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Topics

Additional Course Information

ID Theft

Identity Theft is a crime in which an imposter obtains key pieces of personal identifying information such as Social Security numbers and driver's license numbers and uses them for their own personal gain.  This is called ID Theft.  It can start with lost or stolen wallets, pilfered mail, a data breach, computer virus, phishing, a scam, or paper documents thrown out by you or a business (dumpster diving).  This crime varies widely, and can include check fraud, credit card fraud, financial identity theft, criminal identity theft, governmental identity theft, and identity fraud.

ID theft is running rampant and it’s so easy to do because we don’t protect ourselves. Anytime you have to give up personal information you may be a victim of Identity Theft. There are thousands of cases every year of people who have had their identities stolen. There are ways you can protect yourself from ID Theft and we will get into them in this article.

The theft happens when you provide information to someone and they misuse that information for their own gain. In the first paragraph we mentioned some of the ways this can happen. With enough information a crook can open a bank account, use your credit card, get a new card in your name, establish a criminal record, and even get a drivers license.

Let’s talk about some of the ways ID Theft occurs:

• Lost or stolen wallet – This simply means you didn’t protect your valuables well enough to keep them from being lost or stolen. Pick pockets love large crowds because it makes the picking better for them. Always protect your valuables
• Dumpster diving – People will look through your trash looking for personal information like account numbers and even Social Security numbers on paperwork. Don’t ever throw something away that has that kind of information on it. Invest in a shredder and chop those documents up before putting them in the trash
• Inside sources – There have been store personnel who will copy or use your information after you use it in a store. HR and Personnel departments are a great source for your personal information. Even your military sick bay or doctor’s office can be used illegally. People stealing your mail can get information on you. As in the case of someone stealing your new blank checks from the mail box before you get to them. Report it to your local postal inspector
• ATM machines - There is a way you can lose your personal information when going to an ATM especially if you toss the receipt down after you draw your money. The receipt has your account number on it. There have even been cases of people putting false scanners on ATM machines so as it reads your card they can copy the information. The ATM works fine, but they can see your scanned information
• Credit Cards – Credit and debit cards are big targets. False scanning is used and even someone watching you put your PIN number in a machine when using a debit card. Credit card receipts are good for information. A common trick here is to get a copy of the carbon paper used to transfer the information from one piece of paper to the other then you sign the receipt
• Internet – You will get a request from someone asking for you to verify your personal information for them. Legitimate business will never do this. When using your credit card on a website make sure it is a secure site. You can tell by looking for a lock in the lower right corner of the site. If the lock is closed then it is a secure site. If it is open or missing don’t use the site for the transaction
• Phone calls – You will get the same kind of requests over the phone that you will get over the internet. Legitimate business will never ask for that kind of information over the phone. They will send you a letter or form to fill out to gather the information they need.

There are ways you can protect yourself. Get a copy of your credit report from one of the three credit bureaus every year. They are Experian at www.experian.com, TransUnion at www.tuc.com, and Equifax at www.equifax.com. It gives you an opportunity to check your record to see if there is anything there that doesn’t belong so you can protest it. Always minimize what you carry. They used to tell us to carry our Social Security cards on our person. Don’t ever carry anything with your Social Security number on it. If it appears that someone is using your SSN get in touch with the Social Security Administration. Destroy old personal sources of information and secure your personal information at home.

If someone has stolen your identity, the Federal Trade Commission recommends that you take three actions immediately.

• First, contact the fraud departments of each of the three major credit bureaus. Tell them to flag your file with a fraud alert including a statement that creditors should get your permission before opening any new accounts in your name.
• Second, contact the creditors for any accounts that have been tampered with or opened fraudulently. Ask to speak with someone in the security or fraud department, and follow up in writing. Following up with a letter is one of the procedures spelled out in the Fair Credit Billing Act for resolving errors on credit billing statements, including charges that you have not made.
• Third, file a report with your local police in the community where the identity theft took place. Keep a copy in case your creditors need proof of the crime.

Although identity thieves can wreak havoc on your personal finances, there are a lot of things you can do to take control of the situation. We’ve talked about how to handle some of the most common forms of identity theft in this topic. Take very good care of your personal information so it isn’t stolen.

Assistance

Counseling

• Army - E-mail
  
  Anthony Powell – Ft. Bliss, TX
  Wk Ph:  915-568-4453,
  DSN:  978-4453
  Email:  anthony.powell1@us.army.mil

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• Navy - E-mail
  
  Mike Kempf – Pensacola, FL
  Wk Ph:  850-452-6817,
  DSN:  922-3228
  Email:  mikekempf@bellsouth.net

More information

• Important changes to credit reports for 2008
• Links to more information
• mysdcc.sdccd.edu

New Links 10-21-2008

• Boston.com
• The News Service
• mymoney.gov
• http://www.financialstability.gov/

Calculators

• Savings
• Monthly Cash Flow
• 401(k) Value
• Hidden Expense
• Life Insurance
• Loan Amortization
• Net Worth
• Retirement Planning
• Taxed and Non-Taxed Compounding

Glossary

• Common terms in financial planning

News

• HOME REFINANCE AND MODIFICATION OPTIONS

General Information

• SDCC has articulated the Navy PFM course for one college credit. Navy personnel who have graduated from the Navy PFM course qualify. Typically, it can be difficult to apply one credit and meet the requirements of a three credit semester long course at most colleges and universities. With that in mind, we have taken the initiative of developing a two credit online course that will be available upon completion of the Navy PFM course. Sailors who have completed the requirements of both the Navy PFM course and the online PFM course will be given credit for completing the three credit Consumer Studies 110 course offered by San Diego City College and Mesa College and transferable to any Servicemembers Opportunity College (SOC).

• For additional information or to see if you qualify contact a PFM counselor.