Who

1
Whos in YOUR Wallet?

• Identity Theft
• Make the right moves to protect yourself

2
Why am I here?
It CAN happen to you

• It happens in YOUR community

Read the full story on the News Tribune
website http//dwb.thenewstribune.com/news/projec
ts/idtheft
3
About DFI

• DFI charters, licenses, and regulates a variety
  of Washington State Financial Institutions.
• Mortgage Brokers Loan Originators
• Consumer Loan Companies
• Payday Lenders
• Banks
• Credit Unions
• Securities Broker-Dealers
• Investment Advisors
• The Department also provides education and
  outreach to protect consumers from financial
  fraud.

4
How Can DFI Help?

• DFI Assists Consumers by
• Providing ways for consumers to verify that an
  entity is licensed to do business in Washington.
• Reviewing consumer complaints against financial
  institutions and taking legal action, if
  necessary.
• Examining the institutions that we regulate, and
  taking legal action, if necessary.
• Issuing financial scam and fraud alerts.
• Providing education and outreach.

5
DFI Communications

• DFI's Communications team provides information
  and education on financial services to the public
  and those we regulate.
• We do this by
• Developing consumer education focused initiatives
  aimed at diverse and underserved communities.
• Developing and marketing initiatives aimed at
  assisting and educating licensees and businesses.
• Building partnerships with other agencies and
  associations.

6
What Will I Talk About?

• What is Identity Theft?
• Methods Thieves Use To Steal Your Identity
• Precautions You Can Take
• What To Do If Youre A Victim

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What Is Identity Theft?

• Catch all term for crimes involving illegal usage
  of another's identity. (1 in 28 were a victim in
  2007, WA ranks 13th in nation. Down from 9th and
  7th.)
• Class B felony in WA State. (10 years, 20,000)
• Most incidents involve financial fraud.
• Using stolen checks or debit cards to drain your
  account
• Opening a new credit card
• Obtaining a loan (car, small loan) in your name
• Establishing phone service or other paid service
  in your name

8
Identity Theft How It Happens

• Dumpster Diving
• Sifting through residential or commercial
  garbage.

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Identity Theft How It Happens

• Pretexting
• Asking for or gathering your personal information
  under false pre-tenses.

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Identity Theft How It Happens

• Skimming
• Scheme used to capture your personal information.
  Credit card number, drivers license, address,
  etc.
• Many high tech devices available for purchase on
  the Internet.
• Lets see how an ATM skimmer works.

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Identity Theft How It Happens
12
Identity Theft How It Happens
13
Identity Theft How It Happens
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The Newest Scams

• Fake Web sites for campaign contributions
• Job recruiters asking for SSN
• Hotel internet hookups bugged to log keystrokes
• Fake IRS emails asking for SSN
• Smishing

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The Newest Scams

• Fake Web sites for campaign contributions

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The Newest Scams

• Job Recruiters Asking for SSN

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The Newest Scams

• Hotel Key Loggers

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The Newest Scams

• Smishing

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The Newest Scams

• Gas Station Skimmers

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The Newest Scams

• Crooks posing as employees of financial
  institutions, FDIC, banks, credit unions to
  verify insurance.
• Fake IRS email scams
• Economy Turmoil Schemes

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Other Methods Used By Thieves

• Check Fraud
• Mail Fraud, Redirection
• Computer Spyware
• Data Theft
• Wireless Hacking
• Pharming, Phishing Link

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How Easy Is It To GetInformation About Someone?

• For 49.95 at Zaba search, I can buy
• Where you work Previous place of employment.
• Organizations you are apart of.
• A picture of you.
• The year you were born.
• Directions to your property and a satellite map.
• Background check, criminal report, marriage
  certificates, reverse cell phone look up, etc.
  that even gives me access to information about
  your family members!

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Precautions You Can Take

• Leave your Social Security card at home
• Shield ATM keypads when entering passwords
• Watch your cards while they are with sales clerks
  or waiters
• Never throw away receipts or other documents with
  your information on it in public trash bins
• Buy a shredder and use it
• Install a locked mailbox at your residence to
  deter mail theft. Or use a post office box

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Precautions You Can Take

• Never give out personal information to an
  unsolicited email, caller, or Web site.
• Check your credit report frequently (3 times a
  year). www.annualcreditreport.com
• Check bills, banks, and credit card statements
  frequently. Be wary of statements that dont show
  up on time.
• Opt out of pre-screened credit offers.
• 888-5OPT-OUT or www.optoutprescreen.com
• Register with the do not call registry.
  www.donotcall.gov

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What To Do If Youre A Victim

• Contact your Financial Institution. Close the
  account.
• Place a fraud alert on your credit reports. You
  only need to contact 1 of the 3 companies.
• Equifax 1-800-525-6285
• Experian 1-888-EXPERIAN (397-3742)
• TransUnion 1-800-680-7289
• File a police report.
• Possibly, request a security freeze.
• File a complaint with the FTC or Washington AGs
  Office. www.ftc.gov/idtheft

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Security Freezes

• Identity theft victims and adults ages 65 and
  older are able to place a freeze for free. 
• Consumers who aren't entitled to a  free freeze
  pay up to 10 per bureau. Total of 30 to freeze
  their reports with the three major credit
  reporting agencies, Equifax, Experian and Trans
  Union.  For the time being, TransUnion allows
  consumers to use their Web site to request a
  freeze at no charge.
• As of  Sept. 1, 2008, anyone can request a
  security freeze.
• Requesting A Freeze http//www.atg.wa.gov/freezech
  arts.aspx

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Lift A Security Freeze

• Temporarily Lift of a Freeze
• As of Sept. 1, 2008, Washington consumers will be
  able to request a thaw within 15 minutes through
  an electronic contact method chosen by the
  credit-reporting agency, or within three business
  days of receiving a request by mail. Credit
  reporting agencies can charge a small fee for
  temporarily lifting a freeze.
• When you place a security freeze on your file,
  you will be provided a personal identification
  number or password to use if you choose to remove
  the security freeze from your file or authorize
  the temporary release of your credit report for a
  specific person or period after the security
  freeze is in place.
• The freeze must be lifted within 15 minutes if
  the request is securely received between 6 a.m.
  930 p.m., seven days per week.
• Before the thaw law consumers could request a
  temporary freeze lift through writing. Credit
  reporting agencies had to lift the freeze within
  3 business days of receiving the letter.
  Consumers can choose the length of the temporary
  lift. Most reporting agencies offer 7-,15- and
  30-day lifts.
• Also before the new law took affect on Sept. 1,
  only victims of ID theft could request a security
  freeze. Now anyone can.

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Security Freeze Thaw

• Request a 15-Minute Thaw
• Contact each CRA
• Provide proper identification
• Provide your PIN or Password
• Set the temporary time period when your credit
  report may be viewed

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What To Do If Youre A Victim

• Stolen Checks
• Close account.
• Notify financial institution and ask them to
  notify their check verification service.
• Mail Theft
• Contact US Postal Inspection Servicewww.postalins
  pectors.uspis.gov
• Phone Fraud
• Contact the Washington Utilities and
  Transportation Commission.
• Cellular fraud? Contact the FCC.

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Resources

• FTC
• www.ftc.gov/idtheft/
• On Guard Online
• www.onguardonline.gov
• Privacy Rights
• www.privacyrights.org/identity.htm
• DFIs Web site
• www.dfi.wa.gov/consumers/campaigns.htm

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One last thing.

• Educate your family!

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Questions?
Lyn Peters Director of Communications 360.902.8
731 lpeters_at_dfi.wa.gov