College students, beware of identity theft
Millions of students are heading off to college. For some, it will be the first time away from home. For many becoming a fraud victim is a possibility.
So, what is identity theft? Identity theft is the theft and fraudulent use of another person’s identification and personal information for unlawful or criminal gain. Identity theft costs victims more than $5 billion annually.
College students are a prime target for identity thieves because of their clean credit records. According to the Federal Trade Commission, the highest percentage of identity theft victims are ages 20-29. This age group is more susceptible because they are less likely to regularly track bank account and credit card activity, pay for identity theft monitoring services and use discretion when sharing information on social media.
Your BBB recommends these identity theft prevention tips for college-bound students:
■ Don’t give out personal information.
■ Avoid school mailboxes. They’re not always secure and often can be accessed easily in a dorm or apartment. Instead, have sensitive mail sent to a permanent address, such as a parent’s home or a post office box.
■ Keep important documents under lock and key. This includes your Social Security card, passport and bank and credit card statements.
■ Shred any paper documents that have sensitive financial information, including credit card offers, rather than just tossing them out.
■ Never lend your credit or debit card to anyone.
■ Make sure your computer, laptop, tablet and cellphone have up-to-date antivirus and anti-spyware software.
■ Monitor your bank and credit card statements closely.
■ When shopping on unfamiliar websites, always check the company out first with your BBB. Look for a BBB Accredited Business seal along with other trust seals and click on them to confirm that they are legitimate.
■ Change your password often. Use a strong, unique password to help reduce the chance for a compromise.
■ Check your credit reports regularly. You’re allowed one free credit report per year from each of the three credit bureaus. You can request yours at www.annualcreditreport.com.
What should you do if your identity is stolen? File a police report, contact your creditors and one of the credit bureaus. Also, file a complaint with the FTC at www.consumer.gov/ idtheft or call 877-438-4338.