Students: Protect Your Identity

College students have a lot to juggle.  The last thing on some of their minds is protecting their identity and credit score. But for young adults, “friendly fraud” is on the rise. This is fraud perpetrated by people known to the victim, such as a relative or roommate.  The Better Business Bureau recommends the following tips for students to help fight identity theft on campus:

• Never loan your credit or debit card to anyone, even if they are a friend. Also, just say no if a friend wants you to co-sign a loan or finance agreement for items like TVs or computers.
• Don’t share too much on social networks. People using social networking for five or more years are twice as likely to suffer identity fraud as those newer to these sites. Javelin research found that 36 percent of people aged 65+ do not use the privacy settings on their network, potentially exposing crucial information to fraudsters. The good news is 89 percent of 25-34 year olds were actively using the privacy settings on social network sites.
• Make sure your computer has up-to-date antivirus and spyware software. Be diligent with installing updates and patches to your computer’s operating system or browser software, which help keep your computer safe from hacking attempts by online identity thieves.
• Important documents should be stored under lock and key. These include social security card, passport, and bank and credit card statements. Shred any paper documents that have sensitive financial information rather than simply tossing them out. Also shred any credit card offers that come in the mail.
• Always check your credit or debit card statements closely for any suspicious activity. The sooner you identify any potential fraud, the less you’ll suffer in the long run.
• School mailboxes are not always secure, and mailboxes in a dorm or apartment can often be easily accessed. To combat sticky fingers in the mailroom, have sensitive mail sent to a permanent address, such as the parents’ home or a PO Box.
• When shopping on unfamiliar web sites, always check the company out first with BBB at www.bbb.org Also look for the BBB Accredited Business seal along with other trust seals and click on the seals to confirm that they are legitimate.
• Check your credit report at least once a year with all three reporting bureaus for any suspicious activity or inaccuracies. You can do this for free by visiting www.annualcreditreport.com