Category: Identity Theft

Article: How Machine Learning Protects Your Credit Card Transactions

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Nov 27, 2017
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Article, Credit Cards, Identity Theft
How many of you have noticed those texts coming from your credit card companies to verify that a recent transaction is a valid one. Maybe, you were buying an item at a store you hadn't shopped at before or you traveled out of the state (or out of the country). Have you ever wondered how those machine learning algorithms are working in the background to help prevent credit card fraud. Wonder no more! Here's an explanation on how the fraud detection takes place (From The Week): A machine learning...

How To Integrate Personal Finance Content Into Family and Consumer Science Courses

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Nov 15, 2017
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Entrepreneurship, Credit Reports, Personal Finance, Credit Scores, Identity Theft, Investing
A few days ago, Leah Bratcher, Financial LIteracy Program Coordinator for FCCLA reached out to us with an interesting challenge. Leah helps Family and Consumer Science teachers discover ways to integrate personal finance into their courses, which can range from child development to fashion, interior design to hospitality, and more, all while adhering to different standards. As you can imagine, finding ways to weave personal finance into such a wide variety of subjects while meeting standards can...

Time for Some Levity: Cartoons About Credit Cards

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Oct 11, 2017
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Cartoons, Identity Theft, Credit Cards
Questions: What is the main point of the cartoon? How can a person protect themselves if their credit card number is stolen? Are consumers responsible for charges made on their cards that they didn't authorize?   Questions: What point is the cartoonist making? Who is the person "under the thumb?" Who is holding them down? What are the ways that credit cards can do this to consumers?  What are ways that consumers can avoid being "under the thumb" of card companies? Questions: ...

Top 5 on NGPF Blog

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Sep 18, 2017
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Generosity, Identity Theft, Career, Economics, Employment, Compound Interest, Entrepreneurship
Here are the recent posts that have been attracting the most eyeballs: Steal of the Century: Equifax Hacked Looking for more on this event? Check out this list of links I came across today. Let's Pick A Side Hustle Infographic listing 25 "side hustles" which can make for an interesting classroom discussion How to Set Up A Mock Career Fair in Your School The NGPF team participated in this event at Carlmont High School in Belmont, CA. Thanks for John Rowe for inviting us into the...

What I'm Reading...

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Sep 16, 2017
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Identity Theft, Investing, Current Events
Interesting articles I stumbled across this week: Diversification sucks (Bason Asset Management) We all know investors are supposed to diversify their investments. It's really hard in practice though because you accept that not all of your investments will be top performers. This article provides the psychology behind what makes diversification so difficult.  If You Want to Feel Better, Spend Money on Saving Time (Wall Street Journal) "People feel happier when they pay to save time...

Steal of the Century: Equifax Hacked

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Sep 11, 2017
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Current Events, Identity Theft, Credit Reports, Credit Scores
You can't imagine a more enticing target to hack than one of the three credit reporting agencies. As you have no doubt heard at this point, over 1/2 of America has had the "crown jewels" of their financial history stolen. This will be a story that will unfold over months not days as Congress is sure to haul executives up to the Hill for hearings to learn a few things from company executives including: Why did it take months for the company to let the public know about this hack? Why did the...

Charts: Where Is All This Spam Coming From?

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Aug 23, 2017
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Identity Theft, Current Events, Article
At this point, many of you are probably familiar with the Nigerian prince email scam (from ID Theft Resource Center): A common example is an email from a representative of a Nigerian prince who needs to transfer $40 million obtained from an oil contract but cannot use an African bank account and therefore needs your assistance. They will want to use your personal bank account, but first, you need to open a Nigerian bank account with at least $100,000 in it to be a qualified foreign...

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...

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