chapter 13-2c notes

Personal Personal FinanceFinance

Chapter 13-1cChapter 13-1c

CreditFraud and Identity Theft

• Credit fraud

© EMC Publishing, LLC

CreditFraud• Credit Fraud – is the illegal use of

someone else’s credit information.• It usually involves purchasing goods and

charging them to someone else.


CreditFraud• Credit thieves can get your credit

information by using lost or stolen credit cards, stealing from your mailbox, going through your trash, making a fake phone solicitation.


CreditFraud and Identity Theft

• Credit card fraud• Identity theft


John A. DoeTimothy B. Jones

CreditIdentity Theft• Identity Theft – the act of gathering

enough information about a person to assume their identity and then use that identity to commit fraud.

• It can take years to fix your finances if were a victim of identity theft.


CreditSafeguarding Your Information• What can you do to protect yourself?

– Be careful about giving out personal information.

– When you do need to give personal information make sure it is to a trusted individual or company.


Credit Identity Theft Tips

• Don’t give out your Social Security number unless absolutely necessary (give last four digits only).


• Most places have no right to your number


• Don’t give out personal information to strangers on phone or over Internet.

• Be careful of e-mails wanting your personal information.



• Remove mail from mailbox as quickly as possible (hold mail if going to be gone).



• Carefully examine all bills that come in mail / e-mail.

• Thieves mimic your real bill by including of your information, fake logos, and return envelopes.



• Use shredder to destroy personal information.

• Shred any new credit card applications you will not use.



• Don’t allow others to look over your shoulder or watch you usecredit / debit /ATM cards(skimming).



• Always keep wallet safely in pocket (buttoned) or purse (securely closed).



• Keep all receipts and check against credit card / bank statement for transactions you didn’t make.



• Use secure Web sites if you must send credit or personal information over Internet (https or shttp).


Credit Identity Theft Tips• You may take all these precautions and

still have your personal information stolen.

• Some people buy identity theft insurance.


chapter 13-2c notes

Documents

llc emc publishing

number emc publishing

jones emc publishing

victim of identity theft

identity theft insurance

personal information

elses credit information

personal financechapter