Presentation my daughter drafted for a class assignment; discusses social networking and risks of identity theft

1. Global Perspectives, Problems with
Social Networking
Assignment:
Social Networking & Identity Theft

2. Introduction – What is Identity Theft..?
 Identity theft is a crime in which a criminal obtains key pieces of personal
information, such as identification numbers or banking details, in order to
pose as someone else.
 The information can be used to...
– Gain access to the victim’s financial (bank or credit card) accounts.
– Obtain credit and purchase merchandise, or make cash advances.
– Secure social benefits, such as social security and drivers license numbers, or
obtain health and/or state welfare services.
 Identity theft can also provide a thief with false credentials for immigration
or other applications.
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One of the biggest problems with identity theft is that the victims of identity theft
are often accused and charged with crimes committed in the victim’s name.

3. The most common types of Identity Theft
The two main types of identity theft are:
 Account takeover identity theft
– A situation where an imposter uses the stolen personal
information to gain access to the person’s existing accounts.
Often the identity thief will use the stolen identity to acquire
even more credit products by changing the victim’s address so
that you credit card bills are not sent to the victim.
 True name identity theft
– When an imposter uses the information to open new accounts.
Such as a new credit card account, or cellular services, or even to
open a new checking account in order to obtain blank checks.
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4. Alarming statistics about Identity Theft |1
 A recent study from Javelin Strategy and Research shows that over 12 million Americans using social
media services were victims of Identity Theft in 2012.
 According to a report issued from the FBI in 2013, Identity Theft is the fastest growing crime in
America.
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34%
24%
20%
Target of an
identity threat
54% Had an account accessed
without their permission
15%
Socially engineered to
disclose password or
other information
13%
Asked to visit a
scam website via
a private message
70%Psychological
Manipulation
Phishing Scams

5. Alarming statistics about Identity Theft |2
 A PC World poll conducted in 2012 reports that one-third of members using social
networking sites have at least three pieces of personal information posted on
their profile that can make stealing their identity easy.
– 80% of those polled said they were concerned about their privacy, while 60% said they
had no idea what their privacy settings were and who could see their personal
information on those sites.
 A study conducted at Indiana University indicates that 16% of students became
victims of a controlled phishing scam, of which 72% believed it was their friend
who sent them the fraudulent link.
 The highest percentage of victims were age 20-29. It is thought that this age
group more susceptible because they are less likely to regularly track bank
account and credit card activity, pay for identity theft monitoring services, or use
discretion when sharing information on social media
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Research shows that millions of people are affected each year, costing victims anywhere from 30~130 hours
of personal time and thousands of dollars to recover and repair their identities.

6. What some people think about Identity Theft..
 Really no big deal.
 Only individuals who lack basic common sense become victims of Identity
Theft.
 Primarily a crime targeting the elderly.
 Statistics are inconsistent and often fabricated by companies selling Identity
“Theft Prevention” services.
 It will never happen to me.
 A low-risk, high reward crime.
 If you steal someone’s identity you can spend all the money you want without
having to pay.
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Regardless of the many opinions on the subject, prudence is often equally as
rewarding as risk..

7. Consequences and penalties of Identity Theft
 Before the Restitution Act of 2008, in the United States prosecutors
had to prove $5,000 in damages before accusing someone of Identity
Theft.
 Under the new law prosecutors merely need to prove that personal
data was intentionally accessed.
 Depending on the nature and degree of theft penalties may vary:
– Repayment of the victim’s losses.
– Repayment of the victim’s losses, plus a $5,000 penalty and 2 years
imprisonment.
– $100,000 in penalties and 5 years imprisonment.
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8. How to prevent identity theft on Social Media sites
 Install theft protection software on all of the computers you use to access social media
accounts.
 Make sure never to click the box to save your password when you are on a public, work or
laptop computer.
 Avoid giving out personal information on social media sites, such as address, phone number
or your birth date.
 Change your privacy settings on all your social media accounts, so that you have control of
all the information that is posted.
 Type in the name of the social media site, or use a bookmark, instead of clicking on email
links.
 Create complicated passwords when you sign up for social media accounts.
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Tip: Some hackers use the "Forgot your Password" link in order to break into your account.
Make sure your security question is not something that could be easily found, such as your
mother's maiden name, your birth date or the city where you were born. Make up your own
questions, or make up the answers so scams cannot use your personal information against
you.