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Agenda . Our Identity Definition How Can Identity Theft Happen Misuse of Stolen Identities Warning Signs Preventing Identity Theft Tackling the Problem. Our Identity. Our identity is a valuable asset It’s a personal part of who we are Open bank accounts Obtain credit cards

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  • Our Identity
  • Definition
  • How Can Identity Theft Happen
  • Misuse of Stolen Identities
  • Warning Signs
  • Preventing Identity Theft
  • Tackling the Problem

Our Identity

  • Our identity is a valuable asset
  • It’s a personal part of who we are
  • Open bank accounts
  • Obtain credit cards
  • Apply for loans, mortgages
  • Purchase goods and services
  • Claim benefits


  • Identity Theft: An illegal act in which someone accesses and uses the identifying information of an actual person in some way that involves fraud or deception.
  • Identify Fraud: The use of a misappropriated identity in criminal activity, to obtain goods, services or benefits by deception for economic gain without the victim being aware.

How Can Identity Theft Happen?

  • Your HOME or VEHICLE is burgled and your personal information and documents may be taken.
  • Your personal information may be stolen and used or sold by employees of legitimate BUSINESS.
  • Information found in the TRASH BIN could provide a thief with an opportunity to steal your identity.
  • Many important documents are posted to you and can be stolen from your MAILBOX.

How Can Identity Theft Happen?

  • Criminals could request for a “change of address” and have your MAIL DIVERTED to another address.
  • Your WALLET contains personal information such as your licence, credit and ATM cards and other personal documents, that may be stolen.
  • You may be the victim of a scam and be conned into providing personal information over the telephone by an IMPERSONATOR (social engineering).

How Can Identity Theft Happen?

  • SHOULDER SURFING in public place.
  • Your personal computer could be the weakest link, as it is vulnerable to threats posed by HACKING, PHISHING and MALWARE.
  • Most surprisingly, you could have your identity stolen and used by someone you know and trust - FRIEND, RELATIVE or COLLEAGUE.

Misuse of Stolen Identities

  • Submit false application for credit cards and loans
  • Take over existing accounts
  • Open bank accounts to write bad cheques
  • Open landline or mobile phone account
  • File for bankruptcy
  • Submit false claims on insurance policies
  • Submit fraudulent tax returns to collect refunds
  • Submit claim for unemployment or social security benefits

Misuse of Stolen Identities

  • Terrorism financing
  • Money laundering
  • People smuggling (human trafficking)
  • Illegal immigration
  • Drug trade
  • Crimes
  • Abuse of government programmes

Misuse of Stolen Identities

  • Fastest growing crime
  • US in 2003
    • 10 million victims
    • US$1 billion loss by lenders
  • UK in 2003
    • Over 100,000 cases
    • £1.3 billion loss
  • Australia in 2002
    • A$1.1 billion loss

Warning Signs

  • You receive bills, invoices or receipts for goods which you have not ordered.
  • You receive letters or calls from debt collectors relating to debts that aren’t yours.
  • You receive bank statements for accounts in your name which you have not applied for or opened.
  • There are transactions on your account statements that you don’t recognize.

Warning Signs

  • Important identification documents are missing.
  • You stop receiving regular mails.
  • You did not receive any mail at all.
  • New accounts on your credit report.
  • Searches on your credit bureau report that don’t relate to any application made by you.

Preventing Identity Theft

  • Supply your personal information appropriately
  • Check financial information regularly
  • Ask for credit bureau report periodically
  • Maintain a record of important accounts
  • Destroy personal information before disposal
  • Use passwords for important accounts
  • Report loss or theft immediately
  • Secure your mail and personal information

Preventing Identity Theft

Computer & Internet

  • Use passwords for protection
  • Change passwords periodically
  • Use anti-virus software
  • Install personal firewall software for online access
  • Beware of unsolicited e-mails (phishing & malware)
  • Transact at secure websites; avoid spoof websites
  • Wipe before disposing hard drive
  • Be wary of using public computers

Tackling the Problem

  • Stringent verification process to detect fraudulent applications using stolen identities
  • Using scoring technology & neural networks
  • Robust procedure to prevent account takeover
  • Employee screening & training programme
  • One-time password and two-factor authentication for internet banking
  • Fraud Detection System
  • Customer education
  • Information sharing

Tackling the Problem

Victim Assistance Programme

  • Citi Identity Theft Solutions
  • Comprehensive service
  • Close unauthorized accounts
  • Credit bureau checks
  • Contact other creditors/banks
  • Police report
  • Monitor account
  • Update status until close
  • Reclaim identity

Tackling the Problem

  • ID card system
  • Criminal offence for identity theft and fraud
  • Police investigation
  • Sufficient deterrence to criminals
  • Access to public records

The End