Identity Theft What is Identity Theft The

Identity Theft

What is Identity Theft? The unauthorized collection and fraudulent use of someone else’s personal information.

Who is at Risk? • 25 -34 have the highest rate of identity theft. The average fraud amount is $6, 270. 00 • The 35 -44 age population have the highest average fraud amount at $9, 435. 00 Equal Opportunity Crime

Identity Theft Complaints 2005 VICTIMS MONETARY LOSS ON Phonebusters Statistics PROVINCES 4729 $ 4, 450, 122. 62 PQ 2614 $ 1, 864, 574. 23 BC 2010 $ 1, 376, 499. 08 AB 894 $ 431, 221. 89 MB 361 $ 181, 490. 32 NS 177 $ 100, 036. 04 SK 157 $ 87, 641. 63 NB 127 $ 29, 107. 52 UNKNOWN 82 $ 4, 350. 00 NF 58 $ 43, 358. 02 PE 18 $ 5, 907. 63 YK 3 $ 1, 285. 00 NT 1 $0 TOTALS 11231 $ 8, 575, 593. 98

How is your personal information obtained? Manual Methods: • Mail Theft • Dumpster Diving • Old Fashioned Stealing • Shoulder Surfing • Bribing employees to obtain personal information

How is your personal information obtained? Electronic Methods • Skimming • Phishing • Pharming • Hackers or Insiders Accessing Company Databases

How can your information be used? • Credit Card Purchases • “Take Over” Bank Accounts • Divert Mail • Lease or Buy New Vehicle • Establish Wireless Services • Sold to others on the Street or Online

What are identity thieves looking for? • SIN Number, Personal Health Number, DL Information • ATM Receipts • Pre-approved credit applications • Financial records/Tax Returns • Utility/Phone bills

Impact of Identity Theft $422. 00 - The average out-of-pocket cost for Canadian identity fraud victims 600 hours – estimated time repairing damaged credit ratings/ reputations 2. 6 billion dollars – The yearly cost to consumers, businesses, and credit card firms. Emotional distress, Financial loss, damaged reputations Effects on Identity Theft victims

Identity Theft on the Rise • Safeguarding Information Better Protection Needed for Information • Electronic Data ID Thieves never have to lay eyes on their vicitims • Risk-Reward Ratio Average Identity Stolen will net a thief $20, 000 - $30, 000

What can happen to Identity Thieves Related Charges • • • Uttering Forged Documents Personation with intent Fraud Forging a Credit Card False Pretences Penalties • Prison time ranges from 4 months to 5 years *Identity Theft Task Force (VPD)

Prevention and Detection Methods • Report Lost or Stolen Identification Immediately • Limit Amount of ID Carried in Wallet/Purse • Protect Mail & Pay Attention to Billing Cycles • Be Aware of Your Surroundings • Check Your Financial Statements closely

Prevention and Detection Methods • Be Cautious When Using Wireless Internet Services • “Wipe” Your Computer Hard Drives When Selling or Disposing of Them. • Endorse Credit Cards & Debit Cards Upon Receipt • Order your Credit Report Yearly

If You Are the Victim of Identity Theft • Notify your Bank & Credit Card Company Immediately, as well as any utility companies you deal with • Notify Credit Bureaus ( Equifax and Trans Union) • Go to www. phonebusters. com and complete the “Identity Theft Statement” • Contact your Local Police • Contact Phonebusters

Phonebusters. … • Central agency in Canada that Collects Information on Identity Theft &other types of Fraud • Data Collected at Phonebusters is a valuable tool to outside Law enforcement agencies, including US agencies • Helps to evaluate effects of fraud, and provide education to the public FRAUD. Recognize it. Report It. Stop It. www. phonebusters. com

Protecting the Information Your Business Collects • Collection of Data • Use of Data • Data Security and Storage • Disposal of Data • Response Plan

Information Protection Collection of Data • Collect only what you really need Use of Information • • Limit Access To Data Encrypt Data and Use Passwords Be on the Look out For Suspicious Activity Don’t disclose to unauthorized third parties Data Security and Storage • Appoint Data Security Person • Use Virus Protection and Firewalls Disposal of Data • Shred Documents • Utilize Scrubbing Software and Destroy Hardware

For Further Information: To Order a Credit Report: Equifax Trans Union (800) 465 -7166 (877) 525 -3823 www. phonebusters. com www. privcom. gc. ca www. cmcweb. ca/idtheft www. consumer. gov/idtheft/ddd/index. html