Jason Thompson
Mortgage Professional
NMLS#: 196475
IDENTITY THEFT – FASTEST GROWING CRIME IN AMERICA
Good Afternoon
In today’s newsletter we will discuss and hopefully arm you, your friends, family and neighbors against identity theft.
Identity theft is the fastest growing crime in America. It may have already happened to you personally or someone you know. It is estimated that it will affect almost 10 million people this year and cost consumers several billion dollars.
Identity theft occurs when someone uses your personal information, like your name, social security number, or credit card number, without your permission, to commit fraud or other crimes.
Let’s get educated…..
A) WHY THE INCREASE IN CRIME?
*Relatively low-risk crime
*Potentially high payoff
*Easy to pull off
*Enforcement of law is inconsistent
*70% of theft is from co-workers/employees
*Wasn’t declared crime by Congress until 1998
*Cases usually too small for federal prosecution
B) HOW DOES IT HAPPEN?
*Steal mail
*Steal wallet or purse
*Phishing- sending fake emails (ex. Paypal and Ebay fakes)
*Shoulder surfing- ATM, grocery store checkout spying
*Lying on the phone- asking you to update account info
*Laptops and Wi-Fi internet access
*Access cell phones w/stored personal account information
*Dumpster rummaging- go through trash for information
*Thieves looking for social security numbers, date of birth, etc.
C) THEY STOLE IT, NOW WHAT?
*They open new bank and credit accounts in your name
*They have statements sent to their address
*They don’t make payments
*Authorize electronic transfers- draining your accounts
*Write bad checks
*Take out a loan in your name
*Rent a house in your name
*Driver’s license- your information, their picture
*Give police your information in an arrest
*They don’t show for court- warrant for YOUR arrest!
D) YOU FIND OUT WHEN?
*Start receiving statements in the mail
*Unusual spending pattern- amounts and locations
*Calls from creditors- past due bills
*Apply for car loan/mortgage and issues arise
*Your checks bounce
*Debit and credit cards not accepted- over limit
E) ACT IMMEDIATELY!
*Contact local law enforcement
*File written report and retain a copy
*Contact all three credit bureaus:
-Equifax: (800) 525-6285
-Experian: (888) 397-3742
-Trans Union: (800) 680-7289
*Contact all known creditors
*Contact all banks with accounts
*Immediately stop payment on ALL checks
*Close all accounts tampered with
*File a complaint with the FTC: (877) ID-THEFT
*Keep good records and log all communications
F) HOW CAN I PREVENT IT?
*Adopt a “need to know” approach
*Pay attention to who’s watching or listening
*Secure information on personal computer
*Use obscure passwords for all accounts
*Clear “cookies” on computer
*Don’t raise “red flag” signaling outgoing mail
*Have mail held when you’re away
*Shred mail before discarding
*Don’t carry social security cards in wallet
*Don’t carry unneeded credit cards
*Password lock your cell phone
*Review financial statements regularly
*Get periodic copies of credit report
Good Afternoon
In today’s newsletter we will discuss and hopefully arm you, your friends, family and neighbors against identity theft.
Identity theft is the fastest growing crime in America. It may have already happened to you personally or someone you know. It is estimated that it will affect almost 10 million people this year and cost consumers several billion dollars.
Identity theft occurs when someone uses your personal information, like your name, social security number, or credit card number, without your permission, to commit fraud or other crimes.
Let’s get educated…..
A) WHY THE INCREASE IN CRIME?
*Relatively low-risk crime
*Potentially high payoff
*Easy to pull off
*Enforcement of law is inconsistent
*70% of theft is from co-workers/employees
*Wasn’t declared crime by Congress until 1998
*Cases usually too small for federal prosecution
B) HOW DOES IT HAPPEN?
*Steal mail
*Steal wallet or purse
*Phishing- sending fake emails (ex. Paypal and Ebay fakes)
*Shoulder surfing- ATM, grocery store checkout spying
*Lying on the phone- asking you to update account info
*Laptops and Wi-Fi internet access
*Access cell phones w/stored personal account information
*Dumpster rummaging- go through trash for information
*Thieves looking for social security numbers, date of birth, etc.
C) THEY STOLE IT, NOW WHAT?
*They open new bank and credit accounts in your name
*They have statements sent to their address
*They don’t make payments
*Authorize electronic transfers- draining your accounts
*Write bad checks
*Take out a loan in your name
*Rent a house in your name
*Driver’s license- your information, their picture
*Give police your information in an arrest
*They don’t show for court- warrant for YOUR arrest!
D) YOU FIND OUT WHEN?
*Start receiving statements in the mail
*Unusual spending pattern- amounts and locations
*Calls from creditors- past due bills
*Apply for car loan/mortgage and issues arise
*Your checks bounce
*Debit and credit cards not accepted- over limit
E) ACT IMMEDIATELY!
*Contact local law enforcement
*File written report and retain a copy
*Contact all three credit bureaus:
-Equifax: (800) 525-6285
-Experian: (888) 397-3742
-Trans Union: (800) 680-7289
*Contact all known creditors
*Contact all banks with accounts
*Immediately stop payment on ALL checks
*Close all accounts tampered with
*File a complaint with the FTC: (877) ID-THEFT
*Keep good records and log all communications
F) HOW CAN I PREVENT IT?
*Adopt a “need to know” approach
*Pay attention to who’s watching or listening
*Secure information on personal computer
*Use obscure passwords for all accounts
*Clear “cookies” on computer
*Don’t raise “red flag” signaling outgoing mail
*Have mail held when you’re away
*Shred mail before discarding
*Don’t carry social security cards in wallet
*Don’t carry unneeded credit cards
*Password lock your cell phone
*Review financial statements regularly
*Get periodic copies of credit report
As you can see, identity theft is serious and can greatly affect a person’s life. While some victims can resolve their problems quickly, others spend hundreds or thousands of dollars and many days repairing damage to their good name and credit record.
Some consumers victimized by identity theft may lose out on job opportunities, or be denied loans for education, housing or cars because of negative information on their credit reports. In rare cases, they may even be arrested for crimes they did not commit.
Armed with the knowledge of how to protect yourself and take action, you can make identity thieves' jobs much more difficult. You can also help fight identity theft by educating your friends, family, and members of your community so feel free to pass this newsletter on to them.
Have a great week and start taking the necessary steps today to guard against identity theft. Don’t let someone else steal your life!
Additional Resources and Links:
Equifax
Experian
Trans Union
FTC- File Complaint
Free Credit Report
More on ID Theft
Apply for a Home Loan or Refinance
This newsletter is for informational and educational purposes only. Information, views or opinions expressed in the newsletter originate
from many different sources and contributors. To subscribe or unsubscribe to newsletter,mailto:LouMortgageLeadr@aol.com
All rights reserved. Copyright 2009 Jason Thompson.
Some consumers victimized by identity theft may lose out on job opportunities, or be denied loans for education, housing or cars because of negative information on their credit reports. In rare cases, they may even be arrested for crimes they did not commit.
Armed with the knowledge of how to protect yourself and take action, you can make identity thieves' jobs much more difficult. You can also help fight identity theft by educating your friends, family, and members of your community so feel free to pass this newsletter on to them.
Have a great week and start taking the necessary steps today to guard against identity theft. Don’t let someone else steal your life!
Additional Resources and Links:
Equifax
Experian
Trans Union
FTC- File Complaint
Free Credit Report
More on ID Theft
Apply for a Home Loan or Refinance
This newsletter is for informational and educational purposes only. Information, views or opinions expressed in the newsletter originate
from many different sources and contributors. To subscribe or unsubscribe to newsletter,mailto:LouMortgageLeadr@aol.com
All rights reserved. Copyright 2009 Jason Thompson.
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