Protecting Yourself from Fraud including Identity Theft Slide 2
Take Charge Today August 2013 Protecting Yourself From Fraud Slide
2 Funded by a grant from Take Charge America, Inc. to the Norton
School of Family and Consumer Sciences Take Charge America
Institute at the University of Arizona 2.6.4.G1 Identity Theft
Commercial #1 Slide 3 Take Charge Today August 2013 Protecting
Yourself From Fraud Slide 3 Funded by a grant from Take Charge
America, Inc. to the Norton School of Family and Consumer Sciences
Take Charge America Institute at the University of Arizona 2.6.4.G1
Passwords are like underwear Dont share them with friends. Come up
with some of your own. Slide 4 Take Charge Today August 2013
Protecting Yourself From Fraud Slide 4 Funded by a grant from Take
Charge America, Inc. to the Norton School of Family and Consumer
Sciences Take Charge America Institute at the University of Arizona
2.6.4.G1 Slide 5 Take Charge Today August 2013 Protecting Yourself
From Fraud Slide 5 Funded by a grant from Take Charge America, Inc.
to the Norton School of Family and Consumer Sciences Take Charge
America Institute at the University of Arizona 2.6.4.G1 Dont Let It
Happen To You Use the Fraud of the Month article from the Consumer
Jungle website (www.consumerjungle.org) to answer the questions on
the Dont Let It Happen To You worksheet.www.consumerjungle.org
Slide 6 Take Charge Today August 2013 Protecting Yourself From
Fraud Slide 6 Funded by a grant from Take Charge America, Inc. to
the Norton School of Family and Consumer Sciences Take Charge
America Institute at the University of Arizona 2.6.4.G1 Fraud an
intentional effort to deceive another individual for personal gain.
Write on the white board what fraud means to YOU. This may include:
An example of when you have heard the word used in the past. A type
of fraud. The impact fraud may have on an individuals well-being.
Slide 7 Take Charge Today August 2013 Protecting Yourself From
Fraud Slide 7 Funded by a grant from Take Charge America, Inc. to
the Norton School of Family and Consumer Sciences Take Charge
America Institute at the University of Arizona 2.6.4.G1 Fraud
Arrests for crimes not committed Damaged financial security
Tarnished credit reports Fraud an intentional effort to deceive
another individual for personal gain Compromised health Slide 8
Take Charge Today August 2013 Protecting Yourself From Fraud Slide
8 Funded by a grant from Take Charge America, Inc. to the Norton
School of Family and Consumer Sciences Take Charge America
Institute at the University of Arizona 2.6.4.G1 Common Types of
Fraud Identity Theft When anothers personal information is used
without their permission Communications Occurs via mass marketing,
mail, wire, telephone, Internet, etc. to deceitfully get money from
people Identity theft was the largest consumer fraud complaint
reported to the Federal Trade Commission in 2010 Slide 9 Take
Charge Today August 2013 Protecting Yourself From Fraud Slide 9
Funded by a grant from Take Charge America, Inc. to the Norton
School of Family and Consumer Sciences Take Charge America
Institute at the University of Arizona 2.6.4.G1 Common Types of
Fraud Credit Applying for and modifying credit (most common
involves mortgages) Investment Investors are deceived by
individuals claiming to be financial advisors or have an investment
guaranteed to make money Tax Scammers making claims that a person
may be exempt from paying taxes Do you know anyone that has been a
victim of fraud? Slide 10 Take Charge Today August 2013 Protecting
Yourself From Fraud Slide 10 Funded by a grant from Take Charge
America, Inc. to the Norton School of Family and Consumer Sciences
Take Charge America Institute at the University of Arizona 2.6.4.G1
Time How does fraud negatively impact financial well- being? Stress
Costs money Anxiety Slide 11 Take Charge Today August 2013
Protecting Yourself From Fraud Slide 11 Funded by a grant from Take
Charge America, Inc. to the Norton School of Family and Consumer
Sciences Take Charge America Institute at the University of Arizona
2.6.4.G1 Identity Theft Commercial #2 Slide 12 Take Charge Today
August 2013 Protecting Yourself From Fraud Slide 12 Funded by a
grant from Take Charge America, Inc. to the Norton School of Family
and Consumer Sciences Take Charge America Institute at the
University of Arizona 2.6.4.G1 How Does Fraud Occur? Failed
Promises Accessing Personal Information Personal Infor- mation Name
Address & Telephone Number Social Security Number Drivers
License Number Birthdate Credit Card Numbers Bank Account Numbers
What can a scammer do if they gain access to your information?
Slide 13 Take Charge Today August 2013 Protecting Yourself From
Fraud Slide 13 Funded by a grant from Take Charge America, Inc. to
the Norton School of Family and Consumer Sciences Take Charge
America Institute at the University of Arizona 2.6.4.G1 Personal
Information Search your purses, wallets and backpacks. What are you
carrying with you right now that reveals personal information?
Drivers license Debit & credit cards Electronic devices
Identification cards Slide 14 Take Charge Today August 2013
Protecting Yourself From Fraud Slide 14 Funded by a grant from Take
Charge America, Inc. to the Norton School of Family and Consumer
Sciences Take Charge America Institute at the University of Arizona
2.6.4.G1 How Thieves Access Personal Information Stealing a purse,
wallet, financial records, mail, etc. Diverting mail Skimming
credit and debit card information Phishing for personal information
via email Hacking a computer to install spyware Slide 15 Take
Charge Today August 2013 Protecting Yourself From Fraud Slide 15
Funded by a grant from Take Charge America, Inc. to the Norton
School of Family and Consumer Sciences Take Charge America
Institute at the University of Arizona 2.6.4.G1 Bethany purchased a
new pair of shoes from the Internet. What steps should she take to
ensure her identity was protected while making the purchase?
Source: FEFE 3.1 Slide 16 Take Charge Today August 2013 Protecting
Yourself From Fraud Slide 16 Funded by a grant from Take Charge
America, Inc. to the Norton School of Family and Consumer Sciences
Take Charge America Institute at the University of Arizona 2.6.4.G1
Dana went out to dinner and left her credit card there. The next
day she called the restaurant and they said they didn t have the
card. What should she do? Source: FEFE 3.1 Slide 17 Take Charge
Today August 2013 Protecting Yourself From Fraud Slide 17 Funded by
a grant from Take Charge America, Inc. to the Norton School of
Family and Consumer Sciences Take Charge America Institute at the
University of Arizona 2.6.4.G1 Jacob has just finished writing
bills. What steps should he take to ensure the bills reach their
destination safely? Source: FEFE 3.1 Slide 18 Take Charge Today
August 2013 Protecting Yourself From Fraud Slide 18 Funded by a
grant from Take Charge America, Inc. to the Norton School of Family
and Consumer Sciences Take Charge America Institute at the
University of Arizona 2.6.4.G1 Sam purchased a bicycle on credit.
When he received his credit card statement, he noticed several
charges he did not make. What should he do? Source: FEFE 3.1 Slide
19 Take Charge Today August 2013 Protecting Yourself From Fraud
Slide 19 Funded by a grant from Take Charge America, Inc. to the
Norton School of Family and Consumer Sciences Take Charge America
Institute at the University of Arizona 2.6.4.G1 Protecting Yourself
From Fraud You are better off in a community than by yourself.
Government creates and manages agencies designed to protect you
from fraud But, you are also responsible for yourself. The best way
to avoid fraud it to be alert to the risk and protect yourself
Slide 20 Take Charge Today August 2013 Protecting Yourself From
Fraud Slide 20 Funded by a grant from Take Charge America, Inc. to
the Norton School of Family and Consumer Sciences Take Charge
America Institute at the University of Arizona 2.6.4.G1 Protect
Your Personal Information Dont carry your Social Security Card Sign
credit and debit cards with signature and Please See ID Memorize
and use difficult PIN numbers Shred personal documents before
discarding them Keep personal records in a secure location Deposit
outgoing mail in a secure post office collection box Be careful of
what personal information is posted on the Internet Slide 21 Take
Charge Today August 2013 Protecting Yourself From Fraud Slide 21
Funded by a grant from Take Charge America, Inc. to the Norton
School of Family and Consumer Sciences Take Charge America
Institute at the University of Arizona 2.6.4.G1 Immediately dispute
errors Check Your Credit Reports Verify sources requesting
information Evaluate Situations Consistently monitor information
such as credit statements, depository institution statements, etc
Monitor Financial Information Slide 22 Take Charge Today August
2013 Protecting Yourself From Fraud Slide 22 Funded by a grant from
Take Charge America, Inc. to the Norton School of Family and
Consumer Sciences Take Charge America Institute at the University
of Arizona 2.6.4.G1 Identity Theft Commercial #3 Slide 23 Take
Charge Today August 2013 Protecting Yourself From Fraud Slide 23
Funded by a grant from Take Charge America, Inc. to the Norton
School of Family and Consumer Sciences Take Charge America
Institute at the University of Arizona 2.6.4.G1 Be Careful When
Using the Internet Look for https or a picture of a lock Keep
usernames and passwords safe Use a credit card when making online
purchases Search for your name Once information is posted online,
it cant be taken back! Use privacy settings on social networking
sites Slide 24 Take Charge Today August 2013 Protecting Yourself
From Fraud Slide 24 Funded by a grant from Take Charge America,
Inc. to the Norton School of Family and Consumer Sciences Take
Charge America Institute at the University of Arizona 2.6.4.G1
Practice electronic device safety Use updated anti- virus and anti-
spyware software Watch for strange actions that may indicate
spyware Do not click on links found in pop-up advertisements or
suspicious email Slide 25 Take Charge Today August 2013 Protecting
Yourself From Fraud Slide 25 Funded by a grant from Take Charge
America, Inc. to the Norton School of Family and Consumer Sciences
Take Charge America Institute at the University of Arizona 2.6.4.G1
Credit and Debit Cards Credit Cards Maximum liability is $50 No
liability if a lost card is reported before being fraudulently used
No liability if the card number is used, but not the card itself
Debit Cards Liability depends on how quickly the card is reported
and depository institution policies Ranges from $0-unlimited! Use a
credit card instead of a debit card for online purchases! Slide 26
Take Charge Today August 2013 Protecting Yourself From Fraud Slide
26 Funded by a grant from Take Charge America, Inc. to the Norton
School of Family and Consumer Sciences Take Charge America
Institute at the University of Arizona 2.6.4.G1 Fraud Protection
Services Fraud monitoring and detection Cost recovery if fraud
occurs Legal counsel if fraud occurs Companies may offer various
types of services including: You are your best advocate! Closely
evaluate services to know what is covered, fees and company
reputation Slide 27 Take Charge Today August 2013 Protecting
Yourself From Fraud Slide 27 Funded by a grant from Take Charge
America, Inc. to the Norton School of Family and Consumer Sciences
Take Charge America Institute at the University of Arizona 2.6.4.G1
Recognize Fraud Early Act Immediately if A business that has taken
your money wont return your calls Unfamiliar or unrecognizable
charges You are denied credit Mail is missing Errors in your credit
report Slide 28 Take Charge Today August 2013 Protecting Yourself
From Fraud Slide 28 Funded by a grant from Take Charge America,
Inc. to the Norton School of Family and Consumer Sciences Take
Charge America Institute at the University of Arizona 2.6.4.G1 If
You Are a Victim Act Immediately Keep detailed records File a
report with your local law enforcement Report to the appropriate
federal agency The Stop Fraud website will tell you which agency to
report to and provide specific tips depending on the type of fraud
Slide 29 Take Charge Today August 2013 Protecting Yourself From
Fraud Slide 29 Funded by a grant from Take Charge America, Inc. to
the Norton School of Family and Consumer Sciences Take Charge
America Institute at the University of Arizona 2.6.4.G1 Identity
Theft Commercial #4 Slide 30 Take Charge Today August 2013
Protecting Yourself From Fraud Slide 30 Funded by a grant from Take
Charge America, Inc. to the Norton School of Family and Consumer
Sciences Take Charge America Institute at the University of Arizona
2.6.4.G1 Identify four ways to deter identity theft, three ways to
detect it, and two ways to defend it. Deter, Detect, Defend Video
Slide 31 Take Charge Today August 2013 Protecting Yourself From
Fraud Slide 31 Funded by a grant from Take Charge America, Inc. to
the Norton School of Family and Consumer Sciences Take Charge
America Institute at the University of Arizona 2.6.4.G1 Ponzi
Scheme Slide 32 Scams & Schemes Slide 33 Scam Fraudulent or
deceptive schemes Slide 34 Pyramid Scheme A type of financial fraud
in which people pay to join an organization in exchange for the
right to sell memberships to other people. Slide 35 Ponzi Scheme
Closely related to a pyramid scheme but the promoter generally has
no product to sell and pays no commission to investors who recruit
new members. Slide 36 Affinity Fraud A name for a type of scam that
targets members of a specific demographic. Perpetrators may attempt
to relate to or exploit characteristics common to the demographic.
Targeted groups can include the elderly, ethnic groups, and
religions. Slide 37 Predatory Lending 37 Slide 38 PREDATORY LENDING
Sell properties for much more than they are worth, using false
appraisals. Encourage borrowers to lie about their income,
expenses, or cash available for down payments in order to get a
loan. Knowingly lend more money than a borrower can afford to
repay. And many other scams. 38 In communities across America,
people are losing their homes and their investments because of
predatory lenders, corrupt appraisers, mortgage brokers, and home
improvement contractors who: Slide 39 IDENTIFYING PREDATORY LENDING
Packaging a loan with single-premium credit insurance products
Repeatedly refinancing a loan in a short period of time Charging
excessive rates and fees to a borrower who qualifies for lower
rates and fees 39 Predatory lending is not defined by federal law
except to the extent that a loan is a high-cost loan and contains
one of a fixed list of terms or conditions. Predatory or abusive
lending practices can include: Slide 40 TEN WARNING SIGNS OF
PREDATORY MORTGAGES 1.Unreasonably high interest rates 2.Multiple
refinancing 3.Unnecessary debt consolidation 4.Balloon payment
5.Negative amortization 6.Door-to-door solicitation 7.Back-dating
of documents 8.Large loan broker fees 9.Kickbacks between lender
and broker 10.Single-premium credit life insurance 40 Slide 41
COMMON SCAMS Advance fee schemes The prize that will cost you
Online auctions Fraud jobs Moneymaking schemes Bogus charities Scam
schools 41 Slide 42 HOW DO THIEVES WORK? Slide 43 Skimming Slide 44
Dumpster Diving Slide 45 Slide 46 Slide 47 Slide 48 Slide 49
Computer Spyware Slide 50 Account Redirection Slide 51 Phishing
Slide 52 Pharming Slide 53 Wireless Hacking Slide 54 Stealing Slide
55 Shoulder Surfing Slide 56 TOP STRATEGIES TO AVOID SCAMS Dont
become a victim. Investigate strangers who have deals too good to
be true. Always stay in charge of your money. Dont be fooled by
appearances. Watch out for salespeople who prey on fears. Monitor
your investments. Report fraud or abuse. Do your homework. Be wary
of door-to-door solicitations. 56
