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Identity TheftWhos in Your Wallet?
Sam Guttman, United States Postal Service Bruce
Sullivan, VISA USA Moderated by Ashish Midha,
Deloitte
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Seemed Like a Good Idea at the Time
Hilda Schrader Whitcher 078-05-1120
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Evolution of Identity Theft
8-10 Million Americans 49.3 Billion in
losses 587 Out-of-pocket costs 40 hours of your
time to resolve 53 of known thieves - were
known by the victim! -2007 Identity Fraud Survey
Report, Javelin Strategy Research, February 2007
In both size and scale, Identity Theft has grown
exponentially over the past 25 years...
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Polling Question 1
Imagine an identity theft incident at your
organization. What is your biggest nightmare?

• Congressional Hearings Negative PR
• Losing the Publics Trust
• Damage to Reputation / Brand
• More Regulation / Oversight
• Cost of Remediation
• Dont Know / Not Applicable

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Hilda aka Lady Luck
NEW SSN
Hilda Schrader Whitcher 078-05-1120
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Polling Question 2
What do you think is the most important thing to
do to protect yourself from identity theft?

• Check credit report regularly
• Monitor your account statements
• Have all of your accounts on-line
• Shred your statements before putting in trash
• Dont give out your social security number ever
• Carry only the items you need in your wallet

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Offline Versus Online Methods of Access Causes Of
Known Theft
Offline 68.2 Online 11.6
lost or stolen wallet, checkbook or
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credit card
friends, acquaintances, relatives
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accessed as offline transaction
corrupt employee
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stolen paper mail

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taken from garbage
computer spyware
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accessed as part of online
transaction
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computer virus/hacker
phishing
0
Causes of Identity Theft
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Understanding PII

• Full name (if not common)
• Social security number
• Telephone number
• Street address
• E-mail address
• IP address (in some cases)
• License plate number
• Driver's license number
• Face, fingerprints, or handwriting

Items which might be considered PII include
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.Who Knew?
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Its Your (Our) Responsibility
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Polling Question 3
How prepared is your organization for an identity
theft incident?

• We have an incident response
  plan in
  place.
• We are in the process of putting
  
  together an incident response plan.
• We have no plan.
• I know we have a plan, but I have
  no
  idea what it is.
• Dont Know/Not Applicable.

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ID Theft Acknowledged at Highest Level
The Presidential Task Force has identified 4
areas on which to concentrate
Keeping Consumer Data Out of the Hands of
Criminals
Prevention
Making It Harder to Misuse Consumer Data
Prevention
Victim Recovery
Helping Consumers Repair Their Lives
Law Enforcement
Prosecuting and Punishing Identity Thieves
Source http//www.ftc.gov/bcp/edu/microsites/idt
heft/taskforce.htm
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Polling Question 4
Which vulnerability concerns you the most?

• Use of SSN
• Unencrypted portable media
• Broad access to data
• 3rd party data exchanges
• Faxing PII (with limited control)
• Dont Know/Not Applicable

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ID Theft Program Roadmap
Active monitoring and business-as-usual
remediation
Incremental benefits are achieved when risk
reduction milestones are reached.
Initial Remediation effort
Prioritization of Remediation Plans
Creation of Risk Management Strategy
Initiation of testing program and integration
with other audit efforts
RiskDiagnostic
Value
Identity Theft Incident Response Plan
Program Initiation
INITIATION INFRASTRUCTURE RISK REDUCTION
Evaluate need for additional process reviews
Identify ID Theft Program Governance Model
Vision
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Top 6 Considerations for Protecting Against
Identity Theft

• Collaborate
• Look beyond technology
• Strike a balance
• Strengthen controls
• Think like a thief
• Monitor continuously

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• Its up to you!
• Be proactive!
• Be prepared!

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If Youre a Victim

• Your First Five Steps
• Notify Credit Bureaus and review your credit
  reports.
• File a report with your local police or the
  police in the community where the identity theft
  took place.
• Contact Fraud Department of Creditors.
• File a complaint with the FTC.
• Close any accounts that have been tampered with
  or opened fraudulently.

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Are you Safe? Take the Test!

• www.idsafety.net

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References

• CREDIT BUREAUS
• For instant access to your free credit report
  (September 1, 2005 for Eastern US States) visit
  www.annualcreditreport.com
• Request your Credit Report by PhoneCall
  1-877-322-8228
• Request your Credit Report by Mail
• Annual Credit Report Request Service P.O. Box
  105281 Atlanta, GA 30348-5281
• Consumer Opt-Out 1-888-5-OPTOUT
• www.optoutprescreen.com