Protecting Yourself from Identity Theft 1 Someone steals your personal information Name Date of birth Social Security Number Bank account numbers Credit card numbers And uses it to benefit themselves ID: 563255
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How to prevent it, and how to fix it
Protecting Yourself from Identity Theft
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Someone steals your
personal information…NameDate of birth
Social Security Number
Bank account numbersCredit card numbersAnd uses it to benefit themselves. Set up a bank accountGet a credit cardTake out a loanGive false information to the police for a crime
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What is identity theft?Slide3
Financial impactsDrain your bank account
Charge debts in your nameGet medical care on your insuranceFile for a tax refund in your nameDisruptiveMay need to get new accounts, new Social Security number, etc.
Emotional toll: anxiety, stress, feeling powerless, shame
Thieves target seniors because…Often have more money savedMay not monitor finances – takes longer to detectViewed as easier to deceive3Why should I be worried?Slide4
Stealing your…
Wallet or purseMailTrashInformation when you apply for legitimate creditCard skimmingHacking…
Your computer
BusinessesGovernmentYour online presence (Facebook, Pinterest, etc.)Asking youCall, email, or textPretending to be a legitimate business, friend, or relative4How do thieves get my information? Slide5
Or: Someone you trusted abuses that trustMay use your credit card, bank account, etc. without permission, or try to convince you to let them use it
Check your credit card bills for unauthorized chargesCheck your bank records for unauthorized purchases.
Review all of your mail for
unfamiliar credit cards or bills.5Slide6
Denied creditUnknown charges on your credit card
Debt collector contacts you about debts that are not yoursErrors on your credit reportWrong name, address, contact infoCredit lines, accounts, debts you never knew aboutInquiries from companies you never applied to
Receive bills for credit cards or loans that you’ve never heard of
Police charge you with a crime you did not commitIRS rejects your tax return, says you already filed one6How do I know if I am a victim?Slide7
Protect your personal informationKeep important documents somewhere safe: birth certificate, Social Security card, etc.
Never give personal information to people who call or email youLock your mailboxShred documents – don’t just throw them awayMonitor your credit reports
Check your credit reports regularly
www.annualcreditreport.com(877) 322-8228Consider “freezing” your creditBe tech-smartUse password protection for bank accounts and telephonesKeep antivirus/ antispyware software updatedBe careful about posting information online – name, birthdate, address, etc. Check for encryption: “https” url ,or lock icon on browser7How do I protect myself?
Stop it before it happensSlide8
Take your contact information off sales listsOpt-out of telemarketing sales: Do Not Call List
Can delete your phone number from telephone solicitation lists. Calling toll-free (888) 382-1222 from the telephone number you want to delete. www.donotcall.govOpt-out of pre-screened credit offers
Credit bureaus sell your financial information to credit card companies, payday lenders and other financial institutions who then send you invitations to borrow
Thieves can use these offers to open accounts in your nameCall (888)567-8688 or visit www.optoutprescreen.com8WHAT ELSE CAN I DO?Slide9
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What should I do if it happens? Slide10
Call one of the credit bureaus, place an Initial Fraud AlertCan request if you suspect you are a victim of Identity Theft, or are about to be
Exs: wallet stolen, fooled by scammerOnly have to call one credit bureauWhat this does:Can request a free copy of your credit report from each credit bureau
This is in addition to your free annual report
Ask that they only include the last 4 digits of your SSNPotential creditors must use “reasonable” steps to verify your identityBut, they still may get it wrongHow long does it last?Initial fraud alert: stays on your credit report at least 90 days101. Place a “Fraud Alert”Slide11
Can place if you know you have been a victim of Identity Theft
Must provide the credit bureau with an Identity Theft ReportFreeEffects:Lasts 7 years
Potential creditors must
actually contact you before extending creditEntitled to two free credit reports from each credit bureau in the first yearRemoved from marketing lists for “pre-screened” credit offers11Extended Fraud AlertSlide12
Look for:Loans/debts you didn’t take outAccounts you didn’t openWrong information about your (name, address, phone number, employer, arrest records, etc.)
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2. Check Your Credit Reports Slide13
Create an Identity Theft Report
File a complaint with the Federal Trade CommissionFile a police reportSend dispute letters Can send to: Credit cards
Banks
Credit bureaus Businesses (send to “fraud department”)Debt collectorsInclude copies of:Documents showing the errorsYour Identity Theft ReportDo this ASAPDebt Collectors: within 30 daysCredit Cards: dispute within 60 daysBanks: how soon you dispute affects how much you oweBefore charges: $0. Within 2 days: $50. Within 60 days: $500.If you don’t dispute a fraud within 60 days, you can be fully liable13
3. Report ItSlide14
Federal Trade CommissionIdentity Theft Clearinghouse600 Pennsylvania Avenue, N.W.
Washington, D.C. 20580 www.identitytheft.gov(877) ID-THEFT
[(877) 438-4338]
TTY: (866) 653-426114Contacting the FTCSlide15
If you know your SSN has been misused:Social Security Administration P.O. Box 17785
Baltimore, MD 21235(800) 269-0271If a tax return has been filed in your name:Complete an IRS “Identity Theft Affidavit” and submit with copy of ID
(800) 908-4490
If a thief has used your health insurance:Contact the healthcare providers for copies of the medical records15Also contact…Slide16
When you report ID Theft to police, your report goes to a statewide databaseCan request MVD identify you as victim of ID Theft on back of your State ID
Meant to protect victims from being arrested for someone else’s crimes16
New Mexico Identity Theft “Passport”Slide17
Contact your bank, credit cards, etc. Close misused accounts, open new onesChange passwords / PINs for other accounts
Order replacement DEBIT/Credit cardsClose accounts thieves opened in your nameIf your Social Security Number has been used, consider contacting SSA and requesting a new one
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4. Close AccountsSlide18
You can stop credit bureaus from releasing your credit report, unless you specifically authorize itNo one can take out a loan, open a bank account, obtain a credit card in your name
Takes effect within 3 business daysCost?Free for seniors (over 65)Free for victims of identity theftAbout $10 per credit bureau for everyone else
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5. “Freeze” Your CreditSlide19
Send a written request to each of the three credit bureaus:
Equifax Experian Transunion
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How do I freeze my credit?Slide20
How to request a credit freeze
Sample Letter
Date:
ExperianAttn: Security FreezePO Box 9554Allen, TX 75013 To whom it may concern: I wish to have a security freeze placed on my credit. I am over 65. Enclosed is a copy of my government-issued ID and a copy of my proof of current residence.
Name: Address: Previous address(es):
Soc. Sec. #:
Date of birth:
Please place an immediate freeze on my credit records. Thank you.
Sincerely,
Signature
Enclosure
Required:
Copy of government issued identification card
Copy of proof of current residence
Optional:
Copy of police report
Fee
Name
Addresses for the past two years
SSN
Date of birth
COPY of government issued ID
COPY of proof of current residence
Fee (if under 65)
Copy of police report
(victim of ID Theft)
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What Your Letter NeedsSlide21
Each credit bureau will send you a ‘password’ you can use to unfreeze your creditKeep your password in a secure place. Don’t keep in your wallet,
cellphone, laptop computer, or other device that can easily be stolenYou can unfreeze your credit completely, or just for a specific transactionFree for victims of ID Theft, and seniors age 65+
$5 per credit report otherwise
21What if I freeze my credit but I want to get a new credit card?Slide22
www.sclonm.org
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