Identity Theft Presentation

Identity Theft Presentation
Slide 1
Identity Theft
How to Secure Your Identity and
Protect Your Financial Information
Nearly half of all credit card fraud world-wide takes place in the Untied States.
(CBS Television News This Morning regarding the Target breach, February 5, 2014)
740 Million records were compromised in 2013 - “the worst year” ever
(Sacramento Bee, Tiny “Chip” Can Make Bank Card Smarter, February 5, 2014,
citing Online Trust Alliance, a Seattle-based Nonprofit advising businesses on data
$21 Billion was lost to identity fraud in 2012 (Javelin Strategy & Research, 2013)
and data breaches are adding to this rising cost (recent 2013 Target data breach)
12.6 million adults were victims of identity fraud in 2012 (Javelin Strategy &
Research, 2103)
Identity theft has been the TOP consumer complaint to the FTC for 13
consecutive years (FTC’s Tax Identity Theft Awareness Week Offers Consumer’s
Advice, Guidance, FTC press release January 10, 2014)
Online Sales has led to a significant increase in online fraud (Javelin Strategy
& Research, 2013)
FACE. (President Barak Obama, December 2009)
Slide 2
Identity Theft
• Just when you think you have figured out
how to protect yourself, criminals change the
game to scam your identity in a “new” way.
• “It won’t happen to me.”
THINK ABOUT IT: What do thieves do all day long while we are at work or with
the family. It is their “job” to find our vulnerabilities. They can do it from an
armchair and without even getting dressed.
It will happen to you given enough time in this “data-drenched” world we live In.
Even Ben Bernanke and his wife have become victims of ID theft. (They quickly
caught the thieves with the help of the FBI, which are not available to most of us.)
Chairman of the U.S. Federal Reserve, article called “Bernanke victimized by Identity
Fraud Ring,” magazine, August 28, 2009.)
The most recent growing trends to be aware of (and discussed later):
Every two seconds, another American becomes a victim of identity theft (CNN
Money, February 6, 2014).
The number of identity fraud victims jumped to 13.1 million in 2013 (CNN Money,
February 6, 2014, citing the 2013 Javelin Strategy Research Study).
Data Breaches: Involve hundreds of thousands to millions of victims from a single
source of loss.
• 740 million records were compromised in 2013 - “the worst year ever.”
(Sacramento Bee, “Tiny Chip Can Make a Bank Card Smarter,” February 5, 2014,
citing a data-breach study by The Online Trust Alliance, a Seattle based Nonprofit)
• 1 in 4 data breach notification recipients become a real identity theft victim. If your
SSN is part of the breach, you are 5 times more likely to become a victim over the
average consumer (Javelin Strategy & Research, “Data Breaches becoming a
Treasure Trove for Fraudsters, 2013).
• Criminal are even more adept at using stolen card information in a data breach:
About 46% will become victims of fraud– a new record! (CNN Money February 6,
Tax Fraud: The IRS reports an increase of 66% (14.6 million suspicious returns) in
2013 affecting $50 billion dollars in fraudulent tax refunds. (Associated Press, Wall
Street Journal, IRS Says Identity Theft Grew Sharply Last year, January 8, 2014)
Medical Identity Theft: Considered one of the fastest growing forms of fraud with an
increase in 2013 of 19% (reported), affecting 313,000 new victims and generated more
than $12.3 billion in out-of-pocket expenses. (Business Insurance, Medical Identity Theft
a Growing Problem: Survey, September 12, 2013. Survey in 2013 by Ponemon
Institute, Portland, Oregon)
• Many (30%) knew the person (family/friend) that used their personal identification or
medical credentials- all of which can create permanent inaccuracies in the
victim’s medical records.
• The “AFFORDABLE CARE ACT” is already being discussed by Congress and
private security experts as being easily vulnerable to sophisticated hackers.
• “Scammers lick their chops over health care confusion…………………..con men and
unscrupulous marketers are seizing their opportunities…………. Ranging from
deceptive sales practices to identity theft, linked to the Affordable Care Act.” (New
York Times, Scammers lick their chops over health care Confusion, published in the
Sacramento Bee, October 10, 2013)
 Current claims: Medical identity theft (#1 sector for ID theft growth)
 President Obama and Congress have declared all medical records are to
be computerized over the next 2 years. This is a ripe field for hackers to get
more private information to facilitate ID theft by creation of medical bills which
are not yours! You first hear about it when the collection calls begin.
 There is no FCRA type of protection and solutions. There are only HIPPA
violations, but enforcement belongs to the federal government, not you, and
the damage awards go to the feds. There is a private right of action for
invasion of privacy and negligence; however, you must retain an attorney to
pursue these results.
 Stolen medical information/card is worth 10:1 in dollars over a Social
Security Number on the black Internet – due to how much cost/damage can
be done before the medical bureaucracy figures out the theft and comes
looking for us.
 94% of all “healthcare facilities” admit to some form of breach or effort to steal
healthcare information. It all starts with getting your password-- and then
going to the U.S. Government database for more information.
 Solutions: Review your medical records from your Dr. each year and
what is online. (Fox TV News, “Medical Records required to be Online,”
June 12, 2013)
Slide 3
The Identity Theft Crisis
• Target: “Largest U.S. Data Breach”
1,000,000+ victims affected and growing!
• TJ Maxx: “war driving” from 20 miles away
• Countrywide Mortgage: “an inside job”
Some of the largest examples of identity fraud include:
Target: The breach is a classic example of how difficult it is to “Target” sources of
identity theft and the magnitude of its breach. Initial reporting of the Target breach
indicated that incident was isolated to shoppers between November 27th to December
15th, using their point of sale devices. As further reports were released the numbers
grew to 110,000,000! Just weeks later, an ABC News release indicates that the breach
appears to be part of a much wider and very sophisticated scam involving a malicious
malware program that vacuums personal data from terminals. The malware used has
the ability to “cover its own tracks” and make it impossible to measure the scale of the
breach. Retailers, once affected may not be able to determine how much data has been
stolen. The reports suggest this now has the potential to have reached a large number
of retailers and their payment terminals.
TJ Maxx - War Driving: When it comes to credit and ATM card fraud, this is definitely
a case of epic proportions! Eleven people from five different countries were indicted for
stealing 40 million credit or ATM card numbers. Their plot spanned several years and
began with a simple practice known as “war driving.” Criminals parked their cars in retail
parking lots and searched for wireless signals on their laptops or electronic handheld
devices. Once the security hole is found, the thieves buy an antenna and can tap in up
to 20 miles away. When retailers without encrypted servers popped up they would
simply log onto those networks and access the files where customer credit or ATM
account numbers were stored. This information was then sold on the international black
market or used for the thieves’ own gain. This is the TJ MAXX/Marshalls story.
Countrywide - “The inside job”: Imagine the information you give to a mortgage
broker to get a home loan! They have it all - as much or more than is on your tax return.
Here, the salesperson came into the CW office on weekends, usually on Sunday, and
would download approximately 20,000 COMPLETE mortgage records onto a flash drive
and go home. He then sold the data to mafia-type organizations worldwide. And these
weekend visits to the office went on for almost 2 years before CW realized it was
happening. Now that is a security breach of monumental proportions over a very, very
long period of time! (This bust took place in Washington DC. The thieves were smoking
marijuana in their car. The FBI found hundreds of loan records in the trunk at the bust!
How long might this have gone on beyond 2-years but for the stupidity of the fraudsters
smoking marijuana when apprehended?)
Slide 4
ID Theft Prevention: “Theme”
• “T. S. I.” is the New Theme:
“Think” – about what you are doing
“Slow Down” – and pay attention
“Inconvenience Yourself” – go to the ATM for cash.
Don’t use your bank debit card online or at the store.
Take your mail to a locked box.
• The global fraudsters/mafias count on the human element of moving too fast and
looking for “convenience”-- and humans not paying attention each time we use/share
our personal information or medical information.
• BEAT THE FRAUDSTERS: You can win most of the battle against the fraudsters by
NOT opening yourself up to easy access and a direct path to your bank account and
• ”Is this a secure webpage by a company I know?”
• “What am I getting ready to do - which card should I use?”
• “Should I simply go to the ATM first and use cash?
Slide 5
The Identity Theft Crisis
• Identity theft tops the government list
of all consumer-related fraud.
• Tax fraud is on the rise (IRS).
• Trends are always changing based on
future market opportunities.
 FTC states that identity theft is one of the fastest growing crimes in America.
 Plain and simple: Identity Theft is “fraud”, and it is a state and federal crime.
Unfortunately, we are typically on our own to deal with the dramatic fall-out.
 IRS-Tax-fraud is quickly becoming the fastest growing form of Identity Theft. The
IRS refunded more than $4 billion in fraudulent tax refunds in 2013 (
• Future trends with smart phones, iPads, tablets (and things that have not been
invented): All have their data loss risks if you don’t “Think, Slow Down and
Inconvenience Yourself.”
Slide 6
ID Theft Assistance
• Victims must act very quickly.
• The average ID theft victim spends 175 hours
and an average of $4,000.
• Average bank account loss is $2,000.
• It can take months and even years to
clear credit or tax-related problems.
•The burden to resolve identity theft losses rests almost solely on the victim.
There is no Calvary coming to the rescue to help you.
•Currently, there is little assistance given to consumers who need to fight
creditors, collection companies and their law firms in an effort to clean up victim
credit reports.
•The “victim” is generally considered to be the creditor, not you! (The
creditor/collection firm simply wants money, whether it is your debt or not
– they don’t care!)
•The average consumer spends over 175 hours and average $4,000 per
occurrence resolving ID theft issues (FTC and PrivacyTrustGroup February 25,
•(This is the cost to recover your identity, not the actual money lost. The money
is usually gone forever; the average bank account loss is $2,000.)
•It will take a victim of ID theft months or even years to clear up resulting credit or
tax-related problems. (FTC and PrivacyTrustGroup, February 25, 2013).
•Problem: The global fraudsters re-sell your information over and over and
over. It simply “ages” and costs less as time goes by on the Black Internet
maintained by the criminals.
•If a consumer does not respond to a creditor within two weeks of identity theft,
the chances of recovery are greatly decreased and allows the criminal to do more
damage (FTC and PrivacyTrustGroup, February 25,2013).
•Wire Fraud Transfers: Watch your statements no less than weekly (daily is best)!
Monthly review can be too long. You may need a Fraud Advocate or an attorney if the
bank wires the money and refuses to credit your account – even if the bank sees that it
was “suspicious” to start with. These are often very large transactions, and you must
act immediately once you know of the transfer. “Delay is not your friend.”
Slide 7
How Bad People Get Good Credit
Change of address & unlocked mail boxes
Open new accounts & post fake jobs
Counterfeit checks & wire transfers
Declare bankruptcy
Driver’s license fraud
Tax returns & refunds
Arrests in the victim’s name
Stolen license plates
call your creditor and change your address without your knowledge. An
unlocked mailbox is a total invitation to a “backpack job.”
•They open new accounts using your stolen personal information.
•They post “fake” job openings (i.e. Craig’s List) to entice you to send a full
resume with all of your critical information-- to easily sit up new accounts (at a
different address so you never see the bills.)
•They can counterfeit your checks and/or debit cards using basic computer and
printing programs.
•Bank can refuse to return stolen money under the “60-day banking rule” where
the victim does not read and challenge losses over 2 months.
•They file bankruptcy in your name, especially since the bills were not sent to you
after the address change. You learn about it when you go to borrow or rent/buy an
apartment or house.
•Thieves can take out loans to purchase homes, cars, big screen TV's and boats.
Smart phones and internet accounts that go unpaid are a major problem.
•Fraudsters use your drivers license in another state or community to get work
and open accounts.
•Thieves can file fraudulent tax returns (for your refund) in your name and SSN.
Or incur income tax liability and file no tax returns at all. The IRS simply rejects your tax
return as invalid.
•They will use your stolen Social Security number for identification in applying for
use your name and identity when arrested. Then they don’t show in
court and arrest warrants are issued – often plugged into a national police computer,
including the F.B.I.
•Stolen License Plates: Report it to the police! And your insurance premium costs will
likely increase due to new “points” for failure to pay fines to DMV.
• One motive for stealing license plates is traffic cameras. Thieves know photoenforced traffic fines are mailed to the registered owner of the vehicle, a stolen plate
put onto their vehicle is a ticket for them to commit all the violations they want. Illegal
U-turns, running red lights and even parking violations—no matter what it is, they’ll be
happy to break the law since you’re the one who is eventually stuck with the bill–and
the possible conviction and insurance “points” as well.
Sometimes, if a thief is looking to commit a crime involving a getaway car, the savvy
ones will put stolen plates on their car prior to committing the act. Crimes can be
robberies, hit and runs, or even stealing gasoline from stations. Even if a witness
writes down the plate number, as long as they’ve got someone else’s plate on their
car, they’re breathing easily knowing the police will come knocking on your door-- not
• Often the crime has already been committed, and thieves need a cover-up. This
occurs most often with stolen vehicles. Thieves have been known to go on a stealing
spree sometimes, stealing plates off dozens of cars, particularly at night in
neighborhoods where cars are parked on the street or in crowded mall parking lots
where they can get the pick of the litter. If you’ve noticed your plate has been stolen,
immediately report it to the police.
Slide 8
How Bad People Get Good Credit
Shoulder surfing or dumpster diving
Phishing and skimming
Stealing wallets/purses
Internet theft (online banking)
Obtain your credit report
Credit card receipts – shred
“Pre-approved” credit – stop it
Spoofing your “caller ID”
is easy in crowded places for thieves to look over your shoulder to get your
information when you enter a PIN number. They also use binoculars and smart phones.
is a “business” for thieves to look for treasure troves of personal information
in garbage cans and dumpsters; it includes credit/account card numbers, full credit
files, mortgage applications, bank information and Social Security numbers.
•It is relatively easy to make a web-site look like a legitimate business. Thieves
copy corporate logos and online information then send “branded” emails to “phish”/
scam unsuspecting customers into divulging personal information.
card “skimming” is on the rise. “Card trapping” devices can be installed
on ATM card slots. The trap scans the card and stores its information or traps the
card and does not return it. Thieves retrieve the information and/or the card at a later
time. Skimming can occur at retail terminal by clerks who scan your card twice, once
for the actual transaction and once to be used later. Or the waiter/waitress has a
“private” skimmer. Cameras are also attached at the ATM to record your PIN key
strokes to match up later with your card – then it is time to create a “card blank” with
your number and off to the bank WITH your PIN to empty it as fast as your daily
withdrawals allow!
your wallet or purse for your address, credit cards, bank information,
medical cards, SSNs of your children etc.
intruding can happen when WI-FI is not encrypted. How do you know the
site you are using at the local coffee company is encrypted and secure?!
pose as your employer and/or creditor to obtain copies of your credit
card receipts that are left at restaurants and stores or thrown away. They
can be picked up by the wait-staff or later in the “dumpster dive.”
complete “pre-approved” credit card offers and obtain cards (at a new
address - not yours) without your knowledge. SUBMIT YOUR INFORMATION TO
• Register to reduce pre-approved, unsolicited
credit and insurance offers. (You can choose to opt-out from these offers for 5
years or permanently.)
• By registering, you will dramatically reduce the number of
annoying phone calls you receive from telemarketers, which will ultimately
reduce your risk of falling for a scam. (Telemarketing firms must check this
website every 3 months and are required to delete leads from registrants on the
“do not call” list.)
stealing and manipulating smart/cell phone caller ID numbers thieves can get
a return text message or call to get private data and Social Security numbers.
(This is equal to a “Phish” via email.) You think you are getting a call from your bank or
creditor. “Caller ID” no longer works for ID theft purposes; it can be “spoofed.”
Slide 9
Protect Yourself
“Synthetic identity theft”
SS Cards & birth certificates
Credit cards
PayPass & pay/Wave Cards
•“Synthetic Identity Theft” is the KEY to creation of new accounts on the internet.
The computer “fields” for information only look for the correct format; the actual
entries are then completely false - including your address. Once the landing page
accepts the “form” a completely “new and non-existent” person is created out of thin air
and now lives as a “synthetic person” on the internet. The information does not have
to match or be the same person! The real bonus is when the thief can start with a
real name or SSN and/or DOB.
not carry your Social Security card, passport, or birth certificate in your
wallet or purse – leave them at home in a safe. When traveling, secure your
documents where pickpockets or thieves can not get to them. (Use the room safe.)
you have multiple credit cards, limit the number you carry with you. Think about
it: How many cards do you really need daily, even when traveling?
not jot your Social Security number or PIN numbers on cards or elsewhere in
your purse or wallet. Memorize them.
you pay your bills, do not leave them in your UNLOCKED mailbox for the
mail carrier. Take them to the Post Office or mailbox. Do not leave your mail in the
open out-box at work. “Inconvenience yourself!”
ordering new checks, pick them up at your bank, so they are not mailed to you.
Do not print your name and address on the checks – use two initials and no
address. Your checks will always be cashed by the recipient. Better yet: Consider
moving away from writing checks at all!
possible, install a locked mailbox at your home to deter mail theft. Thieves love
it when you go to work or run errands. It is their full time “job” to steal information
from unsuspecting people.
a detailed inventory, or photocopy all your credit cards, bank accounts and
investments. Include account numbers, expiration dates and telephone numbers (a
major help if your wallet or purse is stolen). Store them in a safe or safe-deposit box
at the bank. (Alternative: If you are a victim, pull your credit report online at: See your handout too. Your report will provide phone
numbers to call and cancel your accounts and get new cards re-issued.)
•PayPass and pay/Wave Cards (Distributed by MasterCard and Visa): This new
technology allows the “convenience” of “waving your card” near the reader terminal
(actual swiping in the machine is not required). It uses RFID (Radio Frequency
Identification) technology. Think: RFID data-readers are easily bought by
scammers to pick-up the radio frequency right out of your wallet or purse.
Imagine it being done at a professional sporting event convention, airport or concert. If
your card has a “speaker symbol” on the back, have MS or Visa re-issue your
card without the embedded RFID in your card.
Slide 10
Other Ways to Protect Yourself
Hold your mail
Personal information
Credit card receipts
PIN numbers
Social Security/account numbers
Shredder – cross shred
you are going away from home for more than two days, always have your mail held
at the Post Office or ask a trusted friend to pick it up.
you initiate the call, NEVER provide anyone with your personal information
over the phone.
paying with a credit card, always take the copy of the receipt with you. Put
the receipt in your wallet or purse. Do not leave it in the shopping bag. NEVER toss
them in a public trash container. After you verify the correct amount on your statement,
cross-shred the receipts when you get home. If possible, watch for “skimming” of
your credit card.
creating a password and personal identification number (PIN) do not use
the last four digits of your Social Security number, mother’s maiden name, birth date,
middle name, pet’s name, consecutive numbers, or anything else that could be easily
discovered by thieves. Create passwords that combine letters and numbers and never
write down your PIN’s on the card or carry them in your wallet or purse.
from Google: Pick a song and your favorite 4 words from the song and
separate each with an underscore: EX: A_hard_days_night. [Fraudsters maintain
“black website” sites to buy/sell/trade our private information (and PINS) that open and
close in minutes and use pay-pal type systems (bitcoin too) for payments.]
your hand, arm or elbow as a shield when using your PIN at an ATM
machine or debit machine or when using your phone calling card. Do not use ATM’s
in unfamiliar stores or with unfamiliar ATM company names. (Think about who put this
ATM here and do I know this company? If not, move to a safer location and a known
give your Social Security number when absolutely necessary (tax forms,
employment records, most banking, stock and property transactions). Say “no thankyou” to every one else!
your Social Security Personal Earnings and Benefits Estimate
Statement each year to check for fraud. If someone is using your number as an
identification number (State Motor Vehicle Dept., medical benefit companies) contact
them and request a different number.
a cross-shredder and always shred sensitive documents, especially
unsolicited credit card offers. And credit card receipts.
a trusted friend pick up your paper daily when you are away. (Think: Who
is the paper-carrier you rarely see and don’t really know at all? Who are the carrier’s
friends and do they tell them that you will be out of town when you cancel your paper for
a week or two for a trip/vacation?)
Slide 11
Internet and Computer Security
Secure sites and Wi-Fi
“Wipe” utility program
Automatic log-in
WANT YOUR PASSWORD! Why: We use the same one over and
over at multiple locations, especially with financial matters. Use a “strong” password that
is a combination of letters (upper and lower case), numbers and symbols.
Google: Try (4) words from a favorite song separated by underscores; it is
extremely difficult to know your favorite song and which words you chose--– EG:
partners and sharing passwords: All is well so long as both parties are
getting along. However, sharing your PW should never take place for the “convenience”
of having your partner pick up some cash at the ATM on the way home. THINK: What
happens when the relationship falls apart? What is the first thing a jilted partner might
do knowing your PW? Your account is now totally exposed to a $ZERO balance! And
the bank tells you it is a “PIN transaction” and says so sorry and too bad for
you………… It happens all the time!
purchasing on the Internet make certain the site is a “secure site”
( or
GENERAL! (Your “debit card” is a 1-way street right to very dollar in your account if the
thief can get your PIN! (Credit cards only have a $50 liability limit by law.) It is
much better to deal with a maximum of $50 loss than to fight with your bank over a “PIN
transaction” where you signed documents that the bank is NOT responsible for PIN
transactions and now ALL of your money is gone.
a firewall on your home computer to prevent hackers from obtaining
personal identifying and financial data from your computer’s hard drive. And use
a reputable Internet company with encrypted transmission. This is especially
important if you connect through a cable or DSL company. (WI-FI Internet locations
are generally not encrypted. Avoid on-line banking and online purchases on WI-FI.)
Usually, to get the Password you sign off that the site is NOT encrypted at the coffee
shop etc.
Utility Program when gifting/re-cycling your hard drive. Delete any
personal information stored on your computer before you dispose of it. Use a “wipe”
utility program that makes files unrecoverable. (Or, personally pull your hard drive and
physically destroy it.)
using the automatic log-in feature on your smart-phone, iPad, tablet,
desktop and laptop. Always log-off. If stolen, a thief will have a difficult time
accessing information. Always log off of on-line banking, all financial transactions and
purchases and your email, Gmail etc. (Your email is a treasure trove of where you
bank, what you buy, where and who your friends and business associates are for some
“phishing” in your name.)
•Files or emails or hyper-links from strangers: Don’t download - DELETE THEM!
These files often contain programming “cookies” to later monitor and then steal
your private data. (This process was part of the TARGET heist of 2013-2014.)
take your computerized hotel room key with you and destroy it. Some hotels
input credit information on the key cards.
Slide 12
Music Sharing Programs
• BEWARE: Music Sharing Programs
• “Kids” must let you know about downloads before
• Security Statements: must be read
• Exceptions: iTunes, YouTube, personal photo sites
• Extreme Caution is to be exercised: Thieves use “music sharing programs” to
infiltrate your computer and leave “cookies” behind, so that they can later access
your computer at will - 24/7/365! (Remember the Thanksgiving/Christmas
Target breach?)
• Most such programs (over 200 and growing) are NOT secure and NOT
encrypted to protect the private information on your computer.
• The kids download these programs without your knowledge in order to “share
some music with my friends.” The have no concept of the exposure they have
created for your entire hard drive and everything on it: tax returns, forms, loan
applications, FASFA applications, saved credit reports, mortgage packages and etc..
• 2. Instruct your kids they cannot download programs without your
permission AND in your presence.
• 3. You need to carefully read the full security statements of the software
company to be certain the site is SECURE AND FULLY ENCRYPTED MOST ARE NOT!
NBC was able to easily access complete tax returns, 25,799 student loan
applications (FASFA) and over 625,900 credit reports.
Slide 13
Reduce Vulnerability at Work
• Personal information
• Checkbooks
• Purse/wallet
• Employee ID numbers
• Personnel files
• Credit Cards
• Outgoing mail location
• “TSI”
•Lock sensitive personal information in a drawer or file cabinet. Do not store
personal information on your desktop. Don’t print sensitive information unless it is
nearby, and you are immediately going to get the documents.
•Do not leave negotiable instruments such as checks at work; leave them at
home. (Think: Just who are the individuals who clean your office after hours? Do you
really know and trust them?)
•Never leave your purse or wallet unattended.
•Do not use your Social Security number as your employee ID number. Always
keep your computer log-in password private.
•Personnel files must always be locked up.
•Credit cards: Just how many do you really need to carry for day-to-day use?
And never leave them available to others.
•When ordering merchandise over the phone, check to see who is within earshot
when you give a credit card number.
•Don’t put your bills, checks, or other correspondence in an unguarded outgoing
mail drop at work. (Think: Who has easy access to the mail drop if it is unlocked or
unattended, especially visitors or salespersons calling on your company?)
Slide 14
Emergency Response Protocol
• Check home, rental & auto insurance
• Contact work HR Department for available
employer benefits
• File police report
• Victims should pull all three credit
• Home, rental and auto insurance: Over the past several years, insurance
companies have been adding ID theft benefits to policies. Although sometimes
limited, these benefits are available to you at no additional expense to you. Simply
file an insurance claim as required by the insurance company.
• Human Resources Department at work: Many companies now provide various
levels of assistance to victims – some are basic “guided self-help” assistance, while
others provide full Power of Attorney solutions and victim representation. Be sure to
ask your HR Manager about what benefits might be available to you as an employee.
• IMPORTANT: Victims need to pull reports from ALL THREE Credit Reporting
Agencies (CRA). Different companies provide different information to the CRAs (or
non at all). As a result, each report will be different from the other. A single report
may show no fraudulent accounts at all, while the others may report serious
fraudulent entries and damage.
• You need to carefully pull and read all 3 reports and then challenge the
entries with each online or by standard mail.
Slide 15
Emergency Response Protocol
• Creditors: Fraud Alert/Security Freeze
• Report to U.S. Post Office and Motor
Vehicle Dept.
• Close accounts
• Be very organized
• Be a member of a quality ID Theft
Prevention/Response Plan
• Go to:
do NOT file police reports - innocent victims do. File a police report and
retain a copy. If not allowed to do so, make note of the location, date, time, name and
badge number of the refusing officer.
•Get the ID number of the report.
•Collection firms, creditors and law firms will demand a copy of the police report
or proof of effort to file one. (They will presume you are pulling a “con” job and
using ID theft as an excuse to not pay a legitimate debt.)
a “Fraud Alert” on your Credit Report OR a “Security Freeze”. Review your
credit report monthly for the coming year. (Think: How much damage can a crook do to
you in 30 days?)
•“Fraud Alerts” are good for 90 days. An FA to one CRA is then automatically
filed with all three. If you are a victim and filed a police report, it is good for 7
years. Remember, it is an “alert” and nothing more. It may or may not work well.
•“Security Freezes” are permanent and controlled eventually by a password.
You can get a SF by standard mail and online. They are free with a police report
copy. They do NOT affect your existing credit lines – only new accounts are
“frozen out” and will not be created. EACH CRA must be contacted to place an
•A SF is the most secure way to protect your credit report and can be lifted
and reestablished with your password. Many people do a SF, regardless of
being a victim, to simply freeze new lines of credit (fees are paid to lift and
reestablish the SF each time). (Think: How often do you really apply for “new”
credit? You can lift your SF in a day or two by password.
the fraud departments of all creditors. Ask for the contact information
(employee ID#) from individuals to whom you are reporting your fraud case. Always
keep copies of any correspondence and/or forms. Send mail certified with the green
return receipt for proof of receipt. You may need it later for creditors and collection
companies. Keep your old files even though you believe the case is closed.
the fraudulent activity to the authorities (United States Postal Service and Motor
Vehicles Dept.) and forward this report to all creditors.
any accounts you know or believe have been tampered with or opened
fraudulently. (Think: If the thief already has your private information, expect another
effort by the thief to reach your “new” account number. You should probably change
banks and use new PIN numbers if a 2nd effort is made.)
organized! Keep detailed notes as to when and what happened, who you
talked to and sent reports. Keep copies of all correspondence and credit reports.
a member of an established, experienced quality Identity Theft Response
You get (1) free report from each CRA each
year. Rotate through them every 4 months, so you get 3 free reports year after year.
They are considered “soft pulls” and do not affect your credit score.
and PRIVACYRIGHTS.ORG: Both are current and terrific sites that offer
education, resources and tips.
Slide 16
• Employee Assistance Program Services
Employee and Family Resources
• Legal Referrals
No-cost legal consultations and discounted legal services
Creditors, collection companies, legal defense and regulatory entities
• Financial Consultations
Strategies to rebuild credit scores damaged by ID theft
• Call 1-800-327-4692
Counseling services and legal and/or financial referral assistance
Slide 17 “Tax Advisory Website” Link
• IRS Resources
Tips for taxpayers & fraudulent returns – 2014
• FTC Resources
ID theft information & solutions for victims
• Emergency Response Kit (for fraud victims)
• Preventative Steps to Avoid ID Theft & Fraud
Slide 18
Experian Credit Reporting Agency Services
• Credit Monitoring (three bureaus)
Provided at no cost
• Credit Freezing (“security freeze”)
• Credit education
• Experian Customer Care: 1-877-371-7902
Slide 19
We hope you have gained valuable insights
that will help you make informed decisions.
Slide 20
Disclaimer & Copyright
This presentation, together with any handout materials, were created and/or distributed by
CLC Incorporated (CLC).
The presenter hereof may be an employee of CLC. Alternatively, the presenter hereof may
be an independent provider of financial and/or insurance services. In this case, the
presenter and his/her broker-dealer and/or insurance agency are neither agents nor
employees of CLC, and have been retained as an independent contractor for the sole and
exclusive purpose of making this CLC approved presentation.
The information presented is not to be a substitute for seeking advice specific to your
situation from a legal or financial professional. If legal or financial advice is required, contact
an attorney or financial advisor.
The content hereof, together with any attachments, are subject to Federal and State
Copyright and Trademark protections. This content may not be used, reproduced or
distributed in any manner, in whole or in part, without the prior written consent of CLC
Was this manual useful for you? yes no
Thank you for your participation!

* Your assessment is very important for improving the work of artificial intelligence, which forms the content of this project

Download PDF