Steps You and Your College Student Can Take to Reduce the Risks of Info Fraud and Identity Theft
Presented by CollegeTipsForParents.org
College Students are frequently the victims of information fraud. The victims’ parents are often asked to help fix the financial mess and spend considerable time untangling the administrative issues.
Identity thieves often know their victims; either directly or indirectly. Thieves might be their dorm-mates, friends, siblings of friends, classmates, co-workers, current or ex-boy/girlfriends, friends from extra-curricular activities, etc.
Names, addresses, birthdates, social security numbers, account numbers, and other personal data are valuable commodities on the underground market. An ex-boyfriend could easily possess all of this info. In fact, he might even know inside information such as passwords, PIN number, mother’s maiden name, etc.
What are some of the reasons young people are frequently victimized?:
-Casual attitude about taking precautions.
-Naive about security and safety.
-Trusting (often because they have never been swindled before).
-Less likely to review their credit report for unusual activity.
According to MoneyManagement101.com , parents should talk to their kids about identity theft and information security. Although the following tips may seem obvious to experienced adults, a surprising number of young people don’t follow some of the following basic guidelines.
-Never lend your credit card or debit card to anyone, and never share your password.
-Do not print your driver’s license number, birth date, or social security number on your checks.
-When you write a check at a store, don’t allow the store to confirm your check by writing in your credit card number.
-Do not put outbound mail in your mailbox for your postal carrier to pickup. Take your mail directly to a US postal mailbox.
-If your credit card or ATM card is lost or stolen, alert your bank/credit card issuer immediately.
-Avoid using passwords or PIN numbers that might be easy for a thief to figure out (i.e. avoid birth dates, common names, etc.
-Shred any financial documents or anything containing sensitive information before putting them in the trash.
-Always check your credit card statement for charges you did not make.
-Order a copy of your credit report at least once per year. Look out for creditors on your statement that you never applied for.
We will feature additional tips and suggestions on CollegeTipsForParents.org in the near future.