1	Identity Theft Rose Chaco UNCLE Credit Union Vice President Risk Management & Audit
2	California Leads the Nation in Number of Fraud Complaints Identity Theft 43% Internet Auctions 13% Internet Services, Computers 6% Advance Loan Fees, Credit Protection 5% Shop at Home Catalog Sales 5% Foreign Money Offers 4% Prizes, Sweepstakes, Lotteries 4% Business Opportunities, Work At Home Plans 3%
3	Identity Theft Statistics Fastest growing and most popular form of consumer fraud Most profitable according to the FTC $100 million in losses last year by financial institutions On average $6,767 per victim Credit card fraud hits 1 out of every 20 users Identity theft hits 1 out of every 50 consumers It costs the consumer over $1,000 to clean the damage from identity theft Every 79 seconds a thief steals someone’s identity
4	What is Identity Theft? Acquiring key pieces of someone’s identifying information Name & Address Date of Birth Social Security Number Mother’s Maiden Name Then using that information to: Take Over Existing Accounts Establish New Accounts Obtain Credit Cards, Loan and Services
5	How Savvy Are You? When I keep my ATM cards and credit cards in my wallet, I never write my PIN. When I leave my house, I take with me only the ATM and credit cards I need for personal or business purchases. When I get my monthly credit card bills, I always look carefully at the specific transactions charged to my account before I pay the bill. When I get my monthly bank statements, credit card bills, or other documents with personal financial information on them, I always shred them before putting
6	How Savvy Are You? them in the trash. When I get mail saying “I’ve been pre-approved for a credit card, and don’t want to accept or activate that card, I always shred the pre-approval forms before putting them in the trash. I request a copy of my credit report at least once a year. If the volume of the mail I get at home has dropped off substantially, I always check with my local post office to see if anyone has improperly filed a change of address card in my name. If I think that I may be a victim of identity theft, I
7	How Savvy Are You? Immediately contact: the Federal Trade Commission (www.ftc.gov) to get guidance, the three major credit bureaus to inform them, my local police department to file a report, any business where the identity thief fraudulently conducted transactions in my name.
8	Preventing Credit Card Fraud Sign all new credit cards upon receipt Save receipts and match them to the statement Know when bills normally arrive and call when late Notify creditors in advance of any address change Never loan your credit cards to anyone If new cards don’t arrive when expected- call your creditor Report lost or stolen cards immediately
9	Preventing Internet & On-Line Services Fraud Use caution when disclosing account numbers on-line Transact business on secure servers only (HTTPS://) Beware of con-artists running on-line scams Beware of sites or emails asking you to verify account information Consider having one low credit limit credit card for all your internet purchases
10	Preventing Mail Fraud Use a lockable mail box for received mail Promptly remove mail upon delivery Deposit outgoing mail at the post office Pick up new checks at your credit union Keep spare credit cards and important documents locked up at home or in a safe deposit box Memorize your social security number Memorize your passwords and PINs
11	Protecting Personal Information Shred documents before disposing them (credit card statement, bank card statement, pre-approved loan and credit applications) Beware of solicitors asking for your private information If it sounds too good to be true – It usually is
12	Make A List Keep a complete list of your accounts and keep it locked in a safe place Include account numbers, expiration dates, and 800 numbers Review Social Security Earning Statements annually Review your credit report at least once a year (www.annualcreditreport.com) Consider “Opting Out” of pre-approved credit applications Request your information not to be sold by your creditor
13	If You Become A Victim Notify your local police department Make a folder for your daily correspondence Contact creditors by phone and in writing Notify credit reporting bureaus- activate fraud alerts Equifax 1-800-685-1111 www.equifax.com POB 740241 Atlanta, GA 30374 Experian 1-888-Experian www.experian.com POB 2104 Allen, TX 75013 Trans Union 1-800-916-8800 www.transunion.com POB 1000 Chester, PA 19022 Obtain a copy of your credit report www.annualcreditreport.com Close accounts showing suspicious activity
14	Contact Information Rose Chaco Vice President, Risk Management & Audit UNCLE Credit Union 2100 Las Positas Court Livermore, CA 94551 rose.chaco@unclecu.org (925) 447-5001 x 1183