Identity Theft
By: Tory Childs, Lucas Doyle, Kaitlyn Davidson, Trevor
Godwin and Chad Sponseller
What is Identity Theft
● The illegal use of someone else's personal
identifying information in order to get
financial gains
Signs of Identity Theft
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Errors in bank or credit statement
Account is flagged for irregular activity
Unexpected or missing mail
Inaccurate credit reports
How to Prevent Identity Theft
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Don't carry your Social Security card
Pay attention to your billing cycles
Store personal information in a safe place at home and at work
Check your credit report
Tear up or shred unwanted receipts, credit offers, account statements,
expired cards, etc., to prevent dumpster divers getting your personal
information
Types of Identity Theft
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Financial
Insurance
Medical
Criminal
Driver’s license
Synthetic
Child
Financial
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Damaged credit
Credit and debit card fraud
Checking and savings account fraud
Investment account fraud
Mortgage and other loan fraud
Tax fraud
Insurance
● Any insurance policy that pays benefits for costs,
including travel costs, notary fees, and postage costs,
lost wages, and legal fees and expenses associated with
efforts to correct the effects and results of identity theft
of the insured individual.
Medical
● Medical identity theft occurs when someone
steals your personal information (like your
name, Social Security number, or Medicare
number) to obtain medical care, buy drugs,
or submit fake billings to Medicare in your
name.
Criminal
● When an imposter gives another person’s
name and personal information such as a
driver’s license, date of birth, or social
security number to a law enforcement officer
during an investigation or upon arrest.
Driver’s License
● Letting companies and others record your
driver’s license data can put you at risk for
identity theft.
Synthetic
● Occurs when thieves create new identities either by
combining real and fake identifying information to
establish new accounts with fictional identities, or
create a brand new identity from totally fake
information.
Child
● A child’s social security number can be used by identity
thieves to apply for government benefits, open bank and
credit card accounts, apply for a loan or utility service,
or rent a place to live.
How Its Committed
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DUMPSTER DIVING!
○ Thieves will search dumpsters for personal information to steal account number
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Mailbox Raiding
○ Its pretty easy to find bank statements and other personal documents to steal your identity
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Skimming
○ Installing their own credit card scanner on an atm to get your card numbers
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Corporate breaches
○ Hackers will access your employer's computer to take the information they have from you
and steal it all.
Long Term Effects
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Have to fork over the Cash
Ruins Credit
Maxed out Credit cards
Possible criminal record in your name.
Credit Card Fraud
● A term for theft and fraud committed using/involving a payment card such
as a debit or credit card, as a fraudulent source of funds in a transaction.
● Credit card fraud is when someone uses one or more of your cards without
your permission.
Security Issues
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Credit Card Fraud: Your balance will increase, and if you can't remove the charges
from your account, the credit card company may hold you responsible for the unpaid
amount.
Identity Theft: Using your Social Security number and birth date, thieves can steal
your identity to open fraudulent accounts, obtain medical care in your name or fund
criminal activity.
Unauthorized Charges: Unauthorized charges may appear because of an error,
such as a double billing, or they may be intentionally imposed by a shady company.
How to protect yourself from Credit Card Fraud
● If you've been a victim of identity theft, you might be entitled to free credit
monitoring.
● Check your financial statements regularly, keeping an eye out for any
unfamiliar activity.
● Keep your cards in a safe place and don't lend them to anyone.
● Don't give your account number to any company.
● If you pay with your credit card online, make sure that the transaction is
secure.
What do you do?
If you are a victim of credit card fraud, follow
these twelve steps!
1. Notify affected creditors or bank
9. Change all account passwords
2. Put a fraud alert on your credit report
10. Contact the Social Security fraud hotline
3. Check your credit reports
11. Get a new driver's license
4. Consider putting a credit freeze on your reports
12. Contact your telephone and utility companies
5. Contact the FTC (Federal Trade Commision)
6. Go to the police
7. Send creditors a copy of your theft report
8. Contact credit reporting agencies
Sources
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https://www.google.com/?gws_rd=ssl#q=define:+credit+card+fraud
http://www.bankrate.com/finance/financial-literacy/12-steps-for-victims-of-identity-fraud-3.aspx
https://www.google.com/search?q=victims+of+credit+card+fraud&client=firefox-a&hs=uUW&rls=org.mozilla:enUS:official&channel=fflb&source=lnms&tbm=isch&sa=X&ei=vC6LVImzKYm2yQTeioDIAg&ved=0CAkQ_AUoAg&biw=1920&bih=943#facrc
=_&imgdii=_&imgrc=Nhu7WEqpb7apXM%253A%3Bz-fAkkFXoWnuSM%3Bhttps%253A%252F%252Fwww.zionsbankblog.com%252Fwpcontent%252Fuploads%252F2014%252F11%252F4-ways-to-avpid-ID-theft-and-credit-cardfraud_nobtn.jpg%3Bhttps%253A%252F%252Fwww.zionsbankblog.com%252Fpersonal-finance%252F4-ways-to-avoid-credit-card-fraud-and-idtheft-2%252F%3B1200%3B500
http://guides.wsj.com/personal-finance/credit/how-to-protect-yourself-from-identity-theft/