Identity Theft - Beverly Hills High School

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					By: Nicole Okhovat and Mara Ragan
          AP Gov. Period 5
              What is Identity Theft?
            (A Mind Boggling Issue!!!)
• Identity theft refers to
  the crime of someone
  trying to impersonate
  you by stealing your
  personal information.
• The stealing of social
  security numbers and
  credit cards are
  popular forms of
  identity theft.
• Identity Theft can be committed in many
  different ways:
     Why is Identity Theft important to us?
• Do you want to get
  robbed? We don’t think
• Identity theft has many
  consequences, such as
  the victim losing lots of
  many…and not just
  pocket change.
• Identity Theft disrupts
  the economy because
  those working hard are
     Something to Consider

Click HERE to view Identity Theft
           Financial Privacy and
           Identity Theft Issues
• If unemployment
  increases, it is likely
  that more people will
  turn to crime to make
• It is important to keep
  all personal information
  highly confidential!
• You apply for a job and application says
  “Social Security number (optional)”, don’t
  give it away.
  – You DON’T KNOW who can get a hold of that
     The House Bill vs Cali Bill
• 1996 Fair Credit Reporting Act promotes
  accuracy, fairness, and privacy of personal
• The House bill prevents financial
  companies from gaining access to consumer
  finances without the consumer’s consent.
• House bill is heavily lobbied by financial
This is why protection is needed:
    Difference between House Bill and
              California Bill
• The California Bill allows residents to
  get free monthly credit reports and
  businesses must put fraud alert on
  victim’s report within 5 days of incident
• House bill would eliminate all these
• House of Reps claims they do not
  want to “injure California
   Why Congress wants to overturn
       California’s measures
• Mainly banking lobbyists are behind the push to
     overturn the California Bill.

                                – The financial
                                  services industry
                                  for legislation is
                                  ultimately in
                                  favor of
                                  abolishing state
                                  and local laws.
      The Reason for Overturn
– Apparently the
  banking industry
  believes that these
  “laws” give
  consumers too
  much control over
  their own financial
 (But, isn’t this
  rightfully the
                One Other State for
               Comparative Purposes

• Compared to California’s version of the Fair
  Credit Reporting Act, Alabama’s
  representatives believe it would not be
  beneficial for California to “dictate rules,” for
  every state.
  – This opinion thus demonstrates Alabama’s
    differing views from those of California, on the
    issue of the Act’s domination.
      Top Ten States for Identity Theft
                      (on per-capita basis)
   State            Victims/100,000     Total victims
1. Arizona                142.5             8,186
2. Nevada                 125.7             2,935
3. California             122.1             43,839
4. Texas                  117.6             26,454
5. Colorado               95.8              4,409
6. Florida                92.3              16,062
7. New York               92.0              17,680
8. Washington             91.1              5,654
9. Oregon                 87.8              3,156
10. Illinois              87.6              11,138

Source: Consumer Sentinel
Senator Oxley’s Comment
        • Senator Oxley is warning that
          with so many variations of
          “state standards” regarding
          Identity theft, there may
          ultimately be confusion from
          state to state.
          – With this in mind, his
            comment is saying that under
            the Fair Credit Reporting Act,
            everyone would have to follow
            the same guidelines, essentially
            allowing for a sense of
Which is Better? Cali or the House’s
   Fair Credit Reporting Act?
• California’s FCRA is more favorable
  towards its residents
• Allows consumers to get monthly credit
  reports for one year at no cost to them =
  More money for you to spend at the
  holiday sales!
Why CA’s FCRA is better
              • Consumers are better
                protected because their
                information is kept more
                confidential than if the
                House Bill became law.
              • House bill would give
                out more of your
                personal other
                financial companies
              • This may lead to fraud…
       Maxine Waters’ Comment
• Maxine Waters’ comment, refers to the fact
  that Conservatives usually push for states’
  – Waters is a Democrat.
• This deviation from the
  normal wants of each party,
  demonstrates that what is
  good for one party, does
  not necessarily benefit
•So Remember:
Be safe and don’t fall victim to

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