Fraud and Identity Theft

Transcription

1 Board of Directors: Corporate Offices and Greece Branch Canal Ponds Business Park 100 Marina Drive Rochester, NY Other branches: Henrietta, Hilton, Irondequoit, Penfield, Seneca Falls and Clarence Jeffrey W. Peters Chairman Elizabeth A. Dudman, Vice Chair Thomas B. Quirk Treasurer William A Reifsteck Secretary Sarah M. Ayer Charles J. Faggiano Gerald K. Gebauer Richard W. Murphy Richard E. Ottalagana Edward A. Szpila Joseph E. Thyroff Michael S. Vadala President & CEO Fraud and Identity Theft A presentation by The Summit Federal Credit Union Overview of Fraud & Identity Theft Major types of fraud Facts and statistics Prevention If you become a victim List of Credit Reporting Agencies List of websites for more information

2 Major types of fraud Debit/ATM card and credit card Checking account fraud (Account take-over) Personal information (Identity theft) Scams-including Check Overpayment scams Foreign Lottery scams Money Transfer scams Phishing and Pharming scams Facts and statistics According to fraud investigators from across the country, stealing someone s identity to acquire and use new credit cards or debit cards has become one of the most popular white collar crimes today.

3 Facts and statistics Every 79 seconds, a thief steals someone s identity to open new accounts or use existing accounts in the victims name and creates withdrawals or goes on a spending spree. This year alone, more than 10 Million Americans will be robbed of their identities with more than $5 billion stolen in their names. How to protect your identity Be careful about giving out personal information. Ask to use other types of identifiers when possible. Never carry your Social Security card - keep it in a secure place. Beware of the Phishing and Pharming tactics. Don t give out your personal information over the internet from an you received asking for it. Make sure the website address you are attempting to visit matched the actual URL address of the website. Look for the secured LOCK on the bottom right side of the webpage ensuring it is in LOCK mode.

4 How to protect your identity Phishing example: How to protect your identity Pharming Scam Look for signs of security Protect your private information while shopping online Look for a padlock in the status bar at the bottom of the browser window, a URL that begins or the words Secure Sockets Layer (SSL). These signs indicate that only you and the merchant can view your payment information.

5 How to protect your identity Pharming Scam example How to protect your identity Pharming Scam Protect your mail - tear or shred Pay attention to billing cycles on your credit card statements. Review your statements to ensure that they are correct. Memorize your PIN never carry it with your cards. Request a copy of your credit reports annually.

6 If you become a victim Keep a record. Because recovering from identity theft or fraud against your good name can be a long and complicated process. Call the police. Report the crime to your local police department or sheriff s department. A report may be necessary to help convince creditors that someone else has used your information falsely. If you become a victim Contact the Federal Trade Commission. The FTC s identity theft hotline is or visit them online at and file their complaint form. Although the FTC does not resolve consumer problems itself, your complaint may lead to law enforcement and government action. Also, the FTC has an Identity Theft Affidavit on their site you may want to use as a format to notify merchants that you are a victim.

7 If you become a victim Check your Credit Reports. Contact all three credit reporting agencies to apply a fraud alert on your reports and check your reports for any new accounts opened in your name without your authorization. New accounts may take up to six months to appear, therefore monitoring would be in your best interest. Credit Reporting Agencies 1. EQUIFAX P.O. Box Atlanta, GA EXPERIAN P.O. Box 1017 Allen, TX TRANS UNION P.O. Box 6790 Fullerton, CA FOR YOUR FREE ANNUAL CREDIT REPORT FROM ALL THREE AGENCIES: or call

8 Resources for more information You may also contact The Summit Federal Credit Union s Loss Prevention Department Visit our website at Or phone us toll-free on SFCU At The Summit, We re Here For You