Transcript ID THEFT ACCOUNT FRAUD Prevention and Clean Up

ID Theft & Account Fraud
Prevention and
Clean Up
MoneyWi$e: ID THEFT & ACCOUNT FRAUD
What you will learn
 During this presentation you will
learn:
• The effects of ID theft and account
fraud
• How ID theft and account fraud
happen
• How to avoid becoming a victim
• How to recognize when fraud has
occurred
• Steps to take if you come a victim
• About helpful resources
MoneyWi$e: ID THEFT & ACCOUNT FRAUD
What is ID theft?
 When someone steals another
person’s personal information to
commit fraud
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Open credit cards, buy goods
Take out loans
Get cell phones
Open bank accounts
Seek employment
 What else can an ID thief do?
MoneyWi$e: ID THEFT & ACCOUNT FRAUD
What is account fraud?
 Unauthorized charges,
withdrawals or new accounts
 Crooks use:
•
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Identification
Credit card numbers
Social security numbers
Bank account information
MoneyWi$e: ID THEFT & ACCOUNT FRAUD
It pays to prevent ID theft
 Victims spend an average of
more than 100 hours
recovering from ID theft.
 It is estimated that victims of ID
theft spend an average of
$1,865 to clear their names if
the crooks opened new
accounts
MoneyWi$e: ID THEFT & ACCOUNT FRAUD
Through no fault of their
own, victims face
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Increased credit card fees
Higher interest rates
Higher insurance premiums
Closure of bank accounts
MoneyWi$e: ID THEFT & ACCOUNT FRAUD
Credit reports
 Check your credit reports
regularly.
 Free credit reports can be
obtained once a year from each
of the 3 credit reporting
agencies:
• Equifax
• Experian
• TransUnion
MoneyWi$e: ID THEFT & ACCOUNT FRAUD
Free credit reports
 Annual Credit Report
• www.annualcreditreport.com
• 877-322-8228
• Annual Credit Report,
Request Service, PO Box
105281, Atlanta, GA 303485281
MoneyWi$e: ID THEFT & ACCOUNT FRAUD
Credit reports
 Get all three agency reports at
the same time, OR
 Stagger the three reports out
during the year
• Get one every four months
MoneyWi$e: ID THEFT & ACCOUNT FRAUD
Social Security number
(SSN)
 Memorize your Social Security
number (SSN)
 Don’t carry your Social Security card
 Don’t print your SSN on your driver’s
license or bank checks
 Keep all papers listing your SSN
hidden or locked away
 Shred all documents with SSNs
before you throw them away
MoneyWi$e: ID THEFT & ACCOUNT FRAUD
Financial information
 Check bills, bank and credit card
statements
• Report any unauthorized
transactions immediately
 Track statements, new credit cards
or check orders in the mail
 Call the companies immediately if
you notice
• Unauthorized transactions
• Missing credit cards or checks
MoneyWi$e: ID THEFT & ACCOUNT FRAUD
Cards and account numbers
 Shield ATM keypads when
entering passwords
 Memorize your PINs
 Watch your cards while they
are with sales clerks or waiters
 Lock your own mailbox
• Use US post boxes for
outgoing mail that contains
account numbers
MoneyWi$e: ID THEFT & ACCOUNT FRAUD
Phone and Internet
 Don’t answer callers or e-mails
asking for personal information
• Remember, you may be
overheard on a cell phone
 Always make sure you are
dealing with reputable
companies
MoneyWi$e: ID THEFT & ACCOUNT FRAUD
Marketing
 Read your bank’s privacy
notice
 Stop or ‘opt out’ of prescreened credit offers
• 888-5OPT-OUT
MoneyWi$e: ID THEFT & ACCOUNT FRAUD
Are you already a victim?
 Check your credit report
 Look for
• Accounts you don’t recognize
• Inaccurate information
MoneyWi$e: ID THEFT & ACCOUNT FRAUD
Monitor your mail
 Missed bills, credit card
statements, etc. may signal
trouble
MoneyWi$e: ID THEFT & ACCOUNT FRAUD
Always question …
 Charges, bills or collection
calls that are not yours
• Complain immediately
 Denials of credit when you
have good credit
• Get a free copy of the credit
report used to make the
decision
• Check for mistakes or fraud
MoneyWi$e: ID THEFT & ACCOUNT FRAUD
ID theft clean up
 Document the crime
 File a police report with your local
police department
• Get a copy of the police report
 Contact appropriate state and federal
law enforcement agencies
 Complete a free ID Theft Affidavit
from the FTC
• www.ftc.gov/idtheft
MoneyWi$e: ID THEFT & ACCOUNT FRAUD
Fraud alerts
 Add a fraud alert to your report
• Initial alert—90 days
• Extended alert—7 years
• Additional free credit reports
 When alerts are in place, allow
time when applying for new
credit
• Instant credit won’t work
MoneyWi$e: ID THEFT & ACCOUNT FRAUD
Credit reporting agencies
 Equifax, 800-525-6285,
www.equifax.com
 Experian, 888-397-3742,
www.experian.com
 TransUnion, 800-680-7289,
www.transunion.com
MoneyWi$e: ID THEFT & ACCOUNT FRAUD
Victims - be watchful
 Dispute fraudulent accounts
immediately
• Close all affected accounts
• Follow up your phone call with a
written request
 Get letters stating disputed accounts
have been closed
 Create new passwords for all of your
accounts
• Avoid easy-to-guess passwords
MoneyWi$e: ID THEFT & ACCOUNT FRAUD
On-going prevention
 Get your credit report. Look for:
• Accounts you don’t recognize
• Incorrect information about
you
 Order free reports
• www.annualcreditreport.com
• 877-322-8228
MoneyWi$e: ID THEFT & ACCOUNT FRAUD
Password accounts
 Place passwords on your credit
card, bank and phone accounts
 Don’t use easy-to-guess names
and numbers
 Ask businesses not to use SSN
or mother’s maiden name
MoneyWi$e: ID THEFT & ACCOUNT FRAUD
Computer safety
 Don’t respond to ‘phish-y’ e-mails
 Enter web addresses (URLs)
carefully
 Bookmark favorite sites
 Check site security—padlock in
browser
 Don’t ‘click’ e-mail links
 Use phone numbers on account
statements or from the phone book
 Stay informed – check the web for
scam alerts
MoneyWi$e: ID THEFT & ACCOUNT FRAUD
Proof of the crime
 File a police report
 Get a case number
 File reports with other
appropriate agencies
 Complete free FTC ID Theft
Affidavit
MoneyWi$e: ID THEFT & ACCOUNT FRAUD
Freeze your credit
 Prevent new credit without your
permission
 Fees and procedures vary from state
to state
 ID theft victims usually can place, lift
or remove the freeze for free
 To freeze, contact the credit
reporting agencies:
• Equifax: 800-685-1111
• Experian: 888-397-3742
• TransUnion: 1-888-909-8872
MoneyWi$e: ID THEFT & ACCOUNT FRAUD
Social Security numbers
 Usually, you can’t get a new
SSN
• For more about SSNs, visit
the Social Security
Administration
• www.ssa.gov
MoneyWi$e: ID THEFT & ACCOUNT FRAUD
Additional resources
• FTC ID Theft Clearinghouse / ID
Theft Hotline
• US Department of Justice
• Federal Bureau of Investigation
• Federal Deposit Insurance
Corporation
• United States Postal Inspection
Service
• United States Secret Service
MoneyWi$e: ID THEFT & ACCOUNT FRAUD
Non-profit organizations
 Consumer Action
• www.consumer-action.org
 Identity Theft Resource Center
• www.idtheftcenter.org
 National Fraud Information Center
• www.fraud.org
 Privacy Rights Clearinghouse
• www.privacyrights.org
MoneyWi$e: ID THEFT & ACCOUNT FRAUD
MoneyWi$e
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MoneyWi$e: ID THEFT & ACCOUNT FRAUD