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Deter, Detect, Defend: The FTC’s Program on Identity Theft. 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
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Deter, Detect, Defend: The FTC’s Program on Identity Theft
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
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
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
Students Are a Vulnerable Group • Developing financial identity • Targeted age category by ID thieves
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.
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
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
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
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
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
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
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