Identity Theft and Fraud Video Transcript With Citations. Identity Theft and Fraud 101 (Video 1). Meet Dan. Dan has been
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Identity Theft and Fraud Video Transcript With Citations
Identity Theft and Fraud 101 (Video 1) Meet Dan. Dan has been working as a Corporate Co. engineer for the past six years. Recently, Dan applied for a new credit card, only to find a few days later that he was denied. Understandably, Dan is stunned. He’s always been careful with his credit, and has a good, stable income. What gives? Well, there are a few possibilities. Some of them are benign, like Dan not meeting an unusual credit card company policy. Others however, are not as great, in particular, identity theft. This is when someone steals your personal information, like a bank account or a social security number, and then uses it to do everything from opening credit cards, to getting loans, to stealing your tax refund1, all in your name. While this is certainly bad enough, the other problem with identity theft is that even though the accounts are in your name, you may not get the bill for them. This can make it incredibly difficult to discover the crime, and thus it’s not uncommon to find out like Dan did, through an oddly denied application2.
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Identity Theft Overview: https://www.consumer.gov/articles/1015-avoiding-identity-theft#!what-it-is https://www.consumer.gov/articles/1016-recovering-identity-theft#!what-it-is https://www.usa.gov/identity-theft 2 Identity Theft Overview: https://www.consumer.gov/articles/1015-avoiding-identity-theft#!what-it-is https://www.consumer.gov/articles/1016-recovering-identity-theft#!what-it-is https://www.usa.gov/identity-theft
In fact, there’s really only one sure way to find out: your credit report, simply because it details every account you’ve ever opened, willingly or not. If you’re not sure what this report is, or how to get it, be sure to check out our video, ‘Credit Scores and Reports 101”, as well as the free website annualcreditreport.com. So, let’s assume Dan just checked his credit report. What did he find? Well, sure enough, Dan found three mysterious credit card accounts, all with massive overdue payments. Dan is at a loss. What should he do? Well, his first step is actually his only step. Go to the free federal website identitytheft.gov3. This website is fantastic. Not only is it incredibly easy to use and navigate, but it’s also comprehensive, walking you through step by step exactly what you need to do to resolve any type of identity theft problem. In fact, it’s so good, it allow us to skip ahead to our final topic: the ten rules Dan and everyone else needs to follow to avoid future fraud4 and identity theft. ● Rule 1: Check your credit report at least once of year for suspicious activity. If you see some, don’t delay, go to identitytheft.gov5 immediately. ● Rule 2: Regularly check your monthly statements and bills for suspicious charges. In addition, if you can, try to go paperless, as these documents are much harder to steal in their online form. 3
The Website: https://www.identitytheft.gov/ 4 Avoiding Fraud and Identity Theft: http://www.wikihow.com/Prevent-Identity-Theft https://www.consumer.gov/articles/1015-avoiding-identity-theft#!what-to-do https://www.usa.gov/identity-theft https://www.consumer.ftc.gov/articles/0060-10-ways-avoid-fraud https://www.consumer.gov/jobscams 5 The Website: https://www.identitytheft.gov/
● Rule 3: Shred all personal and financial documents before putting them in the trash. ● Rule 4: Keep any personal and financial records you don’t want to shred, like your tax returns and your social security card, in a safe place. ● Rule 5: Be incredibly suspicious when someone asks you to wire money. It’s the modern-age equivalent of paying in cash, and thus almost impossible to get back or trace. No wonder it’s a con artist favorite. ● Rule 6: Don’t respond to emails, texts, or phone calls asking for your personal or financial information, even if they seem official, like an email from your bank. If you’re truly concerned, avoid the message, and instead call the financial institution directly. ● Rule 7: Always shield your pin and password whenever you enter them. ● Rule 8: Use strong passwords, and make sure your computer is protected by a strong firewall and up-to-date anti-virus and anti-malware protection. ● Rule 9: Whenever shopping online, be sure to check the beginning of the URL for a little green lock. This indicates the site is secure. ● Finally, Rule 10: Don’t click on sketchy internet job offers, like those promising you a guaranteed amount of money while working at home. These are scams, plain and simple. Hopefully you and Dan now better understand how to avoid and deal with fraud and identity theft. If you want to see more educational material, or our financial product recommendations, be sure to check out our website.
