Invasion of the Credit Snatchers!

Invasion of the Credit Snatchers Defending against ID theft and protection your identity against all threats. “They’re slowly and quietly taking over!” 16.7 million Americans were the victims of ID theft in 2017 4 out of 5 victims don’t know how their data was obtained 21% of victims experienced theft more than once “No one is safe!” Women are more likely to be targeted than men, but only at a rate of 7.2% vs 6.9% $75K+ income earners are more than twice as likely to be targeted as someone who makes less than $25,000 Michigan residents have the highest rates of theft They’re more than 3 times more likely to be targeted than South Dakota, which has the lowest rates of theft “They will drain you dry!” 14% of ID theft victims experience out-of-pocket losses *49% lost $99 or less $2,895 the average total out-of-pocket loss (direct and indirect) $15.4 billion the total financial loss for victims in a single year Species No 1: The Account Parasite Gains access to one of your existing accounts to make charges or transactions on your dime. 86% of all reported incidents involve misuse of an existing account 16.4 million victims for bank cards and 7.7 million for credit cards How to defend your identity: • Make PIN #’s unique • Use passwords that are difficult to guess (letters, numbers and symbols are best) • Change PINs and passwords regularly • Enable transaction notifications on your smartphone • Sign up for fraud protection with the service provider • Check statements every month, reviewing each transaction • Don’t bank or shop online using public Wi-Fi / unsecure hotspots Species No. 2: The data doppelganger Steals your personal information to open new accounts they can use in your name 1.1 million Americans had their personal information stolen to open a new account 713,000 victims reported other misuses, such as getting medical care or government benefits How to defend your identity: • Don’t give you Social Security (SS) or Driver’s license (DL) numbers • Even if a business requests them, only provide if it’s legally required – always ask • Don’t send info, including SS/DL via email, even to legit recipients – it can be intercepted • Sign up for my Social Security at ssa.gov • Avoiding oversharing personal information on social networks • Check your credit reports for free once each year to identify account you didn’t open • Use free credit freezes to lock down your credit reports Species No. 3: The monster you know A family member, friend, neighbor, coworker or maid who chooses targets close to home. 847,000 victims of fraud knew the thief 24% of medical fraud victims say a family member used their information without their consent How to defend your identity: • Don’t give family access or account info unless they’re a cosigner • Don’t keep a password list where someone else can find it • Don’t give your card/PIN to send someone to the ATM for you • Keep financial documents locked up • Don’t leave your purse or wallet sitting out – keep it locked in your personal space • Don’t save account passwords to public/networked computers at work Species No. 4: The child snatcher Steals identities from the young because it’s hard to track and get caught in the act. 1 million the number of child ID theft victims in the last year alone Two thirds of those victims were age 7 or younger How to defend your children’s identity: • Use free child credit freezes to lock down your children’s credit reports • Keep birth certificates locked in a safe place – they’re used to create new identities • If you teach kids their SS #, make sure to teach them not to share it at the same time • Once they get bank accounts, teach them the ABCs of passwords/account protection • Don’t give a child a credit card until they’re responsible enough to protect their data Sources: https://www.bjs.gov/content/pub/pdf/vit14.pdf https://www.msn.com/en-us/news/crime/states-with-the-most-identity-theft/ss-AAvRgI8#image=51 https://www.creditcards.com/credit-card-news/familiar_fraud-damage-1282.php https://www.cnbc.com/2018/04/24/child-identity-theft-is-a-growing-and-expensive-problem.html https://www.creditrepair.com/blog/identity-theft/victim-of-friends-family-identity-theft/