Understanding Identity Theft

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Understanding Identity Theft

• Presented by
• Tom Lekan
• Chief Security Officer
• KeyBank N.A.

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What Is Identity Theft?

• Identity theft is a term that refers to any type
  of crime in which someone wrongfully obtains and
  uses another persons personal data fraudulently
  and for financial gain.
• Identity theft is a CRIME!!
• Ohio revised code 2913.49.

3
It Cant Happen to Me.

• Identity theft can happen to anyone regardless of
  age, race,occupation or gender.
• Celebrities such as Robert de Niro, Tiger Woods
  and Oprah Winfrey have been victimized.

4
Identity Theft Is Here to Stay
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How Does the Thief Get Victims Information?

• Corrupt employees
• Dumpster diving
• Stealing mail
• Accessing credit info without authorization
• Shoulder surfing
• Finding information on internet sources

• Family that knows personal data
• Break ins
• Counterfeit documents
• Societys desire to have immediate credit
  (Generation IM)
• Victim unknowingly gives it to them

This list is not all inclusive. Unfortunately,
criminals are coming up with new and more
efficient was to commit their crime.
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Phony Internet Solicitation

• Internet advertisements can direct unsuspecting
  customers to the wrong web site.
• Be weary when you click on a link. Are you
  navigating where you want to be?

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Account Hijacking

• Criminal purchases a domain name similar to a
  reputable company.
• www.Key.com (legitimate).
• www.Key/Accounts.com (phony).
• Ask persons to verify their account number in a
  mass email and directs unsuspecting customers to
  the phony web site where they collect account
  numbers and SSNs. Now they open new lines of
  credit (homes), can change mailing addresses, etc.

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Fake Job Listings

• Solicits electronic resumes
• Solicits Social Security Number of applicant
• Fake job postings

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Who Might Be an Identity Theft Suspect?

• Family member- father, mother, child, siblings,
  etc.
• Household help
• Friend
• Significant others
• Apartment manager

• Complete stranger
• Co-workers
• Computer hacker
• Merchant employee
• Mail carrier

In short, it could be just about anyone!
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How Can We Stop Identity Theft?

• The punishment for fraud and recovery of stolen
  funds is so rare, prevention is the only viable
  course of action.
• Mr. Abagnale is a reformed thief who has spent
  the last 25 years associated with the FBI. His
  book catch me if you can is now a Steven
  Spielberg film staring Leonard Deception as
  Abagnale.

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What Should I Do to Avoid Becoming a Victim?

• Be stingy in giving out your personal
  information. It is OK to say no.
• Question why and use common sense relative to
  whether the person really needs to know your
  information.
• Be cautious of fish bowl drawings or unsolicited
  prizes.
• Maintain careful records of your financial
  accounts. Maintain a xerox of the contents
  (front and back) and keep it safe. You can
  easily remember who to call and the numbers.
• Secure your personal records.
• Do not keep pass code and credit cards or debit
  cards stored together.
• Review your credit report.

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What Should I Do to Avoid Becoming a Victim?

• Hold mail at post office when traveling for
  extended periods of time.
• Change bank issued passwords or pass codes when
  possible.
• Do not carry extra credit cards or your social
  security card, birth certificate, or pass codes
  in your purse or wallet.
• While at work, store your wallet in a secured
  place.
• Shred personal data and bills before placing the
  items in the trash.
• Examine the charges on your credit card statement
  before paying the bill.
• Order your social security earnings and benefits
  statement once a year to check for fraud.

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When Should You Take Action or Report Suspicious
or Criminal Activity?

• Immediately contact the one of the credit
  bureaus. Place a fraud alert on your credit.
• Notify law enforcement and the bank as soon as
  you become aware that you are a victim of
  identity theft. Notification should be made both
  verbally and in writing.
• Anytime your credit card, drivers license, or
  social security number is compromised.
• Notify your bank if monthly billing statements
  are not received.
• Contact your bank immediately if there is
  unauthorized activity on any of your credit
  accounts. Assume fraud first and think mistake
  later. Losses are often inflated due to late
  notification.

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Why Do I Have to Take All of the Action? I Am
Being Victimized Again.

• The victim is the only one that can assert the
  written claim of fraud.
• The signed affidavit transfers the victim status.
  
• The victim has the most to gain in having the
  situation resolved quickly.
• It costs the average victim more than 1,000 to
  clean up the mess left by Identity thieves (FTC).

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Where Do I Go for Help If I Am a Victim of
Identity Theft?

• The Federal Trade Commission
• Trans Union
• Experian
• Equifax
• The security/risk department at your local bank
• Local law enforcement
• FBI, Secret Service and Postal Inspection Service

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Any Questions or Comments?