1 / 22

Identity Theft

The following is a presentation prepared for NASFAA’s 2007 Conference in Washington, DC July 8-11, 2007. Identity Theft and You Presented by Paula Craw and Jeff Southard. Identity Theft. “An informed borrower is simply less vulnerable to fraud and abuse.” -Alan Greenspan. Agenda.

peony
Télécharger la présentation

Identity Theft

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. The following is a presentation prepared for NASFAA’s 2007 Conference in Washington, DCJuly 8-11, 2007

  2. Identity Theft and You Presented by Paula Craw and Jeff Southard Identity Theft

  3. “An informed borrower is simply less vulnerable to fraud and abuse.” -Alan Greenspan

  4. Agenda • What is Identity Theft? • You may be a target • Why you should protect yourself • Current rules protecting consumers • How is identity theft committed? • Deter • Detect • Defend

  5. What is Identity Theft? • Wrongful use of your personal information to commit fraud or other crimes • Committed by 2 types of thieves: • skilled professionals • acquaintances with access to your personal financial information

  6. You may be a target • Nobody is truly safe from identity theft • FTC estimates 10 million victimized yearly • Lack of tough consequences for poor security • Protection for consumers is minimal • Consequences for committing theft outweighed by benefits for criminals

  7. Rules to protect you • Federal Level • Gramm-Leach Bliley Act • FERPA • FACTA • State by state legislation varies • CA leader in state privacy protection • Some states offer little protection

  8. How is identity theft committed? • Dumpster diving or shoulder surfing • Skimming • “Phishing” • Changing your address • Theft or forwarding of your mail

  9. How is identity theft committed? • Old fashioned stealing • Telephone scams • Pre-approved credit card offers by mail • Business record theft – stealing files from offices where you’re a customer, employee, patient or student

  10. How is identity theft committed? • Establish phone service • Open a bank account and write bad checks • Counterfeit checks or debit cards to drain your account

  11. Why protect yourself? • Prospective employer pulls credit – you don’t get the job because credit report shows poor handling of finances • Denial of mortgage application • Skyrocketing car insurance rates

  12. Did you know? • 20% of identity thieves know their victims personally • Losses to identity theft victims exceed $5 billion annually

  13. Deter: safeguard your information • Protect your financial “holy trinity” • Name and address • Date of Birth • Social Security Number • Shred financial documents and paperwork with personal information

  14. Deter: safeguard your information • Never lend credit cards or account information to anyone • Delete unsolicited emails • Protect your home computer-use firewalls, anti-spyware and anti-virus software

  15. Deter: safeguard your information • Be smart when setting up passwords • IuSP4moP! • Keep your personal info in a secure place • Don’t let mail pile up unattended

  16. Did you know? • Losses to businesses and financial institutions exceed $50 billion annually • 27.5 million victimized in the last five years

  17. Detect: monitor your accounts • Request a free copy of your credit report on a regular basis: www.annualcreditreport.com • or call 877-322-8228 • Review financial accounts and billing statements regularly

  18. Detect: monitor your accounts • Be alert to: • bills that don’t arrive as expected • unexpected credit cards or acct statements • denials of credit for no apparent reason • calls or letters about purchases you didn’t make

  19. Defend: take action immediately • Place a fraud alert on your credit reports • Contact credit bureaus to do so – you’ll get free copies of your reports • Equifax – 800.525.6285 • Experian – 888.397.3742 • TransUnion – 800.680.7289

  20. Defend: take action immediately • File a police report and make copies • Review credit reports carefully • Close accounts tampered with or established fraudulently – contact each company, follow up in writing

  21. OPT-OUT today • Credit bureau opt-out • 888.567.8688 • Allows you to opt out of pre-approved credit offers for a period of 5 years or indefinitely

More Related