Identity Theft
 I didn’t do it
Disclaimer
 The purpose of this presentation is to help you better understand fraud and
identity theft and to provide general information about Experian’s fraud victim
assistance. For legal reasons, I:
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cannot discuss issues specific to your personal credit report
cannot advise individuals about how to improve their personal credit report
or credit scores
cannot submit disputes regarding your personal credit report on your behalf
 Information regarding Experian policies and processes is current as of the date of
this presentation but may change.
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Identity theft
 What is it?
 What should a victim
do?
 How Experian can help
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Defining identity theft
A broad term often used to describe many categories of fraud
 Government documents/benefits fraud (19% of FTC
Consumer Sentinel complaints)
 Stolen account numbers/credit card fraud (15%)
 New account fraud
 Check fraud
 Insurance fraud
 Financial schemes
 Unauthorized access to credit data
 Fraudulent and inaccurate data contribution
 Creation of fictitious credit files or credit report ID
information
 Credit clinic activity
 Drivers license or other false identity cards
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Identity theft is up. . . It’s down. . . It’s up again
 Bureau of Justice:
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31% increase in credit card theft
37% increase in the # of households who
experienced multiple types of ID theft during
same episode
 Javelin Strategy and Research:
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12% increase in # of identity theft victims in
2009 (11.1 million adults)
 FTC 2009 report on identity theft complaints:
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# of identity theft complaints decreased from
2008 but increased from 2007 numbers.
 The Bureau of Justice states approx 8.6 million
people were victims in 2010. Javelin reported the
number of victims in 2010 to be 8.1 million.
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Some good news about identity theft!
 In 2010 the number of identity fraud victims
decreased by 28% to 8.1 million adults
 Overall dollar losses caused by fraud are
decreasing:
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Total annual fraud decreased from $56 billion to
$37 billion in 2010
The mean fraud amount per victim declined
from $4,991 in 2009 to $4,607
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Why is fraud decreasing?
 Increased reporting, resulting in more
criminals being caught
 Increased consumer education and
awareness of fraud tactics
 Creditors are using fraud prevention tools
effectively
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How do criminals obtain your identifying
information?
 Lost or stolen
credit cards
 Mail theft
 Shoulder surfing
 Dumpster diving
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 Personnel records
 Skimmers
 Data breaches
 Stolen computers
 Unsolicited e-mail
 Breaking into
parked cars
 Pretext calling
 Relatives/friends
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Protecting yourself from fraud
 You can do everything right and still be victimized
 However, there are a number of common sense things
you can do to minimize your risk:
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Shred documents before putting in the trash
Provide Social Security number
only when necessary
Don’t carry unnecessary information
in a purse or wallet
Don’t leave your purse,
wallet or other identifying information
in your car while shopping
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Protecting yourself from fraud
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Conduct only secure transactions
online (https:)
Don’t respond to unsolicited e-mails
requesting personal information
Don’t share personal information on
social networking Internet sites
Log off when finished on a site
Don’t give identifying information over
the phone unless you initiated the call
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The role of credit reports in new account fraud
 Credit reports are accessed only when the identity thief uses stolen identifying
information to apply for credit
 Credit reporting can help you discover and recover from new account credit
fraud
 Credit reporting often prevents
new account fraud by helping
lenders identify fraudulent
applications
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Experian’s fraud prevention tools
 Lenders utilize a number of tools from Experian to identify
and stop fraudulent applications:
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Authentication Services
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Fraud ShieldSM
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National Fraud Database
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Precise IDSM
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HunterSM
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How can you discover new account fraud?
 Review your credit report annually
 Have an application declined by a lender
 Receive calls from unknown creditors or collection agencies
 Subscribe to a credit
monitoring service
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Take immediate action
Four key steps
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Notify law enforcement
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Make an online report with the Federal Trade
Commission at www.consumer.gov/idtheft
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Contact credit reporting companies
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Contact sources reporting fraudulent information
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Do you think you may be a victim?
Add an Initial Security Alert
 Contact any one of three credit reporting companies online or through
automated telephone system
 Request an initial security alert
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Asks lenders to take additional
precautions before granting credit
Can include an unverified
telephone number
Automatically deleted
after 90 days
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Initial Security Alert
 You are automatically opted-out of
prescreened credit offer lists for six months
 You can request a free credit report
 Fraud recovery and assistance information is
provided
 Request for the alert is shared with the other
national credit reporting companies
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Found evidence of fraud in your credit report?
Next steps
 Initiate investigation through Experian with the
information source
 Consumer reporting company provides source
contact information
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You should contact source directly as well
Source may require completion
of fraud affidavit or other documentation as
part of investigation
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Next step
Add a seven-year victim statement
 Extended fraud victim statement can be added
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You must provide identity theft report
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Asks lenders to call before granting credit
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Shared with other national
credit reporting companies
Automatically deleted
after seven years
 Two additional reports may
be requested free of charge
within 12 months to monitor
for fraudulent activity
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Summary
Experian’s fraud alerts
 Initial security alert
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Reason to believe you might
be a fraud victim
Alerts creditors that you may have been
victimized
Remains 90 days
 Extended fraud victim alert
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You may submit a valid identity theft report and
add an extended alert to warn creditors that you
have been victimized
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May include two telephone numbers
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Remains seven years
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Summary
Experian’s fraud alerts
 Active duty alert
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Alert for deployed members of the U.S.
military
Helps protect them from potential fraud and
identity theft
Remains 12 months
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Additional fraud victim services
Security freezes
 You may place a security freeze on your
credit report
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A security freeze prevents your credit
information from being accessed unless
you have an existing relationship
with the business
You must plan ahead before applying for
new credit or services if your credit file is
frozen
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How do you freeze your credit file?
 You must request a security freeze from each credit reporting agency
separately
 Process for placing a freeze varies by state and for each credit reporting
company
 In general, freezes can be placed with Experian by:
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Accessing www.experian.com/freeze
Writing to Experian and submitting all of the required identification
information
 Certain state laws include requirements such as toll free numbers, freezes for
minors, overnight mail and expedited processing times
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How do you remove a freeze?
 Process for removing a freeze varies by state and for each credit reporting
company
 You must use PIN provided by the credit reporting company
to temporarily or permanently remove a freeze before applying for new credit
 Freezes can be temporarily removed for a certain time frame
or to be accessed only by a specified creditor
 In general, freezes can be temporarily or permanently removed
with Experian by:
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Accessing www.experian.com/freeze
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Calling 1 888 EXPERIAN
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Writing to Experian and submitting all of the required
identification information
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How much does it cost to freeze my file?
 Freeze laws vary by state in terms
of fees, age allowances and methods of
placement and removal
 Security freezes are provided at no charge
to fraud victims if a valid police report is
provided
 Prices for placing or removing a freeze
vary by state for non-victims
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The battle cannot be won in isolation
 Partnership is the key to stopping identity theft:
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National credit reporting agencies
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Credit grantors
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Data providers
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Law enforcement
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Government agencies
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Resources
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Free annual FACT Act credit report
 www.AnnualCreditReport.com
Access to free report from each of the three credit reporting companies
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Education partners
Experian
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www.Experian.com/crediteducation
Ask Max advice column, sample consumer report, frequently asked questions
www.LiveCreditSmart.com
Interesting statistics about consumers and credit, compare your credit score
to national, regional and local averages, learn about life events and credit

Experian Credit Educator: 877-901-6909
Personalized review and guidance about your credit report and score by an
Experian professional for a nominal fee.

www.ProtectMyID.com
Subscription fee service that monitors your credit report and other sources for
evidence of identity theft, provides alerts and dedicated fraud assistance
www.FreeCreditScore.com
Subscription fee service for credit monitoring and unlimited Experian credit
reports and scores
www.AutoCheck.com
For fee vehicle history reports to help consumers ensure they make good preowned auto purchasing decisions
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www.lifesmarts.org
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www.jumpstart.org
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