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Steps You and Your College Student Can Take to Reduce the Risks of
Info Fraud
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.org, 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.
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