Identity Theft

WHAT IS IT?

• Also called Identity Fraud, Identity Theft is when an individual uses another persons identifying information, such as name, social security number, or any other part of a persons identity.

• The term was first coined in 1964

• Considered the fastest growing crime in America

WHAT MOTIVATES IDENTITY THEFT?

• More often than not, criminals are motivated by the financial gain that they can receive.

• Many use the stolen information to obtain a line of credit under the victims name, or use the information to gain access to the victims bank accounts, or they sell it to someone else who has the same intentions

• It is very hard to track the criminal, due to the anonymity of the internet and because many victims may not notice the damages until it is too late

COMMON METHODOLOGIES• Historically, dumpster diving, “shoulder surfing”, and

postal theft were the most common methods used by thieves.

• With the advent of computers, the internet, and online banking/billing, the battle has moved to the internet

COMMON METHODOLOGIES CONT’D

• Now the thieves have moved to cyber space to commit their crimes.

• Commonly use a tactic called “phishing”• This type of theft has caused $5 billion in damages worldwide.

• Usually try to target the elderly, or less technologically literate users.

BUT IT’S NOT ALWAYS ABOUT THE MONEY…

• A form of identity theft known as Medical Identity Theft has been emerging in recent years.

• Medical identity theft is when someone uses an individual’s name and personal identity to fraudulently receive medical service or prescription drugs and goods

• 29 percent of all identity theft was found in medical records in 2013

MEDICAL IDENTITY THEFT• Many consider this a victimless crime, however this is

not the case.

• Leads to an inaccurate medical history, which can cause a misdiagnosis, mistreatment, or the victim to be given incorrect prescriptions.

• 313,000 reported cases so far in 2013, with 1.84 reported cases to date.

WHAT CAN BE DONE?• There are many things that an individual can do to

mitigate their risks:• Check bank balances and transaction history often• Do not divulge sensitive information without full

knowledge of how it will be used and why it is needed• Put all personal information in a paper shredder

before throwing it away• Be weary of emails asking for banking/personal

information and report them immediately. When in doubt, call your bank