Protecting Your IdentityIdentity Theft

What is identify theft?What is identify theft?

To get creditTo get credit Open fraudulent accountsOpen fraudulent accounts Write checksWrite checks Or use credit cardsOr use credit cards

Using someone’s name…

An identity Crisis…An identity Crisis…

Identity theft is the “fastest growing crime Identity theft is the “fastest growing crime today.”*today.”*

In 1992, TransUnion credit agency reported In 1992, TransUnion credit agency reported 35,000 calls related to identity theft. In 2001, 35,000 calls related to identity theft. In 2001, they received more than a million calls!they received more than a million calls!

**FTC (Federal Trade Commission)FTC (Federal Trade Commission)

An Identity Crisis…

• 36 million people were victims of identity theft in the past 6 months.

• In 2005, there were 9 million identity theft victims costing them $56.6 million.

• Based on incidents of identity theft per population, Washington state ranks 7th in the nation.*

*FTC

An Identity Crisis…An Identity Crisis…

69% of victims didn’t know anything 69% of victims didn’t know anything was wrong for 6 months, and 16% was wrong for 6 months, and 16% learned about it 2 years after the learned about it 2 years after the incident.incident.

70% of people filing complaints with 70% of people filing complaints with the FTC have no idea how their the FTC have no idea how their personal information was stolen.personal information was stolen.

32% of the complaint filings involve 32% of the complaint filings involve credit card fraud.credit card fraud.

How does it happen?

• Mail Theft.Incoming…credit card offers, bank, stock, and credit card statements, personal tax information, monthly billsand lettersOutgoing…people put mail in their mailbox and put the red flag up.

• Bogus change of address forms.• Dumpster diving and garbage cans.

How does it happen?

• Pilfering personal records (usually a family member, friend, or visitor who has free access inside your home or car).

• Can you think of other ways?

“Pure Gold” Information

Your personal information is “pure gold,” particularly…

Social Security number Date of birth Mother’s maiden name Driver’s license number Financial account numbers

Real Life Experiences…Real Life Experiences…

Income tax preparer’s name and Income tax preparer’s name and social security number stolen.social security number stolen.

Credit Union Field Marketing Credit Union Field Marketing Representative and her Representative and her daughter were victims.daughter were victims.

Oprah Winfrey, Tiger Woods, Oprah Winfrey, Tiger Woods, and Steven Spielberg have and Steven Spielberg have been victims of ID theft.been victims of ID theft.

Nigerian Letter ScamNigerian Letter Scam

Letter from citizen in Nigeria asking Letter from citizen in Nigeria asking you to help him withdraw millions of you to help him withdraw millions of dollars from a U.S. account. You get dollars from a U.S. account. You get 20%!20%!

FBI has reported that over $100 FBI has reported that over $100 million dollars has been scammed off million dollars has been scammed off victims. Ten victims are missing and victims. Ten victims are missing and presumed to have been murdered.presumed to have been murdered.

Missing victims traveled to Nigeria to Missing victims traveled to Nigeria to pick up money.pick up money.

Identity Thieves…

In Auburn, two sisters who cleaned local businesses stole information.

Be aware of information left on your desk and in unlocked file cabinets.

Everyone knows where the keys are! Safeguard your information!

70% of all ID fraud cases may start with information stolen in the workplace, rather than through hacker intrusion, home robberies, or mail fraud.

Warning Signs…

Bank statements are not being delivered to you in a timely manner.

Statements are sent on a strict schedule. Call your bank if you don’t receive them in a reasonable time.

Warning Signs…

Watch for change of address on your personal business.

Telephone calls and notices from creditors that you have never done business with.

Warning Signs… Beware of unsolicited email

(Phishing).

Stop. Resist the urge to immediately respond.

Look. Read the text…why is the information requested really needed?

Call. The organization…use a number you KNOW is legitimate.

Ways to beat Identity Theft…

Shred, Shred, Shred…

Destroy paperwork that contains critical personal information.

Ways to beat Identity Theft…

When ordering checks… Limit your personal information. Use initials instead of first name. Use your work phone number. Camera phones…give criminals

the opportunity to get credit and debit information.

Ways to beat Identity Theft…

Use only secure sites when buying online.

Use numbers, symbols, and upper and lower case letters 5-8 characters in length.

Setup a verbal password with your bank when accessing information.

Ways to beat Identity Theft…

Lock up your personal information. Watch your medical records. Education yourself on the latest

scams and frauds.

Ways to beat Identity Theft…

Order a copy of your credit report at least once a year.

www.AnnualCreditReport.comCredit Reporting Agencies: Equifax 1-800-685-1111 Experian 1-888-397-3742 TransUnion 1-800-916-8800

If you are a victim…

Speed is the key to damage control.

Call your financial institutions.Close accounts, place stop

payments on stolen checks.

Hot card ATM credit cards.

Social Security card stolen?

Social Security Administration

1-800-269-0271

If you are a victim…

Call the FTC and add your name to the National Fraud Alert Data Base.1-877-438-4338

Notify telephone and all cell phone providers.

File a police report and keep a copy.