Identity Theft:Crime of the 21st Century

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Identity TheftCrime of the 21st Century

• It could happen to you!

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Definition

• Identity theft occurs when someone wrongfully
  uses your personal information to obtain credit,
  loans, services,rentals, and mortgages in your
  name. They may even commit crimes while
  impersonating you!
• Many victims of identity theft feel that they
  have been personally violated. They may not even
  know they are a victim until years later.
• Anyone can be a victim no matter how well you
  protect your personal information.

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In January of 2007 the Federal Trade
Commission-Consumer Sentinel released a report
indicating that identity theft has has stayed
about the same for the last three years. In fact
in some instances it was slightly lower.

• In 2006 the FTC received over 670,000 consumer
  fraud and identity theft complaints.
• Consumers reported losses from fraud of more than
  1.1 billion in 2006
• Recent studies show that most of the identity
  theft and frauds are from someone the victim is
  familiar with (47).
• Child identity theft is also on the rise. The
  persons committing these crimes are close family
  members, such as the parents or grandparents.

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More Facts

• Credit card fraud (25) was the most common form
  of reported identity theft, followed by phone or
  utility fraud (16), bank fraud (16), and
  employment fraud (14). Other significant frauds
  were government/benefits fraud (10) and loan
  fraud (5).
• Electronic fund transfer-related ID theft
  continues to be the most frequently reported type
  of ID theft bank fraud during 2006.
• ID theft decreased by 1 in 2006 while other
  frauds increased by 3 in the same period.

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Where Does Missouri Illinois Rank?

• Missouri is ranked at 21 and Illinois is ranked
  12 for most ID thefts.
• Missouri is ranked 23 and Illinois is ranked
  39 for other frauds in the United States per
  victim by state in 2006.
• These numbers are from victims and law
  enforcement agencies reporting ID theft and
  frauds to the Federal Trade Commission.

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Sentinel Top Complaint Categories January 1
December 31, 2006 Percentages are based on the
total number of Sentinel complaints (674,354)
received by the FTC in 2006.

• Rank Top Categories Complaints Percentage1
• 1 Identity Theft 36
• 2 Shop-at-Home/Catalog Sales 7
• 3 Prizes/Sweepstakes and Lotteries 7
• 4 Internet Services and Computer Complaints 6
• 5 Internet Auctions 5
• 6 Foreign Money Offers 3
• 7 Advance-Fee Loans and Credit Protection/Repair
  2
• 8 Magazines and Buyers Clubs 1

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Complaint Stats contd.

• 9 Telephone Services 1
• 10 Health Care 1
• 11 Business Opps and Work-at-Home Plans 1
• 12 Travel, Vacations and Timeshare 1
• 13 Office Supplies and Services 1
• 14 Grants Scholarships/Educational
  Non-Educational 1
• 15 Employment Agencies/Job Counsel/Overseas Work
  1
• 16 Investments 1
• Other Coded Complaints 2

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How Identity Fraud is Committed

• Dumpster Diving-going through your trash
• Shoulder Surfing-looking over your shoulder
• Stealing wallets and/or purses with your
  identification
• Pre-approved credit card applications by mail
• Theft of your mail
• Employee theft of your information
• On-line scams (phishing)
• Telephone scams (vishing)
• Impersonating a government, bank, creditor or
  other company official.

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Phishing or Vishing,whats that?

• Phishing is when someone attempts to gain
  personal information from you on a computer. The
  website or E-mail looks like it is from your
  financial institution, on-line auction company,
  creditor, or some other company that you do
  business with. They may indicate there has been
  a security breach or they are updating their
  information. If you do not reply immediately
  they will cancel your account or you are may be
  penalized for not acting on this. The companies
  that you do business with will never ask you this
  information.

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Phishing or Vishing contd.

• Vishing is similar to phishing except it is by
  telephone. They claim to be someone that you do
  business with, telephone company, or a government
  official. Again, they ask you for you personal
  information.
• They use a device that will even give your caller
  ID the correct business name or phone number that
  they are calling from. This is called caller ID
  spoofing in hopes that you believe to whom they
  say they are.

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Types of Frauds

• Canadian or foreign lottery winner
• Advanced Fee loans and credit protection repair
• Employment agencies/job counsel/overseas work
• Money order/cashier check scams
• Secret shopper scams
• Investment scams/Ponzi scheme
• Pyramid scams
• Foreign inheritance or money scams
• On-line auction scams

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Identity Theft Prevention Tips

• Purchase a cross-cut/confetti paper shredder.
• Always cover or block your calling card numbers,
  ATM pin numbers, etc.
• Never carry social security cards or pin numbers
  in your wallet or purse.
• Only carry the credit cards and identification
  that you need at that time.
• Always shred junk mail that may have your
  personal information such as pre-approved credit
  applications and mail order catalog order forms.
• Never give your personal information over the
  telephone unless you know the person or you
  initiate the call.

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Prevention Tips Continued

• Never mail checks or personal information from
  your home mail box. Take the mail to the post
  office or a U.S. mailbox.
• Never put phone or social security numbers on
  personal checks.
• Do not use your social security number for your
  drivers license number or medical cards.
• When using a computer always have updated virus
  protection, firewall, and anti-spy ware software
  installed and active.
• Do not respond to E-mail spam informing you to
  click this address if you do not want any more
  E-mails
• Use the Opt-out plans for junk mail and phone
  solicitation.
• Always keep personal information secure in your
  home.
• Have an unlisted phone number

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What if You are a Victim?

• Always keep good records of transactions and
  immediately check all credit card and bank
  statements for errors or fraudulent entries.
• Report the crime of fraud or identity theft as
  soon as possible to the local authorities.
• Immediately contact your credit card companies,
  financial institutions, drivers license office,
  credit bureaus, and check approval agencies.
• Place a fraud alert with these institutions and
  companies.

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Stopping your information flow.

• Contact the credit bureaus and put a 90 day fraud
  alert on them or a 7-year alert if you are a
  victim of ID theft and have a police report.
• Use the Opt-Out option with the credit bureaus.
• Place your phone number on the no-call list, cell
  phones are not allowed.
• Talk with your state and federal political
  representatives on placing stricter laws for ID
  theft and freeze laws on your credit.

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Credit Bureau Fraud Alerts

• Equifax fraud division www.equifax.com800-525-628
  5P.O. Box 740250Atlanta, GA 30374
• Experian fraud division www.experian.com888-397-3
  742P.O. Box 1017Allen, TX 75013
• Trans Union fraud division www.transunion.com800-
  680-7289P.O. Box 6790Fullerton, CA 92634

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Are you a victim of check fraud? Call these
agencies to report the fraud.CheckRite (800)
638-4600CrossCheck [phone]Certegy, Inc.
[phone]National Processing Co. (800)
526-5380SCAN [phone]TeleCheck (800)
710-9898
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Other agencies to notify

• U.S. Postal Inspection Service www.usps.com/postal
  inspectors
• Social Security Administration www.ssa.gov
• U.S. Secret Service www.secretservice.gov/
• F.T.C./Consumer Sentinel www.consumer.gov/idtheft

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Opt-Out Agencies

• Missouris No Call List 1-866-662-2551
  www.ago.state.mo.us/nocall
• National Do Not Call Registry 1-888-382-1222
  www.ftc.gov/bcp/conline/edcams/donotcall
• Direct Marketing Association
• mail Preference ServiceP.O. Box 643
• Carmel, NY 10512 1 888 5OPT OUT (1 888 567
  8688)
• www.optoutprescreen.com

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Free Credit Reports

• Consumers are entitled to one free credit report
  and two reports if you are an ID theft victim
  each year using a Web site at www.AnnualCreditRepo
  rt.com.
• The toll free number consumers can call is
  877-322-8228.
• Written requests can be sent to Annual Credit
  Report Request Service, P. O. Box 105281,
  Atlanta, GA 30348-5281.

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Identity Theft Review

• Use common sense when dealing with your personal
  information. Know who you are giving it too.
• Always check all of the credit bureaus at least
  once a year. If you are a victim, at least twice
  a year.
• Review you credit card and bank statements
  regularly. Report any discrepancies immediately.
  
• Thank You and remember, only you can reduce your
  risk of Identity theft.