Identity TheftMystery of The Stolen IdentityTake Charge of Your Finances

1.3.1.G1 Family Economics & Financial Education Revised May 2010 Consumer Protection Unit Identity Theft Slide *Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona

Solve the MysteryUnlucky Lucy is one of the many victims of identity theft

1.3.1.G1 Family Economics & Financial Education Revised May 2010 Consumer Protection Unit Identity Theft Slide *Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona

Identity TheftIDENTITY THEFT occurs when someone wrongfully acquires and uses a consumers personal identification, credit, or account information

The FTC is a government agency that focuses on consumer protection

1.3.1.G1 Family Economics & Financial Education Revised May 2010 Consumer Protection Unit Identity Theft Slide *Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona

Identity Theft StatisticsAccording to the Federal Trade Commission, how many identity theft complaints were filed in 2008?313, 982 identity theft complaintsAccording to the U.S. Department of Commerce, what percentage of identity theft victims in 2008 were under the age of 20?7% of identity theft victims were under 20 years of age

1.3.1.G1 Family Economics & Financial Education Revised May 2010 Consumer Protection Unit Identity Theft Slide *Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona

10% of identity theft victims during 2005 reported personal expenses of more than $1200 11% of victims in 2005 reported that it took 3 or more months to resolve the problems associated with identity theft after they discovered that their information was being misusedIdentity TheftVictims may have to spend time and money trying to fix the problems that are caused by thieves

1.3.1.G1 Family Economics & Financial Education Revised May 2010 Consumer Protection Unit Identity Theft Slide *Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona

Personal Information

Identity thieves try to obtain personal information from victims in order to steal their identities.Personal Information

1.3.1.G1 Family Economics & Financial Education Revised May 2010 Consumer Protection Unit Identity Theft Slide *Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona

Personal Information

Drivers LicenseSocial Security Card Checkbook

Credit and Debit CardsInsurance Cards

1.3.1.G1 Family Economics & Financial Education Revised May 2010 Consumer Protection Unit Identity Theft Slide *Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona

Personal Information

Making purchases with a check, credit or debit cardApplying for a credit card or loanOnline or telephone shoppingPaying bills through the mail or onlineGoing to the doctor

1.3.1.G1 Family Economics & Financial Education Revised May 2010 Consumer Protection Unit Identity Theft Slide *Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona

Solve the MysteryListen carefully and take very accurate notes to help Lucy find the person who stole her identity

1.3.1.G1 Family Economics & Financial Education Revised May 2010 Consumer Protection Unit Identity Theft Slide *Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona

Colonel MustardSearched through Lucys outgoing mailHow Do They Do It?The inspector has identified 4 suspects in Lucys case.Professor PlumSearched Lucys online banking websiteMrs. WhiteSearched through Lucys discarded mailMrs. PeacockGuessed Lucys PIN number

1.3.1.G1 Family Economics & Financial Education Revised May 2010 Consumer Protection Unit Identity Theft Slide *Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona

Thieves obtain personal information through a variety of methods:Stealing - Information is taken from a purse or wallet, personnel records from a workplace, tax information, bank or credit card statements, or pre-approved credit card offers from the mail.

Diverting Mail - Thieves can complete a change of address form and have the victims bills and statements mailed to a different location.

Dumpster Diving - Personal information is discarded and thieves remove it from the trash.

Skimming - Thieves attach a device to card processors to steal credit and debit card informationHow Do They Do It?

1.3.1.G1 Family Economics & Financial Education Revised May 2010 Consumer Protection Unit Identity Theft Slide *Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona

Methods continued...Phishing - Thieves use a form of electronic communication (usually email) to pretend to be a company or depository institution in order to get the victim to give up their personal information.

Pretexting - Thieves use false pretenses to obtain your personal information from financial institutions, telephone companies, and other sources.

Spyware - Software installed on the victims computer, without their knowledge or consent, that monitors internet use, sends pop up ads, re-directs the computer to other sites, and tracks key strokes.

Hacking - Information is stolen by breaking into a computer system.How Do They Do It?

1.3.1.G1 Family Economics & Financial Education Revised May 2010 Consumer Protection Unit Identity Theft Slide *Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona

What Identity Thieves Do With InformationThe thief has been using Lucys credit card to make their own purchases

1.3.1.G1 Family Economics & Financial Education Revised May 2010 Consumer Protection Unit Identity Theft Slide *Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona

Apply for a new drivers licenseOpen new bank accountsApply for credit cards or store credit accountsObtain cash with bank cardsGet a jobRent an apartmentTake out student loansFile for bankruptcyWhat Identity Thieves Do With Information

1.3.1.G1 Family Economics & Financial Education Revised May 2010 Consumer Protection Unit Identity Theft Slide *Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona

Preventing Identity TheftMany actions can be taken to help minimize the risk of identity theft

Mail her documents from a secure post office locationUse a PIN number that is not easy to guessShred documents that contain personal informationMake sure to log out of any online banking sitesNever give personal information out over the phone or email

1.3.1.G1 Family Economics & Financial Education Revised May 2010 Consumer Protection Unit Identity Theft Slide *Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona

Preventing Identity Theft

Wallets and PursesOnly carry what is necessary- do NOT carry social security cards, passports, or birth certificates

Do not hang purses from a chair in a public place

Use purses that close securely

1.3.1.G1 Family Economics & Financial Education Revised May 2010 Consumer Protection Unit Identity Theft Slide *Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona

Preventing Identity Theft

Credit and Debit CardsClose unwanted accounts in writing and by phone and cut up the card

Memorize the PIN number and do not use easily accessible numbers (date of birth, address, etc.)

Sign back of cards with signature &Please see ID

Do not give out account numbers unless making a transaction that is initiated by the consumer rather than responding to telephone or e-mail solicitations

Check statements regularly for any errors or signs of fraudulent use

1.3.1.G1 Family Economics & Financial Education Revised May 2010 Consumer Protection Unit Identity Theft Slide *Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona

Preventing Identity Theft

Credit Card OffersShred credit card offers and applications. *a cross-cut shredder is safest because it is more difficult to reassemble

Cut up or shred pre-approved credit card offers that are not used

Opt-out of pre-screened credit offers for five years at www.optoutprescreen.com

1.3.1.G1 Family Economics & Financial Education Revised May 2010 Consumer Protection Unit Identity Theft Slide *Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona

Preventing Identity Theft

MailShred all credit card offers, bills, statements, and anything else that contains personal information

Deposit outgoing mail in secure post office collection boxes

Contact the post office and request a vacation hold when unable to pick up mail

Do not leave mail in an unsecured mailbox overnight or for a long period of time

1.3.1.G1 Family Economics & Financial Education Revised May 2010 Consumer Protection Unit Identity Theft Slide *Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona

Preventing Identity Theft

EmailKeep your username and password protected

Use a password that is a combination of words, numbers, and symbols and cannot be easily found (do not use names, birthdays, addresses, etc.)

Verify the source of an email asking for personal information by calling the company to confirm the email is from them

1.3.1.G1 Family Economics & Financial Education Revised May 2010 Consumer Protection Unit Identity Theft Slide *Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona

Preventing Identity Theft

TelephoneVerify the source of any phone call asking for personal information by calling the company to confirm the phone call is from them and not a potential identity thief using their name. Use the phone number listed on your account statement or in the telephone book.

1.3.1.G1 Family Economics & Financial Education Revised May 2010 Consumer Protection Unit Identity Theft Slide *Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona

Preventing Identity Theft

Computer SecurityUse anti-virus and anti-spyware software and update them regularly

Do not click on links found in pop-up ads

Only download software from trusted websites

Set web browser security to medium-high or high

Keep operating system and web browser software updated

Do not give out any personal information unless making a purchase

Choose security questions with answers only you would know

1.3.1.G1 Family Economics & Financial Education Revised May 2010 Consumer Protection Unit Identity Theft Slide *Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona

Preventing Identity Theft

Computer Security- ContinuedWatch for clues that might indicate a computer is infected with spyware. such as a stream of pop-up ads, random error messages, and sluggish performance when opening programs or saving files.If it is suspected that a computer is infected with spyware, immediately stop shopping, banking or doing any other online activity that involves user names, passwords, or other sensitive information. Then, confirm that the security software is active and current and run it to scan the computer for viruses and spyware, deleting anything the program identifies as a problem.

1.3.1.G1 Family Economics & Financial Education Revised May 2010 Consumer Protection Unit Identity Theft Slide *Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona

Preventing Identity Theft

Social Networks, Blogs, & Chat RoomsConsider joining only sites that limit access to posts to a defined group of users. Make sure you know how the site access works before joining. Dont join sites that allow anyone to view postings.

Never post your full name, Social Security Number, bank or credit card information, address, or phone number.

Avoiding posting information that could be used to indentify you offline such as school, work, or other locations where you spend time.

1.3.1.G1 Family Economics & Financial Education Revised May 2010 Consumer Protection Unit Identity Theft Slide *Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona

Preventing Identity Theft

Social Networks, Blogs, & Chat Rooms- ContinuedUse privacy settings to restrict who can access personal sites

Remember that once information is posted online, it cannot be taken back. Even if information is deleted, older versions may still exist on other people's computers and be circulated online

Only post information that you are comfortable with anyone viewing

1.3.1.G1 Family Economics & Financial Education Revised May 2010 Consumer Protection Unit Identity Theft Slide *Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona

Preventing Identity Thefthttps s = secure

Internet PurchasesLook for https or a picture of a lock after the URL or in the bottom right hand corner indicating the site is secure

Do not give any personal information on a site if it is not secure

Enter the website address yourself rather than following a link from an email or internet advertisement

Use a credit card instead of a debit card when making online purchases

1.3.1.G1 Family Economics & Financial Education Revised May 2010 Consumer Protection Unit Identity Theft Slide *Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona

Preventing Identity Theft

Social Security NumberMemorize Social Security number

Keep Social Security card in a safe place (do not carry it in wallet)

Only give a Social Security number when absolutely necessary- ask why a Social Security number is needed and how the information will be protected

Do not print a social security number on check blanks

1.3.1.G1 Family Economics & Financial Education Revised May 2010 Consumer Protection Unit Identity Theft Slide *Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona

Preventing Identity Theft

Credit ReportsCheck credit reports with each of the three reporting agencies at least once a year

Consumers receive one free credit report from each of the reporting agencies every year, so ordering one credit report from one agency every four months will keep consumers up to date and constantly alerted to their credit report status

Immediately dispute any wrong information

1.3.1.G1 Family Economics & Financial Education Revised May 2010 Consumer Protection Unit Identity Theft Slide *Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona

3 Credit Reporting AgenciesExperian

PO Box 2104Allen, TX 75013-2104

Report Order: 1-888-397-3742

Fraud Hotline: 1-888-397-3745

www.experian.com

Trans Union

PO Box 390Springfield, PA 19064-0390

Report Order: 1-800-888-4213

Fraud Hotline: 1-800-6807289

www.tuc.com

Equifax

PO Box 105873Atlanta, GA 30348

Report Order: 1-800-685-1111

Fraud Hotline: 1-800-525-6285

www.equifax.com

To order a credit report from any of the three reporting agencies, use the following website: www.annualcreditreport.com

1.3.1.G1 Family Economics & Financial Education Revised May 2010 Consumer Protection Unit Identity Theft Slide *Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona

Protect your Social Security number by only giving it out when absolutely necessaryKeep usernames and passwords safe- use a combination of letters, numbers, and symbols that are not easily identifiedSelect security check questions with answers only you would knowDon't give out personal information over the phone, through the mail, or on the Internet unless you've initiated the contact and are sure you know who you're dealing with

Preventing Identity TheftKey Guidelines

1.3.1.G1 Family Economics & Financial Education Revised May 2010 Consumer Protection Unit Identity Theft Slide *Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona

Check credit reports at least once per yearShred all documents that contain personal informationBe careful using the Internet. Only give out personal information when making a purchase on a secure websiteSearch your name occasionally to see if any unusual information appearsBe observant and follow your instinctsPreventing Identity TheftKey Guidelines

1.3.1.G1 Family Economics & Financial Education Revised May 2010 Consumer Protection Unit Identity Theft Slide *Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona

Recognizing Identity TheftHer credit card was denied in a store

She could have checked her online banking more often and then she would have recognized the extra charges on her credit card

1.3.1.G1 Family Economics & Financial Education Revised May 2010 Consumer Protection Unit Identity Theft Slide *Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona

Recognizing Identity TheftNew accounts or charges you didnt makeCalls from collection agenciesIncorrect information on your credit report

Early detection is key!Being denied credit when there is no reason to beMissing bills or mailed statementsWatch for the following signs

1.3.1.G1 Family Economics & Financial Education Revised May 2010 Consumer Protection Unit Identity Theft Slide *Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona

What To Do If Identity Theft HappensShe filed a report with the local police

1.3.1.G1 Family Economics & Financial Education Revised May 2010 Consumer Protection Unit Identity Theft Slide *Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona

What To Do If Identity Theft Happens

1.3.1.G1 Family Economics & Financial Education Revised May 2010 Consumer Protection Unit Identity Theft Slide *Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona

What To Do If Identity Theft Happens

1.3.1.G1 Family Economics & Financial Education Revised May 2010 Consumer Protection Unit Identity Theft Slide *Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona

Deter, Detect, Defend-Avoid Identity theft Hear stories from real-life identity theft victims on the FTCs Deter, Detect, Defend- Avoid Identity Theft video

http://www.ftc.gov/bcp/edu/microsites/idtheft/video/avoid-identity-theft-video.html

1.3.1.G1 Family Economics & Financial Education Revised May 2010 Consumer Protection Unit Identity Theft Slide *Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona

Personal Liability Credit CardsTruth in Lending Act limits liability for unauthorized charges to $50.00 per cardA letter must be received by the creditor within 60 days of the first bill containing the errorThe dispute must be resolved within 90 days of the creditor receiving the letterSince Lucy discovered the theft very quickly, she will only be liable for $50.00 in charges on her credit card!

1.3.1.G1 Family Economics & Financial Education Revised May 2010 Consumer Protection Unit Identity Theft Slide *Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona

ATM and Debit CardsThe Electronic Funds Transfer Act provides protectionThe amount a person is liable for depends upon how quickly the loss is reportedWithin two days: maximum $50.00Within sixty days: maximum $500.00After sixty days a person may be liable for everythingPersonal Liability

1.3.1.G1 Family Economics & Financial Education Revised May 2010 Consumer Protection Unit Identity Theft Slide *Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona

ChecksContact the financial institution and stop paymentMost states hold the financial institution responsible for losses of a forged checkPersonal Liability

1.3.1.G1 Family Economics & Financial Education Revised May 2010 Consumer Protection Unit Identity Theft Slide *Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona

Identity Theft ProtectionOffered by banks and other companiesServicesClosely monitor accounts and personal informationAlert consumer when there is a changeHelp resolve any problems if identity theft does occur

1.3.1.G1 Family Economics & Financial Education Revised May 2010 Consumer Protection Unit Identity Theft Slide *Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona

Cost$5.00 to $35.00 per monthDepends on amount of services providedCan NOT eliminate identity theft but can help prevent itIdentity Theft Protection

1.3.1.G1 Family Economics & Financial Education Revised May 2010 Consumer Protection Unit Identity Theft Slide *Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona

Identity Theft Protection

ProsConsConvenientCostSaves consumer time because they dont have to monitor their own accounts and credit reportsMost of the services offered can be completed by the consumer for no cost

1.3.1.G1 Family Economics & Financial Education Revised May 2010 Consumer Protection Unit Identity Theft Slide *Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona

Identity Theft Insurance

1.3.1.G1 Family Economics & Financial Education Revised May 2010 Consumer Protection Unit Identity Theft Slide *Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona

DirectionsDivide into 4 groupsEach group will take turns verbally answering a question about identity theftIf the question is answered correctly, the group will receive a clue that will help reveal Lucys identity thiefIf the question is answered incorrectly, play will move on to the next group and the group that answered incorrectly will not receive a cluePlay will continue until all 12 clues have been won- each group will have at least 3 chances to receive a clue

Solve the Mystery Activity

1.3.1.G1 Family Economics & Financial Education Revised May 2010 Consumer Protection Unit Identity Theft Slide *Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona

Who is Lucys identity thief?

Make your guess!

Who Did It?Colonel MustardSearched Lucys outgoing mail in the conservatoryProfessor PlumSearched Lucys online banking website in the libraryMrs. WhiteSearched Lucys discarded mail in the kitchenMrs. PeacockGuessed Lucys PIN number in the hall

1.3.1.G1 Family Economics & Financial Education Revised May 2010 Consumer Protection Unit Identity Theft Slide *Funded by a grant from Take Charge America, Inc. to the Norton School of Family and Consumer Sciences Take Charge America Institute at The University of Arizona

Solve the MysteryFind out who the true identity thief is!

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