Category: Identity Theft

Article: What Can $15,001 Of American Girl Purchases Teach Us About Credit Card Fraud?

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Jun 20, 2017
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Identity Theft, Research, Credit Cards, Current Events, Article
This is how it all began, innocently enough (from MarketWatch; 7 minute read): I was at my desk the other day when my phone buzzed out a warning: My credit card had just been charged $1. No such dollar had been spent by me, but I didn’t think much of the notification. Typically, such unexpected charges have perfectly legitimate explanations given my various subscriptions and recurring monthly charges, all of which come at different and unexpected times. How does a $1 charge turn into $15,000...

Quiz: Can You Outsmart an Identity Thief?

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Jun 07, 2017
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Identity Theft, Quizzes, Interactive
Good ten question quiz to teach your students about many of the methods that identity thieves use to steal your identity. __________ Innoculate your students against identity theft with this NGPF Lesson on the topic or get their attention with this frightening interactive “Have you been hacked?“.   ...

What is Bitcoin and How Does Cryptocurrency Work? (A Primer)

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Jun 01, 2017
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Current Events, Identity Theft, Investing, Financial Literacy, Payment Types, Article, Math, Cryptocurrencies, Economics
Recently, Bitcoin, the most famous of the cryptocurrencies, has soared to all-time highs (Fortune, May 2017), increasing the amount of press attention and internet searches (Google Trends, May 2017) surrounding the little-known digital currency.  We’ve also heard this question from many of our users, “what is Bitcoin and what do my students need to know about cryptocurrencies”?  You are not alone!  83% of respondents in a 2015 survey conducted by PwC were “slightly...

Resource Lists for Financial Educators (courtesy of Barbara O'Neill of Rutgers Cooperative Extension)

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Mar 28, 2017
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Activities, Credit Scores, Career, Paying for College, Research, Budgeting, Credit Cards, Identity Theft, Personal Finance, Investing, Mutual Funds, Savings, WebQuest, Financial Literacy, Student Loans, Checking Accounts, Debit Cards, Payment Types, Stocks, Current Events, Insurance, Video Resource, Case Study, Credit Reports, Employment, Quizzes, Entrepreneurship
What does a distinguished professor do during her sabbatical? Curate personal finance resources, of course! In this blog post, Barbara O’Neill shares the fruits of her hundreds of hours of labor in putting together three awesome resource lists (see bottom of post for links to her lists), including what what she considered the “best of the best” from the NGPF library. As she describes below, the purpose of her odyssey was to replenish her “well” of creative...

How Can You Protect Your Online Accounts from Hackers?

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Feb 28, 2017
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Identity Theft, Current Events, Article
Some great advice from WSJ (subscription) as identity thieves continue to develop more sophisticated strategies to steal your identity. Moral of the story: You are your own worst enemy when it comes to giving up information when you should not be. A few highlights and some strategies to protect oneself: Phishing is the most common online scam: Online cons are called phishing. If you’re sure you already know all about them, think again. Those grammatically challenged emails from overseas...

WebQuest: How To Protect that Credit (and Debit) Card!

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Jan 31, 2017
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Identity Theft, Activity, Credit Cards, WebQuest, Debit Cards, Current Events, Financial Scams, Activities
I am always amazed when I am searching Google for interesting news stories about credit cards how frequently the articles detail how the “bad guys” manage to steal credit card information. Identity theft can seem like an adult problem to many teens (unless their parents or they have been personally victimized), so I thought this quick WebQuest might bring the topic home to them.  I thought it would be interesting to provide an update to my earlier 2015 post titled (apologies to Paul...

Question: What Are The Ten Most Popular Passwords?

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Jan 19, 2017
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Identity Theft, Question of the Day, Research, Current Events
          Before I answer, please let your students know if their password shows up below on this list, they better change it NOW! Answer (from Consumerist): Here is the full list, and again — if your password is anywhere on this list, change it immediately to something more secure: 1. 123456 2. 123456789 3. qwerty 4. 12345678 5. 111111 6. 1234567890 7. 1234567 8. password 9. 123123 10. 987654321 _______ Want to help your students develop those skills to protect their...

Chart: How Is Card Fraud Committed In US Compared to Rest of the World?

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Jan 11, 2017
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Article, Question of the Day, Research, Identity Theft, Current Events, Chart of the Week
From Federal Reserve Payment Study 2016: Questions for your students: Based on Figure 4, does more fraud occur with in-person or remote card transactions? How does the distribution of fraud vary between the U.S. and other countries? Which fraud types occur more frequently in the US? Which occur less frequently? The U.S. recently implemented higher security “chip” cards which these other countries implemented years ago. What would you forecast this distribution of fraud data for...

Question: How Long Does It Take a Hacker To Steal Your Credit Card Information Online?

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Dec 08, 2016
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Identity Theft, Research, Debit Cards, Payment Types, Current Events, Video Resource, Credit Reports
Answer (from Newcastle University research): About 6 seconds (yikes!) [This should grab your students attention!] From Thrillist: According to new a paper authored by Newcastle University researchers, hackers can mine your financial information using simple guesswork, spread out across multiple websites. When the process, known as a Distributed Guessing Attack, is coupled with a specifically designed toolkit, it isn’t very hard to exploit the security systems of major e-commerce sites…...

Question: What's the Difference Between Debit And Credit Cards?

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Nov 22, 2016
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Debit Cards, Credit Scores, Question of the Day, Credit Cards, Identity Theft, Payment Types, Current Events, Article
Students are often confused about this distinction between debit and credit cards. Here are some resources that help show the ways in which they differ: Video: When You Should Use Credit Over Debit Cards (WKRG.com) See if your students pick up on the inaccuracy in the video. The reporter says “If you lose money using your debit card, you’ll likely never get that money back.”  Video: How To Choose Between Debit and Credit (CNBC): Article: Credit, Debit Cards not...

Question: What Is Fastest Growing Area for Credit Card Fraud?

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Nov 02, 2016
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Article, Question of the Day, Research, Credit Cards, Identity Theft, Current Events, Chart of the Week
Hint: Crooks have figured out ways to circumvent the chip cards. Answer (from WSJ): “Card-not-present” fraud. So, what exactly is “card not present” fraud? From Wall Street Journal: “The rate of online card fraud is rising sharply as a growing number of purchases take place on the internet while brick-and-mortar merchants race to lock down vulnerabilities in the checkout line. That is prompting new steps to try to curb the threat: The credit-card industry on...

Interactive: Have You Been Hacked?

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Sep 25, 2016
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Identity Theft, Question of the Day, Research, Current Events, Credit Reports, Interactive
Answer: Yes, your personal information has likely been compromised. With the recent news of the massive Yahoo breach (500 million people), NYTimes created this interactive so an individual can see how often they are likely to have been hacked and their personal information that is out there on the dark web. Your students will select the websites that they have accounts on and discover what personal information has been exposed to hackers. Good reminder for students about the importance of 1)...

Looking At A Checking Account Through a Teen's Eyes

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Sep 12, 2016
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Activity, Budgeting, Identity Theft, Savings, Checking Accounts, Debit Cards, Financial Scams
One trap I am constantly trying to avoid in my work is what I would call the “specialist’s mindset.” It comes from studying a subject for a long period of time and manifests itself in several ways, including heavy use of jargon and terminology. Oh, and it also comes with a belief that everyone somehow has a similar level of knowledge about your specialized topic. This leaves the specialist wondering why you might get a quizzical look when discussing the merits of index...

NGPF Podcast: Tim Talks To Colleen Poynton and Alex Davidov About The FinTech Revolution

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Aug 30, 2016
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Audio Resource, Career, Budgeting, Identity Theft, Payment Types, New Products, Current Events, Employment, Podcasts
Thanks to Colleen Poynton and Alex Davidov of Core Innovation Capital for recently appearing on the NGPF podcast. As venture capitalists, Colleen and Alex invest in promising early-stage companies in the financial services sector. As such, they have a front row seat to the innovative companies disrupting the status quo and changing the way we pay, we borrow and we invest (to name just a few). Colleen and Alex also provided insights into the changing nature of work (aka “the gig economy)...

NGPF Podcast: Tim Talks to Credit Card Guru, Sean McQuay

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Jul 25, 2016
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Credit Cards, Credit Scores, Behavioral Finance, Identity Theft, Debit Cards, Current Events, Credit Reports, Audio Resource, Podcasts
Credit cards reign as one of the most ubiquitous financial products for consumers. Yet, they are often still not well understand by cardholders and non-cardholders alike. To bring some clarity to the credit card world, I was fortunate to have Nerd Wallet’s credit card guru, Sean McQuay, join me on this NGPF podcast to help answer such questions as: Why are those 0% APR offers so prevalent? Why can’t you find out the interest rate on your new credit card until it arrives in the...

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