identity theft protection company keepmy id.org

ID THEFT PREVENTION AND ID THEFT INSURANCE

PAT CROWKEEPMYID.ORGpat@keepmyID.org

www.keepmyID.org1-800-664-5936

IDENTITY THEFT AND INSURANCE

• (1) THE PROBLEM:

WHY IS THIS A CONCERN?

• (2) HOW DOES IT AFFECT ME?

• (3) CURRENT CLIMATE: A GROWING CONCERN

CORPORATE AMERICA…THE WAVE BEGINS

THE PROBLEM

• THOSE WHO DO NOT STUDY HISTORY…ARE DOOMED TO REPEAT IT.

• WE ARE REPEATING IT….

THE PROBLEM• HISTORY OF ID THEFT

THE PROBLEMSPREADING LIKE A VIRUS

• FBI, US Postal, Secret Service, FTC all agree:

“ID Theft Is The Fastest Growing Crime In The United States.”

THE PROBLEM

• 2011: 11.6 Million Victims

• 2012: 12.6 Million Victims

• 2013: 13.1 Million Victims

Your Chances: 1 in 3 every year.

Your Average Cost If Victimized: $3,000.

Each victim will spend (on average): 331 HOURS trying to correct the problems.• Note: You will still have problems on your credit 71% of the time

1.152 Million Arrest Warrants were issued for the wrong people due to ID theft in just one year.

ID Theft: FBI STATISTICS

• Do you have automobile insurance?

• 1 in 88 chance of an automobile accident

• Do you have a homeowner’s policy for fire?

• 1 in 728 chance of a house fire

• Do you have Identity (ID) Theft insurance?

• 1 in 3 chance of becoming an ID theft victim

ID Theft: It Won’t Happen To Me!

2013 VICTIMS:

•The Chief Justice of the Supreme Court

•The First Lady

•The Vice President

•Beyonce

•Mark Cuban

•Think You Are Better Protected Than Them?

ID Theft: It Won’t Happen To Me!

THE OTHER HALF OF ID THEFT

• FINANCIAL ID THEFT = 51% OF ID THEFT

• WHAT ELSE???

• THE OTHER 49% OF ID THEFT:– TAX– MEDICAL– EMPLOYMENT– BENEFITS– CHILD/ELDERLY– CRIMINAL – FAMILY FRAUD

WHAT ELSE: TAX ID THEFT

• SOMEONE FILES A TAX RETURN IN YOUR NAME

• TAX ID THEFT HAS TRIPLED

• > 938,000 FALSE TAX RETURNS IN 2012

• OVER 1 MILLION EXPECTED THIS YEAR

WHAT ELSE: MEDICAL ID THEFT

• A PERSON GETS A MEDICAL PROCEDURE/SURGERY IN YOUR NAME

• MEDICAL ID THEFT: UP 24%

• PROBLEMS: MEDICAL CHART ERRORS

WHAT ELSE: MEDICAL ID THEFT

• The Michael Weatherford Case: Kenneth Marshall took his DL

• Used the stolen DL to obtain medical treatment by identifying himself as Weatherford

• > $345,000 at Ohio State Wexner Medical Center before detection.

WHAT ELSE: EMPLOYMENT FRAUD

• Someone gets a job in your name

• Illegal aliens, felons, people with bad credit

• Why you ask….

Common Examples• Open New Credit Cards

• Obtain Vehicle Loans

• Open New Checking/Savings Accounts

• Lease Apartments, Vehicles, or Equip.

• Obtain Mortgages

• Employment-IRS/SSA

• Telephone, Cable, and Electric service

WHAT ELSE: BENEFITS FRAUD

• Social Security fraud

• Benefits fraud

WHAT ELSE: CHILD ID THEFT/ ELDERLY ID THEFT

• 35x MORE LIKELY NOW

• THE PERFECT VICTIM – They never check

their credit.

CHILD ID THEFT EXAMPLE

• Olivia McNamara: ID stolen at 9 YOA

• Freshman Year: $1.5 million in fraudulent

debt.

• 42 fraudulent accounts opened in her name

WHAT ELSE: CRIMINAL LIABILITY

• Thieves will get arrested in your name.

• Over 1 Million warrants issued for the wrong people every year due to ID Theft.

WHAT ELSE: CRIMINAL LIABILITY

• “Stancy Nesby of Oakland has been arrested, jailed or detained 11 times in 15 months, all because of bogus bench warrants issued in San Francisco….” by Michael Maloney / San Francisco Chronicle

WHAT ELSE: FAMILY FRAUD

• “My credit is terrible…let’s use Junior’s”

• ID Analytic Study:

– In 2011: > 500,000 children under 18 years of age had their ID stolen by their parents.

WHAT ELSE: FAMILY FRAUD

• 2011: > 2 million elderly parents were victimized by their adult children.

• Compared to the last three years, this crime is up by 47%.

WHO YA GONNA CALL: Help Police!!

• The Identity Theft Statute became law in Texas on September 1, 1999

• A person commits an offense if the person obtains, possesses, transfers, or uses identifying information of another person without the other person’s consent and with intent to harm or defraud another.

Help Police!!

• THE ENTIRE ID THEFT UNIT FOR ALL OF DALLAS…..

Help Police!!

Help Police!!

•One person!

•CONCLUSION:

•You are on your own!

WHO YA GONNA CALL?

• THE CREDIT CARD COMPANY WILL PROTECT ME….

• They ONLY cover their account…that is it.

• A credit card in kindergarten: Priceless

• Sun-Times News Group

CLIFFORD HAS ID STOLEN

BUT I’M REALLY CAREFUL

• I PROTECT MY INFORMATION

• I CROSS SHRED

• I LOCK UP MY SS CARD

THEY HAVE YOUR INFORMATION

• YES YOU, READING THIS RIGHT NOW

• 5 MINUTE CHALLENGE: Anyone who knows where to look can find your SS#, DOB, and address in under 5 minutes on the Internet.

• Write me at brandon@keepmyid.org anytime and put me to the test.

WHY IS IT SO RAMPANT?

• WHY??? IT’S EASY!

• Death Master File

• Lexis/Nexis

• Spokeo.com

• Public Mortgage Documents

• Deed Records

• And dozens of others…

WHY IS IT SO RAMPANT?

WHY IS IT SO RAMPANT?

• “…if you know where to look; SSNs can be bought in bulk for $1 each on private online forums, and a specific person’s SSN can reportedly be had for as little as $3.80.”– Adrianne Jeffries from The Verge

DO THEY GET CAUGHT?

• WE STILL CATCH THE DUMB ONES…

Altered Check (A little greedy?)

Check the math?

Fake ID

ALMOST ALL ID THIEVES GET AWAY WITH IT.

• POLICE• CREDIT CARD COMPANIES• FTC• IRS• FBI• POSTAL

• LITTLE TO NO SUPPORT

AN UNFORTUNATE TRUTH

RELYING ON GOVERNMENT AGENCIES IS USELESS.

YOU MUST GET YOUR OWN COVERAGE.

FORTUNE MAGAZINE 2013: “…a standard employee benefit”

CORPORATE AMERICA: THE WAVE BEGINS

• Today more than 300 companies, including T-Mobile, Ford, Toyota, and Google offer ID theft protection as an employee benefit.

By Dinah Eng@FortuneMagazine June 13, 2013

THE WAVE BEGINS

WHY DO THEY CARE?

•#1 – Lost productivity. 1/3 of their workforce will get victimized x 331 hours.

•#2 – Nice Employee (and Family) Benefit. Helps Rankings.

Corporate America

• #3 – Liability!

• “The potential for data breach liability is a financial risk that many companies and public entities are just beginning to recognize and address.  Unfortunately, for too many, the significant financial liability they can incur becomes apparent only when it is too late.” – FMG Law.

IF YOU COLLECT IT…YOU MUST PROTECT IT.

• VERDICTS ALL OVER THE COUNTRY• 2005: $275,000 against Michigan Union

• Michigan Court of Appeals became the first appellate court to allow the victims of identity theft to recover damages (totaling $275,000) from an organization that failed to adequately safeguard personal information that was subsequently used for identity theft.

CURRENT CLIMATE: A GROWING CONCERN

IF YOU COLLECT IT…YOU MUST PROTECT IT.

• $18.58 MILLION VERDICT 2013: Equifax• See:

http://gigaom.com/2009/12/30/rockyou-sued-over-user-data-breach/

CURRENT CLIMATE: A GROWING CONCERN

•WHO ARE THEY GOING TO LOOK TO….

•TARGET…NEIMANS…MICHAELS…AND ON AND ON

•HAVE YOU GOT AN ANSWER FOR THEM?

CURRENT CLIMATE: A GROWING CONCERN

1. BLOCK ID THEFT “Credit Monitoring” = RUN!

2. COVER ALL ID THEFT

51% = Financial

49% = Tax, Criminal, Employment, Benefits, Child/Elderly, and Medical

3. THERE IS NO 100% PROTECTION SO…

GET 100% RECOVERY SERVICES: GET A TEAM TO DO THE WORK

THE SOLUTION

Patrick Crow1-800-664-5936

Email: pat@keepmyID.org