Identity theft is the fastest growing crime in America. According to the Bureau of Justice Statistics, 16.6 million people were victims of identity theft in 2012, resulting in direct and indirect financial losses of an estimated $24.7 billion. Unfortunately, college students can be especially vulnerable to this threat, as they may not realize how important their personal information is and how easily it can be compromised or stolen. Living with roommates, making online purchases and communicating through social media channels are just a few of the ways students can leave themselves dangerously open to thieves on the hunt.
- Parents and colleges play an important role in helping to protect students by explaining risks and offering reminders about the importance of safeguarding their information. This guidance should include these cautions:
Young adults should also be wary of being the victim of scams, or unwittingly participating in a fraudulent activity, such as being approached by someone they don't know with a request to cash in a lottery ticket or use their bank or other account to receive funds such as another person's tax refund in exchange for cash. It is important to use common sense -- if the request sounds even the least bit shady, it most likely is not a legitimate offer. The best course of action is to walk away, not respond to the solicitation or simply hang up the phone, and report the activity to a security officer on campus.
A student who thinks he or she may have been a victim of identity theft should take immediate steps to repair the damage and prevent further harm. The Federal Trade Commission has some great consumer advice on the steps to take, such as placing an initial fraud alert with the three national credit reporting companies and requesting copies of their latest credit reports.
Remember, anyone who uses the internet or is lax in properly shredding and disposing of personal information is a target for fraudsters. Being attentive and developing a keen "sixth sense" on how to protect personal information should be part of all students' core college curriculum.