Identity Theft Protection Training
What is Identity Theft?
Identity theft is a type of fraud whereby one person uses the personal information of another person in a deceptive manner for the purpose of personal gain.
Some Identity Theft Statistics / Identity Theft In The News
Since 2005, the Privacy Rights Clearinghouse has kept track of publicized data breaches. The primary source of this information is from the Data Loss Database – Open Source (DLDOS). As of April 2008, the number of publically known breaches of personal information is at 223,418,945. In reality, this number is likely much higher due to the fact that not all breaches of sensitive personal information are made public. Breaches of personal information are almost a daily occurrence in the news.
Why Steal Someone's Identity?
- Financial gain
- Illegal immigration
- Espionage / terrorism
- Payment systems / medical insurance
- Ghosting – escaping criminal record, bad credit. Ghosting is usually long-lasting.
Types of Identity Theft
The non-profit group Idtheftcenter.org lists five types of identity theft. These include:
- Financial
- Criminal
- Commercial
- Governmental
- Cloning
How Is Your Identity Stolen?
- From your mailbox (credit payments, name address, credit card info, account info) pre-approved offers and convenience checks
- Dumpster diving
- Insider access
- Information brokers
- Stolen purse/wallet
- Phishing / impersonating websites that legitimately ask for personal info
- Fake job advertisements, charities, organizations asking for donations
- Should surfing
Steps You Can Take to Prevent Against Identity Theft
- Locking mailbox
- Be aware of the legitimacy of the websites you use when shopping online (scam emails, paypal, ebay, etc…)
- Minimize use and exposure of Social Security Number. Do not use it as a personal identifier.
- Never give out personal info over the telephone
- Check Social Security Earnings and Benefits every year
- Security freeze (credit)
- Reduce opportunities for ID thieves to access your personal info: credit statements, bills, checks. Do online statements, pickup checks at the bank, have your name removed from major marketing lists.
- Always take credit card, debit card, and ATM receipts with you to dispose of securely.
- Shred all unused pre-approved credit card offers
Commercial Identity Theft Protection Services
- LifeLock
- Identity Guard
- Trusted ID
- LoudSiren
- Equifax w/ Score Power
Steps to Take If You Discover You've Been the Victim of Financial Identity Theft
- For stolen credit cards or a stolen social security number, immediately contact the three major credit reporting agencies and close the affected accounts.
- You can place a 90-day initial fraud alert on your credit files. This alert tells companies who view your credit report that they must take reasonable steps to verify who is applying for credit in your name. The three major credit reporting agencies can provide this service. The alert is renewable.
- You can also place a seven-year extended fraud alert on your credit files if you've filed a police report documenting affected credit cards or other fraud. You will be asked to provide a way for creditors to verify your identity when someone applies for credit in your name. Typically, creditors will call your phone for verification before a credit card can be issued in your name.
- Keep a log of all correspondence between yourself and various credit, banking, and other institutions. You should record people's names, their title, phone numbers, company name, and what was said during the conversation.
- Send all correspondence to the various institutions by certified mail with return receipt requested.
- Confirm all phone conversations in writing.
- Keep all receipts and documentation of all correspondence
- Under the law, you have the right to have a police report taken. This police report should be specific enough that credit reporting companies and other businesses can verify that you've been a victim of identity theft and know which accounts contain fraudulent information. With a police report, you are entitled to: a 7-year fraud alert, a credit freeze in the states that have procedures for such, have fraudulent information blocked from your credit report, and receive a copy of all application and transaction records on accounts opened fraudulently in your name. [idtheftcenter.org]
- Contact all credit issuers, utility companies, and collection agencies that have opened a fraudulent account. Speak only to a fraud investigator. You are wasting your time by talking to a customer service person. Request to close the affected accounts and request that the company mail you a fraud alert or request an address where you can send your FTC affidavit [expand on this above] with identity theft police report. The companies have 15 days to request more information from you after receiving your identity theft report (police report).
Identity Theft and The Recently Deceased
- Obtain at least 12 copies of the death certificate
- Immediately notify the deceased's credit card companies, banks, stock brokers, loan/lien holders, and mortgage companies of the death
- Contact the three major credit reporting agencies and request a "deceased" alert be placed on the credit report
- If there is a surviving spouse or other joint account holders, notify these companies that the deceased's name needs to be removed from the account
- Also notify social security administration, insurance companies, the DMV, professional associations, membership programs such as fitness club, video rental, public library, etc...
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