Business and Labour Assignment

This brochure is about identity theft and insurance

What is Identity Theft?

Identity theft, as defined by the Federal Trade Commission, "is the situation where someone wrongfully acquires and uses a consumer's personal identification, credit, or account information for malicious purposes."

Examples of Identity Theft

-Acquiring your name and birthdate,

-Address and telephone number(s)

-Social Security Number

-Driver's LicenseNumber

Ways you can protect yourself from Identity Theft

Minimize your risk

Only use your personal information when absolutely necessary.

-When using your Social Security Number, only give it to trusted organizations and sites

-Discard unwanted accounts that contain personal information

-Dispose of personal information no longer needed responsibly and safely

Safeguard your valuables

-Only carry around what you need when you go out, this can include your wallet inside a secure purse

-Don't carry around your Social Security number, birth certificate, or passport information

-Verify the source that you're sharing information with

Make sure your internet use is secure

-When shopping, only give out personal information on secure websites, marked with "https", and use credit cards over debit cards

-Understand the risks and be able to identify SpyWare on your computer, and possible signs that may show your identity has been stolen, such as:

a) false information relating to credit card purchases, or information about yourself on websites

What credit reports show

What they contain

-Your social security number, birthdate and employment information which is used to identify you

-Trade Lines, or your credit accounts, and lenders report on each account you have made with them. They also show the type of account (bankcard, auto loan, mortgage, etc), the date you created the account, your credit limit or loan amount, the account balance and your history of purchases

-Credit Inquiries that appear after asking for a loan, and make inquiries show up on the report, as well as show the list of people who've accessed the information

-Public Record and Collection Items, including bankruptcies and suits

How you can improve yours

-Check your credit report frequently

-Create reminders to help you stay track of when your payments are due (paying bills on time)

-Reduce the amount of money you owe to others and organizations