Tips For College Students to Avoid Identity Theft

In a news release, the Better Business Bureau (BBB) said college students are at high risk for identity theft.

“Identity thieves don’t care if you’re a struggling student and don’t have a penny to your name,” said BBB President and CEO Michelle L. Corey in a news release.

Thieves only need a clean financial record to commit crimes, Corey said.

To protect themselves, students need to develop a habit of monitoring and finding fraud in their credit histories, she said.

Aboout 8.1 million Americans lost about $37 billion due to identity theft, according a Javelin Strategy and Research cited in the news release.

People ages 18-24 are the least able to spot identity theft compared to other people, the news release said.

People in that age group needed more than four months to realize someone had damaged their credit history or used their identity, the news release said.

The BBB said college students should use the following seven tips to prevent identity theft:

• Send sensitive mail to parents’ homes only. School mailboxes are not secure and are easily accessed in a dorm or apartment.

• Store important documents in a lockbox or safe. Social Security cards, passports, bank statements and credit card statements are the keys to identity theft. Shred documents that have financial information instead of throwing them in the wastebasket.

• Never give a credit or debit card to anyone. Also, do not cosign for a loan to help a friend buy electronic items, such as a TV. Co-signers are responsible for missed loan payments. 

• Update antivirus and spyware software on personal computers. Identity thieves rely on special programs, transferred to personal laptops and computers from numerous websites, to duplicate people’s passwords, user IDs and bank account information.

• Always check bank statements and credit card bills. Always question unknown purchases. The sooner people remove those strange purchases, the less likely they will have financial problems. 

• Ask the BBB about websites. The BBB places an Accredited Business seal on verified websites. People should click on the seal to confirm it is an authentic item.

• Check credit reports each year. People are entitled to one free report annually from TransUnion, Experian and Equifax, the three credit reporting bureaus. Report any inaccuracies.

For more advice visit www.bbb.org or call 314-645-3300