Week 10 – ID Theft

1. Week 10 – ID Theft Mr. Bergman Accounting 1 Money Mondays

2. Identity Theft Intro Clip

3. Which types of personal information do thieves need to commit ID theft? • Social Security Number – • They key to your identity • Open new lines of credit • Credit Card / Bank Account Info - • Can drain / charge your accounts • Drivers License – • Used to open new lines of credit • Employment History – • Gain employment under your name and not pay income taxes. • One way a thief can access your work history is by finding your resume online.

4. We will use Socrative to Answer the Following Questions

5. Question # 1 The United States Department of Justice states that in 2010, ___ % of all United States households had at least one member of the family at or over the age of 12 who has been a victim of some sort of identity theft.  • 7 • 9 • 11 • 16

6. The main reasons fraudsters use child identities is to administer illegal immigration, steal, and wipe clean the credit scores of a loved one by utilizing that of a child in their place. • Sadly, this can have negative effects on the child’s credit down the line, and they could have trouble securing student loans, getting a decent job, or even purchasing a cellphone. 

7. Question # 2 According to Time Magazine, _____ million dead people get their identities stolen every year. • 1.7 • 2.5 • 3.6 • 5.1 • ID Analyticsfound that over 1.6 million deceased individuals had ID and SSN stolen to : • Apply for credit cards • Open up clean credit lines • Open cell phone services

8. Question # 3 Javelin Strategy & Research showed that consumers may be putting themselves at a higher risk for identity theft as a result of: • Not shredding mail • Using unsecure websites • Posting to social media • Not monitoring their credit report

9. Why is this important? • 68% percent of people shared their birthday information on Facebook / Twitter • 45% of them getting into specifics about the exact month, day, and year. • 63% percent shared where exactly they attended high school. • 18% shared their phone number • 12% shared their pet’s name. • Not only are all of these details typically asked when verifying an identity, but people also frequently use them in passwords. 

10. Question # 4 Department of Education found that college students may be more vulnerable to ID Theft. According to the survey, ___% of college students have valuable financial or personal information available in their dorm rooms for someone to use to commit identity theft. • 12 • 21 • 32 • 48

11. Question # 5 Going through your garbage cans or a communal dumpster or trash bin -- to obtain copies of your checks, credit card or bank statements, or other records that typically bear your name, address, and even your telephone number. These types of records make it easier for criminals to get control over accounts in your name and assume your identity. • Dumpster Diving • Phishing • Identity Recycling • Sanitation Surfing

12. Dumpster Diving Clip

13. Question # 6 Scam where what looks like a legitimate email is sent, usually from a financial institution, and often asks you to click on a link to give information. • Shoulder Surfing • Phishing • Vising • Email Diving

14. Phishing

15. Question # 7 Scammers are increasingly using a low-tech tool – the telephone – to rip people off. They can set up a system that automatically dials a long list of phone numbers and asks for account information. What’s more, they can mask the number that shows up on caller ID said that the incoming call looks legitimate. • Vishing • Phone Trapping • Voice Mailing • Voice Trapping

16. Question # 8 Thieves use tiny hand-held credit card readers to collect the information on your credit card’s magnetic strip. It is common in restaurants and stores where you turn over your credit card to pay. Even an ATM to steal your data when you try to withdraw money. • Card Surfing • Card Swipe • Pharming • Skimming

17. Skimming at a Gas Station

18. ATM Thefts

19. What do you do to repair ID theft?