumer Information-Identity Theft."

Federal Trade Commission. N.p., n.d. Web. 25 Nov. 2013.

CONCLUSION

Identity theft is considered the fastest growing crime in the United states. If you are a victim you not only have the ramifications that have been listed but a lot of times have little or no help from the authorities, have difficulty working with the credit industry, and often lose many opportunities due to the wreckage of your good name.

There are many people that have access to our information and many different methods are used to obtain that personal information. The most important thing we can do is guard our personal information so that you are not the one that is impacted by this crime."Identity Theft." Identity Theft.

National Museum of Crime & Punishment, n.d.

Web. 15 Nov. 2013.

QUIZ QUESTIONS#1 What percent of U.S households have reported some type of Identity Fraud?

Answer: 7%

#2 On average, how many hours do victims of Identity theft spend repairing the damage?

Answer: 500 hours.

#3 True or False: Criminal identity theft is usually not discovered until the victim, fails a criminal background check, cannot renew his or her driver’s license, receives notice of outstanding citations or warrants, or Is arrested.

Answer: True

#4 How much have businesses have spent in order to avoid losses and resolve consequences of Identity theft?

Answer: Over $1.5 Billion