Identity Theft and How to Prevent Them in the Digital Age
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The presentation on identity theft, led by Jamshed Masood, highlights the alarming rise in identity theft incidents in the digital age, citing over 46,000 new victims daily in 2017 and significant financial losses. It details various types of identity theft, including financial and medical identity theft, the methods used by criminals, and the serious consequences for victims. The presentation also provides practical advice and 'golden rules' to protect personal information and combat identity theft.
Identity Theft and How to Prevent Them in the Digital Age
- 1. Identity Theft & Prevention PRESENTATION BY JAMSHED MASOOD
- 2. Identity Theft in the Digital Age!!! • “46000 New IdentityTheftVictim Every Day in 2017” (Javelin Strategy & Research’s 2017 IdentityTheft Report for USA) • More than 17 million victims had more than $ 17 billion stolen over the year.
- 3. What’s Identity Theft? • Identity fraud is defined as the unauthorized use of another person’s personal information to achieve illicit financial gains • Identity fraud can range from simply using a stolen payment card account, to making a fraudulent purchase, to taking control of existing accounts or opening new accounts. • It’s a serious crime that can wreak havoc with • Finances • Credit history • Insurance • And Reputation
- 4. ID Theft – the breakdown
- 5. Types of ID Theft • Children with: • CNIC • No associated information • No one to pay attention – for years • Deceased Individuals with: • CNICs and accounts to close • Personal data • Pre-occupied families • Synthetic Identities: • False information mixed with real to create a new identity • YOU with your: – Bank and credit accounts – Investments – Insurance – CNIC and Govt documents
- 6. Purposes of ID Theft • To obtain financial and / or medical services and benefits • To conceal identity, with multiple motives: • Creditor and tax evasion • Avoiding criminal records • Illegal immigration • Phishing, whaling • Funding espionage, terrorism
- 7. Financial Identity Theft • The most common variety, used to: • Steal money • Bank and investment account fraud • Obtain credit • Credit and debit card fraud • Loan fraud • Set up a means to launder money • International crimes • Consequences include: • Loss of savings / investments • Damaged credit • Tax Losses
- 8. Medical ID Theft • “How Medical IdentityTheft Can GiveYou a Decade of Headaches” (Bloomberg.com/tech- blog 11/8/12) • “…you have to go provider by provider, hospital by hospital, office by office and correct each record…. • “…while you’re… trying to clean up the records, the identity thief can continue to go around and get medical services in the victim’s name. Really there’s no way to effectively shut it down.” • Medical identity fraud is estimated to cost the healthcare industry almost $40 billion annually, driving up the cost of healthcare for everyone.
- 9. ID Theft Methods • Account Hijacking • The fastest growing form of identity theft; occurs when a criminal obtains your personal banking information and uses it to take over your bank accounts. • Dumpster Diving: searching through garbage for personal information • Retrieving personal data from IT equipment and storage media disposed of carelessly • Retrieving paper bank and credit card statements from home trash bins Camera
- 10. More ID Theft Methods • Hacking • Taking information from computers through viruses andTrojan horses • Infiltrating organizations that store and process large amounts of particularly valuable personal information • Shoulder Surfing • Eavesdropping or looking over someone’s shoulder to obtain personal information
- 11. Methods, continued • Phishing and Social Engineering • Impersonating a reputable institution to gain trust, and then asking for information. – Browsing social networking websites for personal details published by users, often using this information to appear more credible.
- 12. Methods, continued • Just Plain Stealing • Pickpocketing, housebreaking, or other theft: physically stealing bank or credit cards, identification cards, passports, etc. • Using public records about individual citizens, published in official registers – “Skimming” information from bank or credit cards – Exploiting insider access and abusing the rights of privileged IT users
- 13. Recent Examples close to home • Accounts Opened and Operated without Knowledge • Money Laundering • Accounts of Deceased Operated withoutVerification • BISP Calls • Callers Impersonating as Bank Call Centers Asking for Info • SIM Issuance on CNIC Copies • Stolen ATM and Credit Cards • Use of Stolen SIMs in illegal activities
- 14. Easy protections • Do not give out financial information (account numbers, credit card numbers or your CNIC number) unless you know the organization or person requesting this information. • Notify your bank or credit card company of any suspicious phone inquiries asking for account information.
- 15. What can you do? • Take proper steps to safeguard your personal information: • Carry as few credit cards as possible and periodically check to make sure you still have them all. Use an aluminum card case. • Guard your CNIC and Health insurance cards like money. • Try Not to carry around your CNIC and try not to write your CNIC number on anything. – Guard your banking and credit card PINs (Personal Identification Numbers) and passwords carefully. Don’t write them down. • Make your PINs and passwords hard for someone else to guess. • Never use your birth date or any digits from your CNIC number.
- 16. Computer Precautions • Install a firewall, anti-virus software, and anti-spam software on your computer and make sure these systems are updated often. • Be wary of pop-ups. Most are just legitimate ads, but always close them from theTask Manager. Clicking the X could install a virus on your computer. • Don’t open emails from people you don’t know.
- 17. 10 Golden Rules 1. There’s no guaranteed get-rich-quick schemes - sound to good to be true? 2. Never send money or give out your details when you do not know / trust the person or company you are giving them to. 3. Destroy personal information, shred documents, credit cards etc. 4. Log directly onto a website rather than clicking on the link provided. 5. Never reply to spam emails, even when you're trying to stop them.
- 18. 10 Golden Rules 6. Always remember: scammers are cunning and clever.They know how to manipulate you to produce the response they want. 7. Legitimate banks and companies will not ask for your details via email or phone. 8. Just because a company has a well designed website doesn't means it is legitimate. 9. Be suspicious. If you are unsure about anything, seek advice from family or Police. 10. Never get embarrassed by reporting a scam – If you spot a scam or have been scammed contact http://www.nr3c.gov.pk/
- 19. ThankYou! Feel free to ask any questions!
Editor's Notes
- #18: There are no guaranteed get rich schemes. These schemes are designed to pull people in and scam them out of a lot of money. You should always be suspicious of offers that say “you can win a load of money by clicking on the link or get rich quick by going to this website” If it sound too good to be true its will be. Never send money or give your details out to any one you haven’t met or do not know or trust. As seen before scammers will develop your trust with the use of online relationships and sob stories. The same also applies to companies; do not send money or give your details to companies you do not know or trust – Always carry out checks on companies such as addresses and contact information, even searching the address on things like google maps will give you an idea if they are genuine – Banks & legitimate businesses will never ask for you details and information over the phone or by email so do not hand it over. Destroy any documents, credit/debit cards and anything else with your personal details on. If criminals get hold of your personal information they can carry out criminal activities online with your money and information. Never be embarrassed to report a scam these scammers are very clever and devious so there is no shame in being deceived. However if you spot a scam or have been scammed yourself you can contact action fraud or alternatively if you know the suspect or their location contact the police immediately.
- #19: There are no guaranteed get rich schemes. These schemes are designed to pull people in and scam them out of a lot of money. You should always be suspicious of offers that say “you can win a load of money by clicking on the link or get rich quick by going to this website” If it sound too good to be true its will be. Never send money or give your details out to any one you haven’t met or do not know or trust. As seen before scammers will develop your trust with the use of online relationships and sob stories. The same also applies to companies; do not send money or give your details to companies you do not know or trust – Always carry out checks on companies such as addresses and contact information, even searching the address on things like google maps will give you an idea if they are genuine – Banks & legitimate businesses will never ask for you details and information over the phone or by email so do not hand it over. Destroy any documents, credit/debit cards and anything else with your personal details on. If criminals get hold of your personal information they can carry out criminal activities online with your money and information. Never be embarrassed to report a scam these scammers are very clever and devious so there is no shame in being deceived. However if you spot a scam or have been scammed yourself you can contact action fraud or alternatively if you know the suspect or their location contact the police immediately.
- #20: The audience will now ask questions in relation to Cyber Crime and the Presentation.