how to prevent identity theft and fraud

Download How to Prevent Identity Theft and Fraud

Post on 20-Jul-2015



Economy & Finance

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CLB 3-4 Drop-in Workshop:

How to Prevent Identity Theft and Fraud

AgendaObjectivesIntroductionsWhat is identity theftHow does identity theft happenWhat information is most commonly stolenHow our stolen information is used What can we do to prevent identity theft? Five case studies

ObjectivesBy the end of this workshop you should know:What financial information should be protectedHow to protect yourself from identity theft and fraudWhat to do if you are a victim of identity theft or fraud IntroductionsWhat is your name?What is your country of Origin? ReflectionWhat is identity theft?Have you ever been a victim of identity fraud?What happened?What did you learn?What is identity theft?This is when somebody steals another persons personal information for the purpose of engaging in criminal activities.What is identity fraud?This is when your personal information is actually used by the person who stole it.Identity TheftHow can it happen? How it can happen1. Dumpster Diving

How it can happen2. Our own carelessness

How it can happen3. Car break-in

Photo by V31S70 shared under CC BY 2.0

How it can happen4. Mail theft

How it can happen5. Financial institution fraud

Listen:What mistake did Iliana make?What could she do differently next time?Ilianas Financial LessonFernandoOh, hi Iliana ... How are you today?IlianaI m ok I suppose. Im just a little stressed out! FernandoWhy whats wrong?Iliana

Well, I got a call from the credit card company because my credit card is maxed out!Fernando

Oh thats too bad. Its not like you to overspend.Iliana

Thats the problem. Its a brand new card. I never even had a chance to use it!Fernando

Well then how did it get maxed out?Iliana

This is why I am stressed out. I went to go and check my wallet and its gone! I think it was stolen!Ilianas Financial LessonFernando

That is a problem! Where did you leave it?Iliana

By accident I left it on the front seat of my car yesterday afternoon. I was in a hurry. I was going to go back to my car because I planned to go to the store for milk, but then I changed my mind. I completely forgot I left it on the front seat. Oh, and one more thing....Fernando

Whats that?Iliana

I didnt lock the car door!Fernando

What are you doing about this mess?Iliana

I dont know can be done! Im just waiting for the credit card company to call me back.Fernando

What a hard lesson this is!Iliana

You can say that again!What kind of information is commonly stolen?Your full nameYour date of birthYour social insurance numberYour full addressYour mothers maiden nameUser names and passwordsDrivers license numberCredit card informationBank account informationSignatureOne more thing!

How is stolen information used?Access your bank accountsOpen new bank accountsTransfer account balancesApply for loansMake purchasesHide criminal activityOpen new passportsWhat can we do to help ensure our personal information is not stolen?1. Monitor our records

2. Check our credit report for unusual activity

Photo by TrinityCreditServices shared under CC BY 2.0 3. We should Investigate further if ...1. we receive phone calls from a collection agency about unfamiliar accounts2. We unexpectedly get turned down for creditHow can we prevent Identity theft?1. Shred all personal documents

2. Monitor financial records

3. Do not give personal information over the phone

Photo by Kylesteed shared under CC BY 2.0 4. Dont be careless with your personal information

4. Dont carry too much personal information with you

5. Keep all personal information numbers in a safe placeNever write them on the cards!6. When you change your address be sure to notify all your financial institutionsPhoto by mbtrama shared under CC BY 2.0

7. Shield the ATM and swipe your own card!

7. Know when your credit card payments are duePhoto by frankieleon shared under CC BY 2.0

Case StudiesRead each study and discuss

what mistake was made (if any)?What can be done now to fix the problem?What can be done to prevent identity theft?Case Study One:Miguel and his family are moving to a new house. They have many personal financial documents which they feel they no longer need. Miguels wife asks what they should do with the documents. Miguel suggests tearing them up and throwing them into the garbage.Case Study Two:Samantha keeps all her pin numbers in her wallet. She has so many credit cards she cannot remember all the numbers.Case Study Three:Su Jies bank called to confirm her address and bank account numbers. Su Jie felt comfortable giving her account number over the phone because the caller seemed to already know a lot about her. She assumed it really was a lady from the bank.Case Study Four:Bob and Diane always had a good credit rating. One day they decided to apply for a small loan for a car. They were surprised when they got a call from the bank informing them that their application was declined.Case Study Five:Kamaljit and Vera are very good friends. Vera has no money with her to buy medicine for her child. Vera asks Kamaljit if she could borrow her Debit card to buy the medicine. Kamaljit lends Vera her bank card and her pin numberDiscussionWhat are some things we can do once we know our personal information has been stolen?What did you learn?What is identity fraud and theftWhat kind of information is most commonly stolenHow to know if your personal information may have been stolenWays to prevent identity theftThanks for Attending!See you next time!


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