objective 7.0 understand ways to protect personal and family resources

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Objective 7.0 Understand ways to protect personal and family resources. Objective 7.03 Understand ways to avoid identity theft. Identity Theft. Essential Questions. What is identity theft? How does one protect himself or herself from being a victim of identity theft ? - PowerPoint PPT Presentation

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7.03 Understand ways to avoid identity theft.

Objective 7.0 Understand ways to protect personal and family resourcesObjective 7.03 Understand ways to avoid identity theft.

Identity Theft

Essential QuestionsWhat is identity theft?How does one protect himself or herself from being a victim of identity theft?What should I do if I am victimized?

What Is Identity Theft?

A type of fraudIllegal use of a consumers personal identification, credit, or account informationInformation that thieves steal: Date of birthBank and investment account numbersSocial Security numberInternet passwordsCredit card information, credit cards

video link- phishing scams

video link: how stuff works-id theft

Results of Identity Theft

Results of identity theft for victims: Financial losses of actual transactionsLoss of time and money trying to correct problemSubstantial stress dealing with long term actions to correct

Technology causing problemsTechnological Advances Increase Opportunities for Exposure to Identity TheftElectronic funds transfers (EFT) enable financial transactions by computerDirect deposits and withdrawals onlinePay-by-phone transfersPoint-of-sale transfers (debit card)Online banking: Account numbers, date of birth, passwords in cyberspace

Electronic Funds Transfer Act Provides protection for : ATM, debit cards, cash cardsIf loss is reported: Within 2 days=$50 maximumWithin 60 days, $500 maximum, and After 60 days, may be liable for all chargesWho is your best advocate?YOU ARE!It is important to pay attention to your financial transactions!Electronic Funds Transfer Definition: carrying out financial transactions by computer rather than using checks or cashExamples: direct deposit payroll checkAutomatic draft of monthly utility bill

Types of Identity Theft

video link- problems & solutions video link- credit card swipes

Data Collection and Privacy IssuesMany businesses have legitimate reasons for obtaining personal informationPayroll, human resources, personnel departmentSocial security, bank account #sSome websites use online profilingSecurity of websitesCautions about use of the Social Security numberPartial # only printed on receipts, etc. Do not carry in your wallet

Other businesses use personal information, such as your name, address, credit card number, and information about purchasing preferences and patterns for other purposesMarketing other productsFood Lion MVP card -send coupons, special ads

What daily activities require providing personal informationWhat personal information are you carrying in your wallet now?Drivers licenseSocial security cardCredit cardsDebit cardsHealth Insurance cardCheck bookStudent ID cardMaking purchases with a check, credit or debit cardApplying for a credit card or loanOnline or telephone shoppingPaying bills through the mail or onlineGoing to the doctor

Ways Identity Thieves Obtain Personal Information to Commit Crime and FraudObtaining personal information submitted on the InternetPosing as representatives of banks, Internet service providers, or government agencies to get one to provide personal information on the telephone or by emailLooking over the shoulder when one is writing checks or using teller machinesUsing phones with cameras, videos to photo & re-enter PIN codesUsing ATM skimmers to capture credit card number from the magnetic stripUsing card readers to swipe a card and capture the card number

video link - ATM skimming device Subject: Jury Duty SS# Scam

Pass this info on: This has been verified by the FBI (their link is also included below). Please pass this on to everyone in your email address book. It is spreading fast so be prepared should you get this call. Most of us take those summonses for jury duty seriously, but enough people skip out on their civic duty that a new and ominous kind of fraud has surfaced.

The caller claims to be a jury DUTY coordinator. If you protest that you never received a summons for jury duty, the Scammer asks you for your Social Security number and date of birth so he or she can verify the information and cancel the arrest warrant. Give out any of this information and bingo; your identity was just stolen.

The fraud has been reported so far in 11 states, including Oklahoma , Illinois , and Colorado , AZ and more. This (swindle) is particularly insidious because they use intimidation over the phone to try to bully people into giving information by pretending they are with the court system.

The FBI and the federal court system have issued nationwide alerts on their web sites, warning consumers about the fraud.

Check it out here: http://www.fbi.gov/page2/june06/jury_scams060206.htm

And here: http://www.snopes.com/crime/fraud/juryduty.aspYep! It's true

Cabarrus County Schools Email Safety Reminder Good Afternoon Its a good time to remind everyone about SCAM or PHISHING email. Phishing refers to the process of tricking recipients into sharing sensitive information with an unknown third party. Those who PHISH make an email appear legitimate. Security Reminders-1) CCS does not send out email asking for private information (i.e., social security numbers, credit card numbers, etc). Sometimes we have vendor looking logo email asking for the end user to provide information. If you receive, delete the email. 2) CCS does not send out email regarding changing of a password. Delete the email. 3) Never share your password. 4) When in doubt about whether or not to respond to an email, DONT until you have verified legitimacy. Ask a technology facilitator or call the IT Help Desk (704-786-9805, ext. 2). Dr. Katherine PropstAssistant SuperintendentCabarrus County Schools

Ways Identity Thieves Obtain Personal Information to Commit Crime and FraudStealing wallets or purses containing identification information, credit cards, or checkbooksStealing mail, which may include bank, credit card, payroll, and tax informationCompleting a change of address card to have mail sent to another addressGoing through trash from homes/businesses to find identification, bank, or credit informationObtaining personal information from ones home mail or bodytheft

Ways Identity Thieves Illegally Use Personal InformationMake charges to your accounts and credit cardsOpen new credit accounts to make purchases

Ways Identity Thieves Illegally Use Personal InformationTo sign up for services such as telephone, cellular telephone, or wireless service, and utilities Open a bank account and write bad checksThe predator is stripping whatever money is in your account!Write checks on ones bank account Get a job using your informationRent an apartmentObtain cash with bank cardsObtain your tax refund from IRS

video link- identity theft in Florida

Steps to Minimize Potential for Identity Theft

Shred documents with personal information before discarding!Do you know WHO YOU ARE CHATTING WITH?

Steps to Minimize Potential for Identity TheftReport missing credit cards and identifying information to three credit-reporting agenciesReport missing credit cards to credit card companyVerify your credit card charges upon receipt of your card

Steps to Minimize Potential for Identity TheftContact your bank if you are missing ATM cards or checksReconcile your bank statement to verify all withdrawals are for your authorized transactions

Steps to Minimize Potential for Identity TheftReport missing Social Security numbers or card to the Social Security AdministrationSeek other help from the Federal Trade Commission and the Identity Theft Resource CenterDont carry your SS card in wallet!

Steps to Minimize Potential for Identity TheftIssue a stop payment if checks or credit cards are lost or stolenWhen establishing accounts at financial institutions, make sure they are insured by agencies that protect deposits in case the institution failsFederal Deposit Insurance Corporation (FDIC)Savings Association Insurance Funds (SAIF)National Credit Union Administration (NCUA)

Steps to Minimize Potential for Identity TheftWhat is Opt Out?Definition: Method by which individuals can avoid receiving unsolicited product or service info; usually associated with telemarketing, e-mail marketing, online marketing or direct mail

Make an informed choice about sharing personal information---opt out

Before clicking I agree -Read your online site agreement, you often give up your right to opt out and your information is broadly circulated to marketersI want to OPT OUT

To remove your phone # from telemarketing lists use National Registry or state registrieshttps://www.donotcall.gov/

To remove your personal information from financial institutions/insurance company listsIndividual company privacy statements have phone #s to contact

Computer securityUse anti-virus and anti-spyware software and update them regularly

Do not click on links found in pop-up ads

Only download software from trusted websites

Set web browser security to medium-high or high

Keep operating system and web browser software updatedClear hard drives before discarding, selling, or trading in computer equipment

Computer securityWhen shopping online, Look for https or a picture of a lock after the URL or in the bottom right hand corner indicating the site issecure

Enter the website address yourself rather than following a link from an email or internet advertisement

Use a credit card instead of a debit card when making online purchases

https s = secureComputer securityDo not give out personal information from unsolicited contactsUnsolicited = callers who contact you

Do not give out any personal information unless making a purchase (when you contacted company)