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Keeping identity theft at bay
From the Orientation 2006 Parent Newsletter
People aged 18 to 29 are the group most commonly victimized by identity theft.
That was the surprising finding of a recent survey conducted by the Federal
Trade Commission (FTC).
Thirty-one percent of the victims of identity theft fall into that age group.
Although college students may think they are unlikely victims—usually
working part-time and owning few assets—they are actually attractive
targets. Students are uniquely vulnerable to identity theft because of the
public availability of their personal information, their easy access to credit—many
receiving daily or weekly credit card solicitations in the mail—and their
lack of attention to credit issues. The FTC survey found that almost 90 percent
of the identity theft cases at universities occur without the victim realizing
it for several months.
Identity thieves use the personal and financial information they gather about
their unsuspecting victims to assume their identities and acquire credit in
their name. Victims can eventually clear their names and credit histories,
but it can be a lengthy and time-consuming process.
In some cases, thieves gain access to victims’ bank routing
numbers from the bottom of their checks and withdraw money directly
from their accounts.
So how can you help your student protect his or her reputation, credit history,
and bank account? Here are a few suggestions you can discuss with your student
between now and New Student Weekend.
- Make sure the door to your room or apartment is always locked.
- Do not give your credit or debit card numbers, personal
identification numbers (PINs), or passwords to anyone, even
your roommates or close friends.
- When choosing a PIN, don’t use obvious numbers such
as your birth date, the last four digits of your Social Security
number, address, or any consecutive numbers.
- Remove unnecessary personal information from your checks,
such as middle name, phone number, and Social Security or driver’s
license numbers.
- Do not give out personal or financial information over the
phone or the Internet unless you know with whom you’re
doing business.
- Beware of “phishing,” e-mails that look like
they come from your bank or other business institution and
ask recipients to “verify” or disclose their banking
information.
- Shred or tear into small pieces pre-approved credit offers
that arrive in the mail before throwing them in the garbage
or recycling bin.
- Monitor your banking, credit card, and phone statements and
report any unauthorized activity.
- Monitor your credit report. Consumers can receive a free
copy of their report yearly from each of the three major credit
reporting agencies.
Additionally, don’t let your student get in the habit of giving others
access to his or her passwords and PINs. If you need access to your student’s
University student records for financial or other reasons (see Granting
parents access to student records), ask the student to grant you
guest access by logging in to One Stop and clicking on Parent/Guest Access rather
than asking for the account’s password.
Tell your student, “Do not share your password or PIN number with anyone.
Not even me.” If students hear this message from parents, they will be
less likely to give their personal information to a friend, roommate, girlfriend,
or boyfriend. |
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