1. Protect your Social Security
number (SSN), credit card and
debit card numbers, PINs
(personal identification numbers),
passwords and other personal
information. Never provide this
information in response to an
unsolicited phone call, fax, letter or e-
mail — no matter how friendly or
official the circumstances may appear.
In case your wallet gets lost or stolen,
only carry the identification, checks,
credit cards or debit cards you really
need. The rest, including your Social
Security card, are best kept in a safe
place. Also, be extra careful if you
have housemates or if you let workers
into your house because they
sometimes are in the best position to
find personal information and use it
without your knowledge.
Likewise, don’t pre-print your Social
Security number, phone number or
driver’s license number on your
checks. “It’s too easy for someone
who sees your check to copy this
personal information and even sell it
You know there is only one you. DNA
analysis can even prove it
scientifically. Even so, a crafty
criminal may be able to “clone” you
for purposes of committing fraud.
With sufficient information, a con
artist can become “you” and use your
identity to order new credit cards,
make counterfeit cards or checks, or
otherwise go on a spending spree in
your name. It’s called identity theft or
ID theft, and it’s a serious problem
we’ve written about frequently in
FDIC Consumer News. But we
believe identity theft is worth focusing
on again. Here’s why.
First, despite the efforts of law
enforcement, ID theft is becoming
more sophisticated and the number of
new victims is growing. In general,
consumers are protected against
liability for unauthorized accounts or
transactions under federal and state
law and by financial industry practices.
However, innocent victims of ID theft
INSIDE
Coming: Free credit reports
and access to credit scores
Page 5
Basics of FDIC deposit
insurance for businesses
Page 6
FDIC, other agencies add to
financial education programs
Back Page
Fall 2004
sometimes do suffer losses. And if the
crime is not detected early, people
may face months or years cleaning up
the damage to their reputation and
credit rating, and sometimes they lose
out on loans, jobs and other
opportunities in the meantime.
The evolution of ID theft includes
the spread of fraudulent “phishing”
e-mails. These are unsolicited e-mails
purportedly from a legitimate
source — perhaps your bank, utility
company, well-known merchants,
your Internet service provider or even
a trusted government agency such as
the FDIC — attempting to trick you
into divulging personal information.
Another reason we are featuring
ID theft again is that a new federal
law — the Fair and Accurate Credit
Transactions Act (FACTA) — is about
to give you some powerful new tools
to help fight this crime.
So, here is our latest “to do” list you
can follow to minimize your chances
of becoming a victim of ID theft.
ID Theft: Strategies and Help for Fighting Back
Your personal and financial information can be as good as cash to a fraud artist. Here is
our latest “to do” list for keeping your identity to yourself.
continued on next page
HAWAIIHAWAIINUMBER
DOE BETTY JEAN
25997 WAVY LANE .
HONOLULU, HI 96813
DOB 10/24/1980 EXP 07/04/2008
HT WT HAIR EYES SEX CTY
5' 5" 135 BRO BRO F 0
ISSUE DATE CLASS RESTR ENDORSE
07/04/2003 02
100-00-1000
DRIVER’S
LICENSE
Betty J. Doe
Louisiana
Louisiana
PERSONAL DRIVER’S LICENSE
DOE MARY JANE
433 MODEL STREET.
BATON ROUGE, LA 70810
LICENSE NO.
555-55-5555
CLASS
NONE
HEIGHT DOB
5-3 01-29-
1967
SEX EXPI
RES
F 01-29-2
007
Mary J. Doe AUDIT NO.
4999
Illinois
Illinois
PERSONAL DRIVER’S LICENSE
DOE SARAH
223 ELGIN DR
SPRINGFIELD, IL 62707
CUSTOMER NO.
555-55-5555
CLASS
01
DONOR
Y
HEIGHT DOB
5-5
01-29-1967
SEX EXPIRES
F
01-31-2007
RESTRICTIONS ISSUED
NONE
Sarah Doe
Virginia
irginiaDRIVER’S LICENSE
DOE JANE ELAINE
5109 LUXEMBURG DR.
MONTCLAIR, VA 22026
PRINCE WILLIAM COUNTY
CUSTOMER NO.555-55-5555CLASSNONE
ENDORSEMENTS
NTS
NONE
HEIGHT
DOB
55-5
01-29-1967
SEX
EXPIRES
F
01-29-2007
ISSUED
RESTRICTIONS IS
REN
0
01-11-1956COURT CODE
number (SSN), credit card and
debit card numbers, PINs
(personal identification numbers),
passwords and other personal
information. Never provide this
information in response to an
unsolicited phone call, fax, letter or e-
mail — no matter how friendly or
official the circumstances may appear.
In case your wallet gets lost or stolen,
only carry the identification, checks,
credit cards or debit cards you really
need. The rest, including your Social
Security card, are best kept in a safe
place. Also, be extra careful if you
have housemates or if you let workers
into your house because they
sometimes are in the best position to
find personal information and use it
without your knowledge.
Likewise, don’t pre-print your Social
Security number, phone number or
driver’s license number on your
checks. “It’s too easy for someone
who sees your check to copy this
personal information and even sell it
You know there is only one you. DNA
analysis can even prove it
scientifically. Even so, a crafty
criminal may be able to “clone” you
for purposes of committing fraud.
With sufficient information, a con
artist can become “you” and use your
identity to order new credit cards,
make counterfeit cards or checks, or
otherwise go on a spending spree in
your name. It’s called identity theft or
ID theft, and it’s a serious problem
we’ve written about frequently in
FDIC Consumer News. But we
believe identity theft is worth focusing
on again. Here’s why.
First, despite the efforts of law
enforcement, ID theft is becoming
more sophisticated and the number of
new victims is growing. In general,
consumers are protected against
liability for unauthorized accounts or
transactions under federal and state
law and by financial industry practices.
However, innocent victims of ID theft
INSIDE
Coming: Free credit reports
and access to credit scores
Page 5
Basics of FDIC deposit
insurance for businesses
Page 6
FDIC, other agencies add to
financial education programs
Back Page
Fall 2004
sometimes do suffer losses. And if the
crime is not detected early, people
may face months or years cleaning up
the damage to their reputation and
credit rating, and sometimes they lose
out on loans, jobs and other
opportunities in the meantime.
The evolution of ID theft includes
the spread of fraudulent “phishing”
e-mails. These are unsolicited e-mails
purportedly from a legitimate
source — perhaps your bank, utility
company, well-known merchants,
your Internet service provider or even
a trusted government agency such as
the FDIC — attempting to trick you
into divulging personal information.
Another reason we are featuring
ID theft again is that a new federal
law — the Fair and Accurate Credit
Transactions Act (FACTA) — is about
to give you some powerful new tools
to help fight this crime.
So, here is our latest “to do” list you
can follow to minimize your chances
of becoming a victim of ID theft.
ID Theft: Strategies and Help for Fighting Back
Your personal and financial information can be as good as cash to a fraud artist. Here is
our latest “to do” list for keeping your identity to yourself.
continued on next page
HAWAIIHAWAIINUMBER
DOE BETTY JEAN
25997 WAVY LANE .
HONOLULU, HI 96813
DOB 10/24/1980 EXP 07/04/2008
HT WT HAIR EYES SEX CTY
5' 5" 135 BRO BRO F 0
ISSUE DATE CLASS RESTR ENDORSE
07/04/2003 02
100-00-1000
DRIVER’S
LICENSE
Betty J. Doe
Louisiana
Louisiana
PERSONAL DRIVER’S LICENSE
DOE MARY JANE
433 MODEL STREET.
BATON ROUGE, LA 70810
LICENSE NO.
555-55-5555
CLASS
NONE
HEIGHT DOB
5-3 01-29-
1967
SEX EXPI
RES
F 01-29-2
007
Mary J. Doe AUDIT NO.
4999
Illinois
Illinois
PERSONAL DRIVER’S LICENSE
DOE SARAH
223 ELGIN DR
SPRINGFIELD, IL 62707
CUSTOMER NO.
555-55-5555
CLASS
01
DONOR
Y
HEIGHT DOB
5-5
01-29-1967
SEX EXPIRES
F
01-31-2007
RESTRICTIONS ISSUED
NONE
Sarah Doe
Virginia
irginiaDRIVER’S LICENSE
DOE JANE ELAINE
5109 LUXEMBURG DR.
MONTCLAIR, VA 22026
PRINCE WILLIAM COUNTY
CUSTOMER NO.555-55-5555CLASSNONE
ENDORSEMENTS
NTS
NONE
HEIGHT
DOB
55-5
01-29-1967
SEX
EXPIRES
F
01-29-2007
ISSUED
RESTRICTIONS IS
REN
0
01-11-1956COURT CODE
2 FDIC Consumer News
3. Keep your financial trash
“clean.” Thieves known as
“dumpster divers” pick through
garbage looking for pieces of paper
containing Social Security numbers,
bank account information and other
details they can use to commit fraud.
Examples of valuable trash include
insurance information containing
your SSN, blank checks mailed by
financial institutions with offers to
“write yourself a loan,” canceled
checks and bank statements.
Your best protection against dumpster
divers? Before tossing out these
items, destroy them, preferably using
a “crosscut” shredder that turns paper
into confetti that cannot be easily
reconstructed. Also remember our
suggestions for limiting the use of
your Social Security number, which
would lessen the likelihood it will be
found in your personal papers at
home.
4. Keep a close watch on your
bank account statements and
credit card bills. Monitor these
statements each month and contact
your financial institution immediately
if there’s a discrepancy in your
records or if you notice something
suspicious, such as a missing payment
or an unauthorized withdrawal.
While federal and state laws may
limit your losses if you’re a victim of
fraud or theft, your protections may
be stronger if you report the problem
quickly and in writing. You also avoid
the hassle and inconvenience of
straightening things out.
Contact your institution if a bank
statement or credit card bill doesn’t
arrive on time. This mail, if missing,
could be a sign someone has stolen
your mail and/or account information
and perhaps has changed your
mailing address to run up big bills in
your name from another location.
5. Avoid ID theft on the Internet .
“Hackers” and scam artists are
finding ways to steal private
Fall 2004
Protecting Against Identity Theft
promptly remove mail that’s been
delivered or move the mailbox to a
safer place. And when ordering new
checks, “ask about getting the boxes
delivered to your bank branch instead
of having them mailed to your home
and running the risk of finding them
out on your front stoop,” said
Weatherby.
For outgoing mail containing a check or
personal information: Deposit it in a
U.S. Postal Service blue collection
box, hand it to a mail carrier or take
it to the post office instead of leaving
it in your doorway or home mailbox.
“A mailbox that holds your outgoing
bills is a prime target for thieves who
cruise neighborhoods looking for
account information,” said Jeff
Kopchik, an FDIC Senior Policy
Analyst. “Even worse is putting up
the flag on a mailbox to indicate there
is outgoing mail sitting there, because
that’s also an invitation for a thief.”
to an ID thief,” said Kathryn
Weatherby, an Examination Specialist
for the FDIC. Remember that you
have the right to refuse requests for
your SSN from merchants and service
providers — they have other ways to
identify you. And if your state puts
Social Security numbers on driver’s
licenses, find out if you can use
another number.
2. Protect your incoming and
outgoing mail. Chances are that
your mail carrier will deliver a credit
card or bank statement, an envelope
containing a check, or other items
that can be very valuable to a thief.
Or perhaps you’ll put in the mail a
check or papers containing account
numbers or other personal financial
information.
For incoming mail: Try to use a locked
mailbox or other secure location, such
as a P.O. box. If your mailbox isn’t
locked or in a secure location, try to
Watch Your Backside...On Your Credit Card
You’re about to use your credit card to purchase something over the
Internet or the telephone and you’re asked to provide the three or four
numbers printed on the back of the card. Is it a valid question and is it
safe to respond? It depends on who’s asking. A merchant has a legitimate
purpose for obtaining those numbers, but an ID thief can use them to
commit fraud.
The numbers on the back of your credit card, often printed on the strip
provided for your signature, are part of a new security code. The
purpose is to verify that the person making a purchase online or over the
phone — when the merchant cannot see the card — actually has the
card in hand and is not someone else who simply knows the card
number and expiration date.
“Unless a criminal already has your card or has previously copied these
numbers from your card, there is no way to know the printed security
code on the back,” said Janet Kincaid, FDIC Senior Consumer Affairs
Officer. “That is why it is especially important to safeguard the
information.”
Her suggestions: Try to be sure you are dealing with a legitimate Web
site when providing credit card information online. Also, look for a logo
of a padlock or other indication that card numbers are protected during
Internet transmissions. In addition, only provide your credit card
information when you originate a transaction, not in response to an
unsolicited call or e-mail, which may be fraudulent. For more
information about using and protecting the security code on your credit
card, contact your card issuer.
3. Keep your financial trash
“clean.” Thieves known as
“dumpster divers” pick through
garbage looking for pieces of paper
containing Social Security numbers,
bank account information and other
details they can use to commit fraud.
Examples of valuable trash include
insurance information containing
your SSN, blank checks mailed by
financial institutions with offers to
“write yourself a loan,” canceled
checks and bank statements.
Your best protection against dumpster
divers? Before tossing out these
items, destroy them, preferably using
a “crosscut” shredder that turns paper
into confetti that cannot be easily
reconstructed. Also remember our
suggestions for limiting the use of
your Social Security number, which
would lessen the likelihood it will be
found in your personal papers at
home.
4. Keep a close watch on your
bank account statements and
credit card bills. Monitor these
statements each month and contact
your financial institution immediately
if there’s a discrepancy in your
records or if you notice something
suspicious, such as a missing payment
or an unauthorized withdrawal.
While federal and state laws may
limit your losses if you’re a victim of
fraud or theft, your protections may
be stronger if you report the problem
quickly and in writing. You also avoid
the hassle and inconvenience of
straightening things out.
Contact your institution if a bank
statement or credit card bill doesn’t
arrive on time. This mail, if missing,
could be a sign someone has stolen
your mail and/or account information
and perhaps has changed your
mailing address to run up big bills in
your name from another location.
5. Avoid ID theft on the Internet .
“Hackers” and scam artists are
finding ways to steal private
Fall 2004
Protecting Against Identity Theft
promptly remove mail that’s been
delivered or move the mailbox to a
safer place. And when ordering new
checks, “ask about getting the boxes
delivered to your bank branch instead
of having them mailed to your home
and running the risk of finding them
out on your front stoop,” said
Weatherby.
For outgoing mail containing a check or
personal information: Deposit it in a
U.S. Postal Service blue collection
box, hand it to a mail carrier or take
it to the post office instead of leaving
it in your doorway or home mailbox.
“A mailbox that holds your outgoing
bills is a prime target for thieves who
cruise neighborhoods looking for
account information,” said Jeff
Kopchik, an FDIC Senior Policy
Analyst. “Even worse is putting up
the flag on a mailbox to indicate there
is outgoing mail sitting there, because
that’s also an invitation for a thief.”
to an ID thief,” said Kathryn
Weatherby, an Examination Specialist
for the FDIC. Remember that you
have the right to refuse requests for
your SSN from merchants and service
providers — they have other ways to
identify you. And if your state puts
Social Security numbers on driver’s
licenses, find out if you can use
another number.
2. Protect your incoming and
outgoing mail. Chances are that
your mail carrier will deliver a credit
card or bank statement, an envelope
containing a check, or other items
that can be very valuable to a thief.
Or perhaps you’ll put in the mail a
check or papers containing account
numbers or other personal financial
information.
For incoming mail: Try to use a locked
mailbox or other secure location, such
as a P.O. box. If your mailbox isn’t
locked or in a secure location, try to
Watch Your Backside...On Your Credit Card
You’re about to use your credit card to purchase something over the
Internet or the telephone and you’re asked to provide the three or four
numbers printed on the back of the card. Is it a valid question and is it
safe to respond? It depends on who’s asking. A merchant has a legitimate
purpose for obtaining those numbers, but an ID thief can use them to
commit fraud.
The numbers on the back of your credit card, often printed on the strip
provided for your signature, are part of a new security code. The
purpose is to verify that the person making a purchase online or over the
phone — when the merchant cannot see the card — actually has the
card in hand and is not someone else who simply knows the card
number and expiration date.
“Unless a criminal already has your card or has previously copied these
numbers from your card, there is no way to know the printed security
code on the back,” said Janet Kincaid, FDIC Senior Consumer Affairs
Officer. “That is why it is especially important to safeguard the
information.”
Her suggestions: Try to be sure you are dealing with a legitimate Web
site when providing credit card information online. Also, look for a logo
of a padlock or other indication that card numbers are protected during
Internet transmissions. In addition, only provide your credit card
information when you originate a transaction, not in response to an
unsolicited call or e-mail, which may be fraudulent. For more
information about using and protecting the security code on your credit
card, contact your card issuer.