The Risk of Identity Theft

1. The Risk of Identity Theft

2. What is Identity Theft? • Identity Theft is when an individual uses another persons identifying information, such as name, social security number, or any other part of a persons identity. • Considered the fastest growing crime in America.

3. What Motivates Identity Theft? • Identity Thefts use the stolen information to obtain a line of credit under the victims name, or use the information to gain access to the victims bank accounts, or they sell it in black market. • Many victims may not notice the damages until it is too late due to the anonymity of the internet. • Identity Thefts are motivated by the financial gain that they can receive.

4. GettingInformation • Pharming - Redirecting a website’s traffic to another bogus site • Phishing – Using electric communication • Hacking – Striking someone’s weakness in computer system

5. Business Identity Theft • Criminal can change the corporate registration information of a business • Identity thieves can purchase items that can be bought and exchanged for cash or sold with relative ease

6. Business Identity Theft Cont’d • Damage to the company’s credit history can lead to denial of credit, which can lead to operational problems • Employee and customer private information • Most stores have SECURITY BREACH NOTIFICATION LAWS

7. What should be done? • Check bank balances and transactions history often • Do not divulge sensitive information without full knowledge of how it will be use and why it is needed. • Put all personal information in a paper shredder before throwing it away • Beware of emails or phone calls asking for banking/identity information and report them immediately. When in doubt, call your bank

8. Thank You