Protecting Yourself From Identity Fraud
Act Immediately If
A business that has taken your money won't return calls; unfamiliar and unrecognizable charges; denied credit; mail missing; errors in credit report
What Is Fraud?
An intentional effort to deceive another individual for personal gain.
Credit Fraud
Applying for and modifying credit (most common involves mortgages)
Four way to protect your personal information are
Don't carry your social security card, sign credit and debit cards with signature, memorize and use difficult pin numbers, shred personal documents
Four types of personal information are
Drivers license, debit and credit cards, electronic devices, identification cards
Fraud Protection Services
Fraud monitoring and protection; cost recovery if fraud occurs; legal counsel if fraud occurs
Why should a person monitor their credit reports and financial information
Immediately dispute errors, catch fraud early
Investment Fraud
Investors are deceived by individuals claiming to be financial advisors or have an investment guaranteed to make money
What is the stop fraud website
Learn how to identify and report frauds and scams run by the government
What are fours ways to be careful online
Look four https or a picture of a lock; keep usernames and passwords safe; use a credit card when making online purchases; don't post personal info online
Consumer Financial Protection Bureau
Makes markets for consumer financial products and services work for Americans
Communications Fraud
Occurs via mass marketing, mail, wire, telephone, internet, etc. to deceitfully get money from people
Federal Trade Commission
Prevents business practices that are anti competitive, deceptive, or unfair to consumers
Federal Drug Administration
Protects public health
Federal Communications Commission
Regulates interstate and international communications by radio, television, wire, satellite, and cable
Tax Fraud
Scammers making claims that a person may be exempt from paying taxes
Three ways thieves access personal information
Stealing a purse, mail, or some object with personal information; skimming credit and debit card information; phishing for personal info via email
How does fraud negatively impact and individuals well-being
Stressful, cost money, and cost time
Identity Theft
When another's personal information is used without permission
If You Are A Victim
act immediately; keep detailed records; file report with law enforcement; report to fed agency; go to the stop fraud website
Debit Cards
liability depends on how quick card reported and depository institution policies, ranges from 0 to unlimited
Credit Cards
maximum liability $50, no liability if report lost before purchases made, no liability if card number is used and not the card itself
Electronic Device Safety
use updated anti-virus and anti-spyware software; don't click links found in pop up ads or suspicious emails; watch for strange actions that indicate spyware
What can happen to you because of fraud?
you can be arrested for crimes you didn't commit, have damaged financial security, tarnished credit report, compromised health
