Identity Theft Statistics Identity Theft Fastest Growing Financial

Identity Theft Statistics • Identity Theft – “Fastest Growing Financial Crime in the United States. ”(1) • 9. 3 million U. S. Adults were Victims of ID Theft in 2004. (2) • Recovery time can take from – 80 -2000 hours depending on severity • $52. 6 billion lost nationwide (1) FBI Financial Crimes Report to Public for May 2005 (Reporting FTC Survey) (2) Better Business Bureau/Javelin Strategy & Research 2005 Identity Fraud Survey Report Lawrence Simon & Company, Inc.

What are your chances in being a victim of identity theft? 1 in 23 compared with 1 in 130 for a car accident, 1 in 2, 600 heart disease, and 1 in 5000 for violent crimes. Source: 2000 US Census, 2004 BTS Report, 2004 FTC Survey Lawrence Simon & Company, Inc.

PRESENTATION OVERVIEW n What is identity theft? n How does identity theft happen? n What can you do? q Deter q Detect q Defend n Where can you learn more?

WHAT IS IDENTITY THEFT? n It occurs when someone steals your personal information – e. g. , credit card or Social Security number – and uses it fraudulently n It can cost you time and money n It can destroy your credit and ruin your good name

HOW DOES IDENTITY THEFT HAPPEN? Identity thieves may: n Go through your trash or “dumpster dive” n Steal your wallet or purse n Steal your mail or submit a change of address form for your mail n Use “phishing” or fake emails to get you to provide personal information n Steal personnel records from their employers

WHAT CAN YOU DO? DETER n Deter identity thieves by safeguarding your information DETECT n Detect suspicious activity by routinely monitoring your financial accounts and billing statements DEFEND n Defend against identity theft as soon as you suspect a problem

DETER identity thieves by safeguarding your information. n Shred financial documents before discarding them n Protect your Social Security number n Don’t give out personal information unless you’re sure who you’re dealing with n Don’t use obvious passwords n Keep your information secure

DETECT suspicious activity by routinely monitoring your financial accounts and billing statements. n Be alert q Mail or bills that don’t arrive q Denials of credit for no reason n Inspect your credit report q Law entitles you to one free report a year from each nationwide credit reporting agencies if you ask for it q Online: www. Annual. Credit. Report. com; by phone: 1 -877 -322 -8228; or by mail: Annual Credit Report Request Service, P. O. Box 105281, Atlanta, GA 30348 -5281 n Inspect your financial statements q Look for charges you didn’t make

DEFEND against identity theft as soon as you suspect a problem. n Place a “Fraud Alert” on your credit reports by calling any one of the three nationwide credit reporting companies: q Equifax: 1 -800 -525 -6285 q Experian: 1 -888 -397 -3742 q Trans. Union: 1 -800 -680 -7289 q Review reports carefully, looking for fraudulent activity n Close accounts that have been tampered with or opened fraudulently n File a police report n Contact the Federal Trade Commission

WHERE CAN YOU LEARN MORE? Online: ftc. gov/idtheft By phone: 1 -877 -ID-THEFT By mail: Identity Theft Clearinghouse Federal Trade Commission 600 Pennsylvania Avenue, NW Washington, DC 20580