Deter, Detect, Defend: The FTC’s Program on Identity Theft

1. Deter, Detect, Defend: The FTC’s Program on Identity Theft

2. What is Identity Theft? • When someone else uses your personally identifying information without your knowledge or permission to • Obtain Credit Cards • Get Wireless or phone products, services • Get Loans and Mortgages • Obtain Employment • Avoid Criminal Penalties • Commit Other Frauds or Crimes

3. What Kind of Information Does an Identity Thief Need? • Identity thieves use: • Social Security Number • Name and Address • Date of Birth • Mother’s Maiden Name • Driver’s License • Credit Card, Bank and other Account Numbers

4. Consequences of Identity Theft • Identity thief seldom pays bills for debts incurred under your name • You may not discover for months or years • You are saddled with bad credit report • Due to bad credit report, you may be denied or charged higher rates for new credit, loans, mortgages, utility service, or employment • If criminal record created in your name, you may fail background checks for employment, firearms, etc., may even spend time in jail

5. Students Are a Vulnerable Group • Developing financial identity • Targeted age category by ID thieves

6. Protecting Yourself

7. Protecting Yourself

8. Protecting Yourself

9. Personal Computer Security • Keep your anti-virus and anti-spyware software updated • Use a firewall • Set up security protocols properly if file sharing or using Wi-fi • Use a delete program to wipe your hard drive before getting rid of your old computer • Visit http://onguardonline.govfor more tips.

10. Know what to do if your information gets lost or stolen • SSNs – place a fraud alert, check credit reports • Existing accounts – close and open new ones, place strong passwords • Driver’s license, etc. – contact issuing agency

11. How Can You Tell if You’re a Victim? • Check credit reports – www.AnnualCreditReport.com or 1-877-322-8228 • Monitor financial accounts • Failure to receive bills or other mail signaling theft or an address change by the identity thief • Receiving credit cards for which you did not apply • Denial of credit, or offer of poor credit terms such as high interest rate, for no apparent reason • Receiving calls or letters from debt collectors or businesses about merchandise or services you did not buy

13. What Should Victims Do? • Immediately: • Call fraud lines of CRAs and get fraud alerts placed on credit reports; review your free credit report for inaccuracies • Close affected accounts: Contact creditors’ fraud departments, ask if they accept IDT Affidavit, if not, ask for their fraud forms • File a complaint with FTC, take complaint to police • Report to local police, get copy of report

14. Protections for Victims • Know your legal rights • Fair Credit Reporting Act • Fair Debt Collection Practices Act • The Truth in Lending Act • The Electronic Fund Transfer Act • Contact state or federal agencies if you need additional help with specific problems

15. Credit Report Clean-Up If Victim Provides CRAs with Identity Theft Report: • CRAs will block the inaccurate information on victim’s credit report resulting from identity theft • When victim’s credit report is sent out, it will be correct

16. Filing a Complaint with the FTC File online at www.ftc.gov/idtheft or by calling 1-877-IDTHEFT • Get helpful information • Use complaint to get an identity theft report from the police • Report law violations by companies • Helps law enforcement • Informs FTC of problem trends

17. Resources • www.ftc.gov/idtheft • http://onguardonline.gov • 1-877-ID THEFT (438-4338) • Deter, Detect, Defend: Avoid ID Theft and Take Charge: Fighting Back Against ID Theft • ID Theft Affidavit