Protect Yourself from ID Theft and Account Fraud: Prevention and Recovery Strategies

1. a Welcome to ID Theft & ACCOUNT FRAUD Prevention & Clean Up © 2011 MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP

2. What will you learn • During this presentation you will learn: • The effects of ID theft and account fraud • How ID theft and account fraud happen • How to avoid becoming a victim • How to recognize when fraud has occurred • Steps to take if you come a victim • About helpful resources MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP

3. What is ID Theft • When someone steals another person’s personal information to commit fraud • Open credit cards, buy goods • Take out loans • Get cell phones • Open bank accounts • Seek employment • What else can an ID thief do? MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP

4. What is account fraud? • Unauthorized charges, withdrawals or new accounts • Crooks use: • Identification • Credit card numbers • Social security numbers • Bank account information MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP

5. It pays to prevent ID theft • Victims spend an average of more than 100 hours recovering from ID theft. • It is estimated that victims of ID theft spend an average of $1,865 to clear their names if the crooks opened new accounts MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP

6. Through no fault of their own, victims face • Increased credit card fees • Higher interest rates • Higher insurance premiums • Closure of bank accounts MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP

7. Credit Reports • Check your credit reports regularly. • Free credit reports can be obtained once a year from each of the 3 credit reporting agencies: • Equifax • Experian • TransUnion MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP

8. Free credit reports • Annual Credit Report • www.annualcreditreport.com • 877-322-8228 • Annual Credit Report • Request Service • PO Box 105281 • Atlanta, GA 30348-5281 MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP

9. Credit reports • Get all three agency reports at the same time, OR • Stagger the three reports out during the year • Get one every four months MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP

10. Social Security number (SSN) • Memorize your Social Security number (SSN) • Don’t carry your Social Security card • Don’t print your SSN on your driver’s license or bank checks • Keep all papers listing your SSN hidden or locked away • Shred all documents with SSNs before you throw them away MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP

11. Financial information • Check bills, bank and credit card statements • Report any unauthorized transactions immediately • Track statements, new credit cards or check orders in the mail • Call the companies immediately if you notice • Unauthorized transactions • Missing credit cards or checks MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP

12. Cards and account numbers • Shield ATM keypads when entering passwords • Memorize your PINs • Watch your cards while they are with sales clerks or waiters • Lock your own mailbox • Use US post boxes for outgoing mail that contains account numbers MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP

13. Phone and Internet • Don’t answer callers or e-mails asking for personal information • Remember, you may be overheard on a cell phone • Always make sure you are dealing with reputable companies MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP

14. Marketing • Read your bank’s privacy notice • Stop or ‘opt out’ of pre-screened credit offers • 888-5OPT-OUT MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP

15. Are you already a victim? • Check your credit report • Look for • Accounts you don’t recognize • Inaccurate information MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP

16. Monitor your mail • Missed bills, credit card statements, etc. may signal trouble MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP

17. Always question … • Charges, bills or collection calls that are not yours • Complain immediately • Denials of credit when you have good credit • Get a free copy of the credit report used to make the decision • Check for mistakes or fraud MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP

18. ID theft clean up • Document the crime • File a police report with your local police department • Get a copy of the police report • Contact appropriate state and federal law enforcement agencies • Complete a free ID Theft Affidavit from the FTC • www.ftc.gov/idtheft MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP

19. Fraud alerts • Add a fraud alert to your report • Initial alert—90 days • Extended alert—7 years • Additional free credit reports • When alerts are in place, allow time when applying for new credit • Instant credit won’t work MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP

20. Credit reporting agencies • Equifax, 800-525-6285, www.equifax.com • Experian, 888-397-3742, www.experian.com • TransUnion, 800-680-7289, www.transunion.com MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP

21. Victims - be watchful • Dispute fraudulent accounts immediately • Close all affected accounts • Follow up your phone call with a written request • Get letters stating disputed accounts have been closed • Create new passwords for all of your accounts • Avoid easy-to-guess passwords MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP

22. On-going prevention • Get your credit report. Look for: • Accounts you don’t recognize • Incorrect information about you • Order free reports • www.annualcreditreport.com • 877-322-8228 MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP

23. Password accounts • Place passwords on your credit card, bank and phone accounts • Don’t use easy-to-guess names and numbers • Ask businesses not to use SSN or mother’s maiden name MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP

24. Computer safety • Don’t respond to ‘phish-y’ e-mails • Enter web addresses (URLs) carefully • Bookmark favorite sites • Check site security—padlock in browser • Don’t ‘click’ e-mail links • Use phone numbers on account statements or from the phone book • Stay informed – check the web for scam alerts MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP

25. Proof of the crime • File a police report • Get a case number • File reports with other appropriate agencies • Complete free FTC ID Theft Affidavit MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP

26. Freeze your credit • Prevent new credit without your permission • Fees and procedures vary from state to state • ID theft victims usually can place, lift or remove the freeze for free • To freeze, contact the credit reporting agencies: • Equifax: 800-685-1111 • Experian: 888-397-3742 • TransUnion: 1-888-909-8872 MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP

27. Social Security numbers • Usually, you can’t get a new SSN • For more about SSNs, visit the Social Security Administration • www.ssa.gov MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP

28. Additional Resources • FTC ID Theft Clearinghouse / ID Theft Hotline • US Department of Justice • Federal Bureau of Investigation • Federal Deposit Insurance Corporation • United States Postal Inspection Service • United States Secret Service MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP

29. Non-profit organizations • Consumer Action • www.consumer-action.org • Identity Theft Resource Center • www.idtheftcenter.org • National Fraud Information Center • www.fraud.org • Privacy Rights Clearinghouse • www.privacyrights.org MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP

30. Visit money-wise.orgfor additional information and to access free financial education materials MoneyWI$E A CONSUMER ACTION AND CAPITAL ONE PARTNERSHIP