On Take it to the Bank,
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you'll find ways
to get out of debt.
00:00:02.73\00:00:06.27
Solve your credit card problems.
00:00:09.80\00:00:12.34
How to make and
stick with the budget?
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Simple ways to save.
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Buying or selling a home
and many more financial matters
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on Take it to the Bank.
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Hi, my name is Cordell Thomas,
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and welcome to
Take it to the Bank.
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Today we are gonna
talk about something
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that I think is
of vital importance
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to each one us.
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We talked about information
that's out there about you,
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consumer
information, your privacy,
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and I think what we need to do
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now is talk about
ID theft and fraud
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which is a real
part of our existence.
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We work so hard to...
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Hopefully we work so
hard to develop our budgets,
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we work so hard to develop
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an understanding of what money
we can put away into savings,
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and what we can
do with our budgets,
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and what we can do
with our investments.
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But there is an
element out there
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that would like to get
in between us and our funds
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and they're using
many different methods
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that are available to them.
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We live in a technological age
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where at the moment
you hit a submit key,
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that information
is gone in minutes.
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We live in an age
where information you place
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out there on the
internet, once you release it,
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you can never get it back.
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And we need to understand
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that there is an
important element
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for each one of us to understand
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when it comes to our
personal information.
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Think about it.
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Close to 40
percent of individuals
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that are out there
right now have no clue
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that their
identity has been stolen
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for three months.
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It takes up to 40
percent of those individuals
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three months to know
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that their
identity has been stolen.
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Guess what
happens in three months?
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A lot of things can happen
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in reference to inappropriate
charges on your credit.
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A lot of other things that can,
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they can happen
from that standpoint
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and your information has
already probably been sold
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on a global
basis to these markets
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that are looking for
that type of information.
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It is a real part.
Here is another statistic.
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Close to 20
percent of individuals
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don't know for up to four years
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that their
identity has been stolen.
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Four years, and
that is a stark reality
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because, you know,
if it's been four years,
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you know, how much
damage has been done?
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It's essential that
we get into the habit,
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on an ongoing
basis, on a regular basis
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to take a look at
our credit report.
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You have to be
in touch with that
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because you shouldn't
be one of those individuals
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that doesn't know for
an extended amount of time.
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Okay, I have a
short story for you,
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and I must share this with you
because it impacted my family
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and in-law had the
same issue happened to her,
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ID theft, and what happened?
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She was fortunate,
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these thieves
actually had a scammer.
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I think, they had a skimmer
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that was out there
with her at the actual bank.
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When she went to a bank
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to find out about getting a loan
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for an additional
property she wanted to purchase.
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It was interesting
because we don't know
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exactly what happened,
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but her credit card information
or her social security number
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or whatever that
information was out there.
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There were some warning signs
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because that individual
who stole her identity
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tried calling her mother-in-law
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to find out some
details about her life
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such as mother's maiden name,
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and such as where
she actually lived,
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and the number of the house,
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and a couple of
other bits of information
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that could have
secured their ability
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to completely
steal her information.
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But something came up
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because one of
the credit agencies
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that or applied
to saw a warning sign
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because the
address that they used
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on the actual application
was an uninhabited building
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in the downtown
location where they lived.
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So that popped up a warning sign
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and the actually contacted her
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and said, "Hey,
you don't live here
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but somebody's applied
for credit in your name
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and that was a beginning
of the potential nightmare.
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She didn't know
exactly what to do
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as many of us don't
because we don't think
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it's going to
happen to any one of us.
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And she called me up and said
"Hey, Cordell, what do I do?"
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What are the things
that I should take care of
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in reference to
protecting myself."
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And there is three things
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you should remember
to do if in fact you find
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that your identity
has been compromised.
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Number one, contact
the police department.
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Call them immediately.
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They have a department open 24/7
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that will handle your
specific fraud complaint
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and file a
report on your behalf.
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And you'll find
that's going to be
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important support mechanism,
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and the report
will be very helpful
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when you
approach your creditors,
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and as well
approach the credit bureaus
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which leads to the
second thing you should do.
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Number two,
contact the credit bureaus,
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they have each one of the three
have a 800 number for frauds,
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specifically for fraud,
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and I believe that those numbers
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are now 24/7 numbers.
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So you don't
have to wait overnight
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or you don't have
to wait over a weekend.
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You can pick up and call them
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and let them
know that you believe
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that your identity
has been compromised,
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and they can pretty much
put a freeze on your account,
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and they'll ask for another
lot of information about you
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so that they can
actually distinguish
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who you are and
filter out anyone
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that may be calling in
about credit on your name.
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The third thing and
the most important thing
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you should also do is
contact your creditors.
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The interesting
thing is what transpired
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after these things occurred
and she got these phone calls,
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there is all of a
sudden all around the city
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that she lived
applications started popping up.
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Back at this department store,
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at this organization,
at many different places,
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and it was interesting
as I sat at the dining table
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with her one time,
a creditor called her
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and said, "Hey, did
you open this account
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over this location?"
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"No I didn't."
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And they
verified and went through
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all of her security information
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and they were
able to shut that down.
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In her situation
she was very lucky
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because the day they
were trying to do something,
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that credit card
company was able to look
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at some features
that are warning signs
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for this person to try to apply
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for credit in
this person's name.
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Many different things can occur.
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The fact is you need to be aware
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of what's going on with
your specific information.
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You need to protect information
that's out there about yourself
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and you need to do as
much as you possibly can
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to protect yourself from
having your identity stolen.
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Key.
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Now as we
continue this conversation,
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I want to give you a
few statistics as a result
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of what happens with ID theft.
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For example, victims,
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those who are victims spend
between 3000 and 5000 hours
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repairing the damage
that's already been done.
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32 percent of these
respondents in the survey said
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it took between
four and six months
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to deal with their case
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and another 23 percent
reported dealing with their case
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from seven months to a year.
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There is monitory
cost for identity theft.
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Up to $15, 000 per business,
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victims lose an average
of between $1,300 to $14,000
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worth of wages
fighting these specific cases,
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and victims spend an
average of $1,300 plus
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and expenses
related to their case.
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There are practical
and emotinous damage done
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with identity theft.
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47 percent of people said
that they couldn't get credit
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or had trouble
getting credit or a loan
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as a result of identity theft.
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19 percent of victims
have higher credit rates
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and 16 percent have
higher insurance rates
00:08:03.08\00:08:05.45
based on identity theft.
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70 percent of victims
have trouble getting rid of
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or never get rid of negative
information on their records.
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Another 45 percent of victims
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feels the sense of
denial and disbelief.
00:08:17.86\00:08:21.13
85 percent of
individuals find anger and rage
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because of these things
00:08:24.67\00:08:26.00
that are going
on in their lives,
00:08:26.03\00:08:27.40
their personal lives
from somebody outside
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that really doesn't
even know who they are.
00:08:29.47\00:08:31.37
And then of course, 60 percent
of individuals responded saying
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that I feel
unprotected by the authorities.
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Uses of victim information
is quite interesting.
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More than a third
of the victims reported
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that their identity thieves
committed check account fraud.
00:08:45.65\00:08:50.03
66 percent of victims,
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their personal information
was used to open new credit
00:08:52.46\00:08:57.97
in their name.
00:08:58.00\00:08:59.77
28 percent of victims,
their personal information
00:08:59.80\00:09:03.14
was used in the
purchase of cell phones.
00:09:03.17\00:09:05.91
And if you talk to police,
00:09:05.94\00:09:07.28
you know where
these cell phones go.
00:09:07.31\00:09:08.64
These stolen cell
phones show up in places
00:09:08.68\00:09:10.21
that they are not supposed
to or inappropriate areas.
00:09:10.25\00:09:13.18
And then of course
12 percent of victims
00:09:13.21\00:09:14.78
end up of having warrants,
00:09:14.82\00:09:16.15
warrants issued in their
name for financial crimes
00:09:16.18\00:09:19.82
committed by the identity thief.
00:09:19.85\00:09:25.63
This next statistic
is quite interesting
00:09:25.66\00:09:28.13
because it has to do
with impostor characteristics
00:09:28.16\00:09:30.83
in relationship to the victim.
00:09:30.87\00:09:32.43
Check this out,
00:09:32.47\00:09:33.80
43 percent of victims believe
that they know the person
00:09:33.84\00:09:38.34
who stole their identity.
00:09:38.37\00:09:41.14
Up to 25 percent of
victims believe the impostor
00:09:41.18\00:09:43.55
is someone who is in a business
00:09:43.58\00:09:46.15
that holds their personal
identifying information.
00:09:46.18\00:09:48.78
Consider that.
00:09:48.82\00:09:50.15
We've heard of many
of these organizations
00:09:50.19\00:09:53.05
from credit organizations
to health organizations
00:09:53.09\00:09:57.26
to many different organizations
that have had their data bases
00:09:57.29\00:10:01.40
hacked into and stolen.
00:10:01.43\00:10:03.26
Before you know it,
00:10:03.30\00:10:04.63
that information is
all over globe with people
00:10:04.67\00:10:06.90
picking and choosing the
personal information on you
00:10:06.94\00:10:09.80
and using it to
create a whole new identity.
00:10:09.84\00:10:14.48
16 percent of
identity theft victims
00:10:14.51\00:10:16.28
are also victims
of domestic harassment
00:10:16.31\00:10:18.38
and abuse by the
same perpetrator.
00:10:18.41\00:10:22.95
Responsiveness of victims.
00:10:22.98\00:10:25.32
Police department seemed
to be getting more responsive.
00:10:25.35\00:10:27.52
What was interesting
with the case with my in-law
00:10:27.56\00:10:30.23
that she was able to
call the police department
00:10:30.26\00:10:33.40
at around 11:30 at night,
00:10:33.43\00:10:35.63
and was able to get
a fraud investigator,
00:10:35.66\00:10:38.27
and within hours they
actually came to her front door,
00:10:38.30\00:10:41.50
and were able to
say we can take a report
00:10:41.54\00:10:43.74
but because you don't
yet have the information
00:10:43.77\00:10:46.47
from your creditors
we would advice you wait,
00:10:46.51\00:10:49.58
and then come in
with that information,
00:10:49.61\00:10:51.05
so we can complete
the report on your behalf.
00:10:51.08\00:10:54.92
20 percent of victims
will have their misinformation
00:10:54.95\00:10:57.89
and errors removed
from their credit report
00:10:57.92\00:10:59.99
so it takes
vigilance from your perspective
00:11:00.02\00:11:03.69
to ensure that information
is taken care of and removed.
00:11:03.73\00:11:08.50
But the quicker you
find out about this,
00:11:08.53\00:11:10.97
the quicker you handle this,
00:11:11.00\00:11:12.57
the quicker you
are aware of this
00:11:12.60\00:11:14.44
is a better off
that you will be.
00:11:14.47\00:11:17.74
Now, I do want to bring in
00:11:17.77\00:11:20.14
Jessica Duong who
is our identity theft
00:11:20.18\00:11:22.38
and fraud expert, and I
have a question for her.
00:11:22.41\00:11:25.91
What should someone do
00:11:25.95\00:11:27.38
if they suspect that
their ID has been compromised?
00:11:27.42\00:11:30.89
Jessica, can you
give us an answer.
00:11:30.92\00:11:32.42
The first thing you should do
is to go to the police station,
00:11:35.86\00:11:39.53
and file a police report.
00:11:39.56\00:11:41.36
Next there are several
different websites out there
00:11:41.40\00:11:44.50
that I'll provide for you,
00:11:44.53\00:11:46.80
and you can put it
up for your viewers.
00:11:46.84\00:11:49.90
For example the
Federal Trade Commission
00:11:49.94\00:11:51.81
has lots of great resources,
00:11:51.84\00:11:55.01
they have different affidavits
that you can printout,
00:11:55.04\00:11:58.18
and fill out, and
report any discrepancies.
00:11:58.21\00:12:01.78
Also we work with a
company called Kroll,
00:12:01.82\00:12:04.85
they are experts,
they're licensed investigators,
00:12:04.89\00:12:08.12
they have
attorneys working with them,
00:12:08.16\00:12:10.09
and they are
throughout the world
00:12:10.13\00:12:13.09
basically researching,
00:12:13.13\00:12:15.60
and looking out
for their clients
00:12:15.63\00:12:17.83
to make sure that
if something happens
00:12:17.87\00:12:20.44
to your personal information,
00:12:20.47\00:12:22.10
they can restore
your information for you.
00:12:22.14\00:12:24.27
Thank you, Jessica.
00:12:26.54\00:12:27.88
We're gonna actually come
back to you in a few minutes,
00:12:27.91\00:12:29.64
we have another
question for you but excellent.
00:12:29.68\00:12:32.25
It's interesting what she
said because victims of ID theft
00:12:32.28\00:12:35.48
must act quickly to
minimize the damage.
00:12:35.52\00:12:38.82
As in my in-law,
00:12:38.85\00:12:40.59
she was able to
respond very quickly
00:12:40.62\00:12:42.49
because she had warning signs,
00:12:42.52\00:12:43.89
there are things
that are out there.
00:12:43.93\00:12:45.26
There're unexpected calls
coming from different locations
00:12:45.29\00:12:47.96
and doing different things.
00:12:48.00\00:12:49.56
People are
looking for information
00:12:49.60\00:12:51.20
to complete a
profile on who you are
00:12:51.23\00:12:54.60
so they can take that
profile and use it as their own.
00:12:54.64\00:12:58.11
So the three things that you do
00:12:58.14\00:12:59.81
as Jessica
indicated is number one,
00:12:59.84\00:13:02.34
you need to contact,
00:13:02.38\00:13:03.71
report it to the
major credit bureaus.
00:13:03.75\00:13:06.01
Contact the fraud department,
00:13:06.05\00:13:07.65
they're open 24/7 of
each of the credit bureaus,
00:13:07.68\00:13:10.85
and report that your
identity has been stolen.
00:13:10.89\00:13:14.29
Ask them specifically,
just remember fraud alert,
00:13:14.32\00:13:17.69
ask them to place a
fraud alert in your files.
00:13:17.73\00:13:22.00
There are three
agencies Transunion,
00:13:22.03\00:13:26.27
Experian and of course Equifax.
00:13:26.30\00:13:28.90
Second, file a police
report with the local police
00:13:28.94\00:13:32.81
or police where the
identity theft occurred.
00:13:32.84\00:13:37.41
Get a copy of a police report,
00:13:37.45\00:13:39.01
and retain it for your
records, credit card companies,
00:13:39.05\00:13:41.78
and financial
institutions may acquire you
00:13:41.82\00:13:44.45
to show a copy of this report
00:13:44.49\00:13:46.82
to verify that the
crime actually happened
00:13:46.86\00:13:49.49
so you need to go,
and talk to the police,
00:13:49.52\00:13:51.89
and you need to ask specifically
00:13:51.93\00:13:53.63
for the fraud department.
00:13:53.66\00:13:56.13
Then the third area,
00:13:56.16\00:13:57.83
and the most important
is to contact your creditor
00:13:57.87\00:14:00.74
for any accounts that
had been fraudulently access
00:14:00.77\00:14:03.07
or open contact,
00:14:03.10\00:14:04.51
the billing enquires
and securities department
00:14:04.54\00:14:06.71
for the appropriate creditors
or financial institution.
00:14:06.74\00:14:10.61
Close the
accounts, and use passwords
00:14:10.65\00:14:14.12
now new passwords,
00:14:14.15\00:14:16.05
not necessarily a
mother's maiden name
00:14:16.08\00:14:17.82
that's what everyone uses,
00:14:17.85\00:14:19.19
and that's probably
why they were calling
00:14:19.22\00:14:21.42
her mother in-law to find out
what is your mom's maiden name.
00:14:21.46\00:14:25.29
And they know the
typical questions to ask,
00:14:25.33\00:14:27.33
so change the passwords
00:14:27.36\00:14:29.03
to something a little bit
more difficult and challenging.
00:14:29.06\00:14:31.70
Hey, that can be
interesting to deal with
00:14:31.73\00:14:35.30
because I figure out passwords
that I can't even remember
00:14:35.34\00:14:38.47
so I do is I put
them in a safe place,
00:14:38.51\00:14:41.21
and I ensure that I can
have access to it when I needed.
00:14:41.24\00:14:46.92
Ask that the old accounts
be processed as account closed
00:14:46.95\00:14:50.75
at consumer's request.
00:14:50.79\00:14:53.86
Having a card lost
or stolen reference
00:14:53.89\00:14:55.86
because when this statement
is reported to credit bureaus,
00:14:55.89\00:14:59.19
it can be interpreted as
blaming you for the loss.
00:14:59.23\00:15:03.16
Carefully
monitor all of your mail,
00:15:03.20\00:15:05.13
your credit card bills,
00:15:05.17\00:15:06.50
and report
immediately to your company
00:15:06.53\00:15:09.10
or your creditor that you
see some new fraudulent activity
00:15:09.14\00:15:12.71
and maintain vigilance.
00:15:12.74\00:15:14.21
Remember, there is a Bible verse
00:15:14.24\00:15:16.04
that we talk
about in 2 Timothy 4:7,
00:15:16.08\00:15:19.41
and it says therefore I
have fought the good fight,
00:15:19.45\00:15:23.28
I have finished the
race, I have kept the faith
00:15:23.32\00:15:26.45
therefore there is in
store for me a reward.
00:15:26.49\00:15:28.79
I have finished the race.
This is a race of endurance.
00:15:28.82\00:15:33.16
I have mentioned before
that I have run marathon,
00:15:33.19\00:15:36.56
and it is an
interesting capacity
00:15:36.60\00:15:39.33
when you hit that wall.
00:15:39.37\00:15:40.77
It's interesting when
you deal with challenges
00:15:40.80\00:15:43.24
during the course of that
race, and throughout your life,
00:15:43.27\00:15:46.37
throughout your financial life,
00:15:46.41\00:15:47.91
you're going to deal
with many different obstacles
00:15:47.94\00:15:50.98
that you may seem
way out of control,
00:15:51.01\00:15:53.62
but, believe me
there are options,
00:15:53.65\00:15:57.49
there are things you can do,
00:15:57.52\00:15:58.85
there are things that you can...
00:15:58.89\00:16:00.56
Places you can access
and information you can get
00:16:00.59\00:16:03.32
that will help
alleviate some of the tensions.
00:16:03.36\00:16:06.29
And as long as you
know the top three things
00:16:06.33\00:16:08.16
you need to do in
identity theft situation,
00:16:08.20\00:16:10.63
then you know
exactly what to do.
00:16:10.67\00:16:13.47
So again what
are the three things?
00:16:13.50\00:16:15.90
Contact the police
department number one.
00:16:15.94\00:16:17.87
What's number two?
00:16:17.91\00:16:19.24
You want to go and report it
00:16:19.27\00:16:20.81
to the fraud department
at your credit bureaus.
00:16:20.84\00:16:24.51
And number three, what is that?
00:16:24.55\00:16:26.45
You need to report it
to all of your creditors.
00:16:26.48\00:16:29.38
In that case you're doing
as much as you possibly can
00:16:29.42\00:16:32.85
to minimize the
problem that's there.
00:16:32.89\00:16:35.56
Now there are some
other things you can do
00:16:35.59\00:16:37.06
but before we get
into that specific element,
00:16:37.09\00:16:40.70
I'm going to actually go
back and have a conversation
00:16:40.73\00:16:44.47
with Jessica
with the question is,
00:16:44.50\00:16:46.84
what additional
resources are available
00:16:46.87\00:16:49.87
to assist with fraud.
00:16:49.90\00:16:53.01
Jessica, can you
address that question?
00:16:53.04\00:16:54.84
The four
different types of policies
00:16:57.35\00:16:59.08
that insurance
companies have come up
00:16:59.11\00:17:00.92
with is
reimbursement, resolution,
00:17:00.95\00:17:06.45
monitoring and restoration.
00:17:06.49\00:17:09.49
What we recommend is
to have a combination
00:17:09.52\00:17:12.13
of a monitoring service,
00:17:12.16\00:17:14.00
and then a restoration service
when you become a victim,
00:17:14.03\00:17:17.23
experts can restore
your information for you.
00:17:17.27\00:17:20.54
Thank you, Jessica,
00:17:21.64\00:17:23.00
it's gratifying
to have the resources
00:17:23.04\00:17:26.07
of an expert like Jessica.
00:17:26.11\00:17:27.44
She's been very helpful.
00:17:27.48\00:17:28.81
In fact when the situation
happened with my in-law,
00:17:28.84\00:17:30.85
I gave my in-law the information
00:17:30.88\00:17:32.31
that I had in
the top of my head,
00:17:32.35\00:17:34.02
but it drove me to
begin to understand
00:17:34.05\00:17:37.09
how much this credit
card and identity theft
00:17:37.12\00:17:40.86
is really impacting us.
00:17:40.89\00:17:42.49
And I was able
to call up Jessica
00:17:42.52\00:17:44.49
and say that I have a problem.
00:17:44.53\00:17:47.43
I have a in-law that
has, had her identity stolen.
00:17:47.46\00:17:50.10
She jumped right on the issue
00:17:50.13\00:17:52.27
and gave me a
plethora of information,
00:17:52.30\00:17:55.27
a lot of information that
was quite beneficial for me
00:17:55.30\00:17:58.94
to also send to my in-law.
00:17:58.97\00:18:00.98
It's real, it happens.
00:18:01.01\00:18:03.55
Be vigilant, follow your credit,
00:18:03.58\00:18:06.01
follow all of your reports.
00:18:06.05\00:18:08.08
Get the free
copies of your reports.
00:18:08.12\00:18:10.15
Watch out for new accounts
being set up in your name.
00:18:10.19\00:18:14.26
It's really
difficult to turn things around
00:18:14.29\00:18:17.86
from that standpoint.
00:18:17.89\00:18:19.23
And then one of the other things
00:18:19.26\00:18:20.86
I would ask you
to be careful of is,
00:18:20.90\00:18:24.53
if you're not vigilant,
00:18:24.57\00:18:25.90
you might find warrants
for your arrest popping up,
00:18:25.93\00:18:28.60
because these
individuals are not nice
00:18:28.64\00:18:31.61
when they get
access to a new identity,
00:18:31.64\00:18:33.68
they use it for bad things.
00:18:33.71\00:18:35.74
It's imperative that
as you run this race,
00:18:35.78\00:18:39.75
you run it with diligence
00:18:39.78\00:18:41.68
and run it as smart
as you possibly can.
00:18:41.72\00:18:46.02
Now I'm going to talk to you
00:18:46.05\00:18:48.49
about something
that's important,
00:18:48.52\00:18:50.79
and it's actually a
learning curve for me
00:18:50.83\00:18:52.76
because as I learn
more about technology,
00:18:52.79\00:18:55.53
there is this new
area of identity theft
00:18:55.56\00:18:59.17
that is very
important to be aware of.
00:18:59.20\00:19:03.14
There is a difference between
00:19:03.17\00:19:06.34
the typical types
of identity theft,
00:19:06.37\00:19:08.68
and internet identity theft.
00:19:08.71\00:19:12.95
The one major difference
and one main difference
00:19:12.98\00:19:15.35
between
internet identity thefts,
00:19:15.38\00:19:18.49
and basic ID
theft in fraud is this.
00:19:18.52\00:19:23.73
With internet identity theft,
00:19:23.76\00:19:25.29
we don't have
to wait for a thief
00:19:25.33\00:19:27.56
to physically
steal our information,
00:19:27.60\00:19:30.00
instead we may be unwittingly
00:19:30.03\00:19:33.23
handing over the
information ourselves.
00:19:33.27\00:19:35.64
What do I mean by that?
00:19:35.67\00:19:37.01
In internet protocol,
our identity on the internet
00:19:37.04\00:19:40.38
is made up of several things.
00:19:40.41\00:19:42.18
It's made up of IP address
00:19:42.21\00:19:44.91
or an internet protocol address.
00:19:44.95\00:19:47.62
It's made up of
the physical address
00:19:47.65\00:19:49.72
that we live.
00:19:49.75\00:19:51.09
It's made up of usernames
and passwords and pin numbers,
00:19:51.12\00:19:55.32
personal identification numbers,
00:19:55.36\00:19:57.19
and social security numbers,
00:19:57.23\00:19:58.86
and birth dates,
and account numbers,
00:19:58.89\00:20:01.03
and mother's maiden
names, and etcetera.
00:20:01.06\00:20:04.60
Did you know that
all of that information
00:20:04.63\00:20:06.43
is out there about you?
00:20:06.47\00:20:10.27
However because
we use the internet
00:20:10.31\00:20:12.84
for all sorts of
financial transactions,
00:20:12.87\00:20:15.54
criminals are developing
sophisticated techniques
00:20:15.58\00:20:20.08
to steal our digital identities.
00:20:20.12\00:20:23.75
Internet ID theft statistics
00:20:23.79\00:20:26.15
show their aim is
to use our identities
00:20:26.19\00:20:29.06
to open credit card
accounts, bank loans, mortgages,
00:20:29.09\00:20:33.09
and in fact any transaction
that will make money.
00:20:33.13\00:20:38.07
Now there are three different
forms of how they trick us
00:20:38.10\00:20:42.40
into giving them information.
00:20:42.44\00:20:45.64
Information
about us can be stolen
00:20:45.67\00:20:47.51
by computer criminals
from the data bases of banks,
00:20:47.54\00:20:51.48
remember I talked
about other organizations
00:20:51.51\00:20:54.62
that have had
their data bases hacked.
00:20:54.65\00:20:57.29
Their prime target is
hacking into the information
00:20:57.32\00:21:01.66
that these major
organizations have about us
00:21:01.69\00:21:04.43
so they go after
banks, and retailers and ISPs,
00:21:04.46\00:21:09.33
internet service providers
00:21:09.36\00:21:11.27
as well as data clearing houses.
00:21:11.30\00:21:15.80
However there is an
easier way for the thief
00:21:15.84\00:21:18.97
that is to come and
steal the information from us
00:21:19.01\00:21:22.38
or trick us into
providing that information.
00:21:22.41\00:21:25.68
Three different ways
I'm gonna provide to you.
00:21:25.71\00:21:27.55
The first one is fishing,
00:21:27.58\00:21:30.52
not fishing going out
and throwing out a lure,
00:21:30.55\00:21:32.82
but it's pretty much
as same it's 'PHISHING'.
00:21:32.85\00:21:38.99
Just like fishing,
sometimes it's called spoofing.
00:21:39.03\00:21:42.73
It's like a lure
that's thrown out there
00:21:42.76\00:21:44.87
to catch you as a victim.
00:21:44.90\00:21:46.97
This lure often comes
in the form of spam email
00:21:47.00\00:21:50.81
of popup warnings that look like
00:21:50.84\00:21:53.48
legitimate
companies that we worked with,
00:21:53.51\00:21:55.98
and the purpose
of the phishing lure
00:21:56.01\00:21:58.45
is of such, the purpose is
to have you click on a link,
00:21:58.48\00:22:04.72
and to verify and
or to cancel a purchase
00:22:04.75\00:22:08.19
that you may
have unwittingly made.
00:22:08.22\00:22:10.59
You didn't make the purchase
but they act as if you did.
00:22:10.63\00:22:14.90
It might be a popup
link to get you to click on
00:22:14.93\00:22:18.10
an update of
personal information.
00:22:18.13\00:22:20.97
It may be a request
to validate your account
00:22:21.00\00:22:24.01
information to prevent
it from being cancelled.
00:22:24.04\00:22:27.14
They put it out there
as a sense of urgency,
00:22:27.18\00:22:29.44
and you feel wow,
if I don't do anything,
00:22:29.48\00:22:31.31
something's gonna happen,
00:22:31.35\00:22:32.68
and you click on
it and unwittingly
00:22:32.71\00:22:34.68
what happens is where the moment
00:22:34.72\00:22:36.79
we click on the link we
are directed to a website
00:22:36.82\00:22:40.19
that looks just like
our companies website.
00:22:40.22\00:22:42.66
I have actually
been phished before,
00:22:42.69\00:22:45.93
and went to a website
of a banking organization,
00:22:45.96\00:22:50.60
and it looked
just like the original,
00:22:50.63\00:22:52.73
but guess what?
00:22:52.77\00:22:54.14
I knew something was wrong
00:22:54.17\00:22:55.50
because they were
asking for information
00:22:55.54\00:22:56.87
that the bank's
website never really asks for.
00:22:56.91\00:22:59.54
They never send out
an email saying hey,
00:22:59.57\00:23:02.48
we need this
information from you.
00:23:02.51\00:23:05.11
And they are asking
this type of information
00:23:05.15\00:23:08.62
such as warning
signs, security number,
00:23:08.65\00:23:12.35
social security number,
00:23:12.39\00:23:13.89
credit card
number or a password.
00:23:13.92\00:23:16.22
When you see that
type of thing happening,
00:23:16.26\00:23:18.63
there is a problem.
00:23:18.66\00:23:20.00
Call your bank first,
00:23:20.03\00:23:21.86
and check with them
before doing anything
00:23:21.90\00:23:24.67
that might give out
personal information.
00:23:24.70\00:23:27.90
57 million people have
experienced phishing attacks,
00:23:27.94\00:23:32.17
1.78 million adults have
fallen victim to the same
00:23:32.21\00:23:35.71
and it's the cost
of phishing right now
00:23:35.74\00:23:38.08
has added up to
$1.2 billion plus.
00:23:38.11\00:23:42.58
Look, legitimate companies
00:23:42.62\00:23:44.69
will never ask for our personal
information in that manner.
00:23:44.72\00:23:48.89
Second, identity theft
statistics on pharming.
00:23:48.92\00:23:53.33
Okay, am I playing a
game here with words?
00:23:53.36\00:23:56.13
Not really. This
is actually out there.
00:23:56.16\00:23:57.97
Pharming, not
"farming" but "pharming"
00:23:58.00\00:24:04.87
if I spell it
wrong, please forgive me.
00:24:04.91\00:24:07.34
Identity theft through pharming
00:24:07.38\00:24:09.04
is great deal
different than just phishing.
00:24:09.08\00:24:11.58
What's the difference?
00:24:11.61\00:24:12.95
In pharming, a
cyber criminal cracks
00:24:12.98\00:24:15.05
the vulnerability
00:24:15.08\00:24:16.58
of an internet
service providers DNS server.
00:24:16.62\00:24:19.52
What am I saying?
00:24:19.55\00:24:20.89
They are cracking into
a company's information
00:24:20.92\00:24:24.09
and domain name,
00:24:24.13\00:24:25.46
and what they do
is once they crack
00:24:25.49\00:24:26.83
into the company's information,
00:24:26.86\00:24:28.60
they steal the
company's domain name.
00:24:28.63\00:24:32.57
And so, once they
have hacked into it,
00:24:32.60\00:24:34.24
they take the company's
name and make it their own.
00:24:34.27\00:24:39.21
So when you click on it,
00:24:39.24\00:24:40.61
anyone going to
that genuine site
00:24:40.64\00:24:43.11
of that organization
00:24:43.14\00:24:44.75
is redirected to an
identical bogus site.
00:24:44.78\00:24:48.72
That bogus site then
takes your information,
00:24:48.75\00:24:51.82
and pin number,
and account number
00:24:51.85\00:24:54.06
which the
"pharmers" immediately use
00:24:54.09\00:24:59.06
to go back to the
genuine site and make purchases.
00:24:59.09\00:25:03.93
Am I confusing you or what not,
but it's getting that technical
00:25:03.97\00:25:07.10
and having an understanding
00:25:07.14\00:25:09.20
of what's actually going
on out there is critical.
00:25:09.24\00:25:12.64
Pharming is a big,
big issue right now
00:25:12.67\00:25:16.71
where a lot of companies
are dealing with these issues,
00:25:16.75\00:25:21.35
where their domain
name is stolen from them,
00:25:21.38\00:25:24.89
and then their customers
that have worked with them
00:25:24.92\00:25:27.46
and been with them for long time
00:25:27.49\00:25:29.02
are forwarded to another site
00:25:29.06\00:25:31.39
which those people
take their information
00:25:31.43\00:25:34.63
and then use it to
go to the original site
00:25:34.66\00:25:37.57
to make purchases that they take
00:25:37.60\00:25:39.70
and uses their own.
00:25:39.73\00:25:41.60
Phishing, Pharming,
00:25:41.64\00:25:48.24
and then there is number three,
ID theft of spam and spyware.
00:25:48.28\00:25:55.08
This is very interesting.
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We can
inadvertently download spyware
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by just clicking on a popup
ad and viewing a spam email.
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For example,
spyware is technology
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that suspiciously
or gathers information
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such as personal IDs
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and passwords for bank accounts.
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It can do this by logging
all of our keyboard strokes.
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It can log all of
our keyboard strokes.
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What you type in to the keyboard
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or by using
things called trogons
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and other techniques to collect
information from your PC.
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This information is then
passed back to the perpetrator
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when we connect to the internet.
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So it
automatically goes back to them.
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Spam and spyware risks
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are things that you need to
be aware of that compromises
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your personal information
and creates problems for you
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if you are not
aware of what to look for.
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So in this area
of internet ID theft,
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I asked you to do
a couple of things.
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If you have a
computer and internet access,
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I ask that you
put up a firewall.
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Talk to an expert on that,
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someone that
knows about computers
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and they'll
explain that for you.
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Secondarily, get
virus protection.
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These viruses that come
in on timely basis are things
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that can hurt you, they
can cause a lot of damage,
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they can cause a lot of pain
when you find all of a sudden
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that something has
happened in your credit file.
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Secondarily,
what I asked you to do
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is maintain vigilance
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when coming to
your credit information.
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Ask for that free copy of
your file on a yearly basis.
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Maintain interaction
with your credit companies
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and make sure you stay in touch
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so that if and when
something like this can happen,
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you too can be a
very educated consumer
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when you begin the process
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of taking it to
the bank and saving.
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God bless.
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