College-Age Adults at Increased Risk of Identity Theft

Connecticut Better Business Bureau Explains the Risks and Tips to Lock Down Personal Information

College-age adults have many responsibilities to manage when it comes to school, work and their social lives, so they may not be preoccupied with the protection of their personal information. That may explain why almost one quarter of identity theft victims are young adults. 

According to the Consumer Sentinel Network database, 57,491 consumers between the ages of 20 and 29 fell victim to identity theft in 2012.  That number accounts for 21 percent of the total number of identity theft complaints reported last year- the largest out of any 10-year age range. 

Identity thieves look to college-age adults because they often have clean credit scores, making them ideal targets, but also because they tend to share passwords, don’t always log-off computers, conduct online transactions on shared computer systems and use WiFi hotspots that are vulnerable to hacking.  It’s vital that students are aware about identity theft and other scams they might encounter when living on their own for the first time. 

Aside from the hi-tech forms of identity theft, it is often and easily committed through crimes of contact such as robbery, theft of papers and incoming and outgoing mail.  Young adults are especially susceptible to “friendly fraud,” committed by people they know such as a roommate or friend. 

BBB offers these simple steps college students can take to protect their identity: 

Secure your mail - Campus mailboxes can often be easily accessed in a dorm or apartment.  Have sensitive mail sent to a permanent address such as your parents’ home or invest in a secure post office box. This will also lessen the complications of multiple addresses. 

Store safely - This includes your social security card, passport and bank and credit card statements. Shred all paper documents that contain sensitive financial information and any credit card offers that come in the mail. Pull your credit report at least once a year. 

Safeguard your information - Don’t share your information with anyone without knowing why it’s needed. Most schools now use a student identification number instead of a social security number for added protection.

Check your statements frequently - Look for any suspicious activity or purchases on your debit or credit cards.  The sooner you identify potential fraud, the sooner any fraudulent charges can be refunded.

Check your credit report at least once a year - You are entitled to a free credit report every 12 months from each of the credit reporting agencies.  These are available free of charge through the government-sanctioned website www.annualcreditreport.com.  The site requires your Social Security number and date of birth to authenticate your identity.  Request a report from one of the three major credit monitoring agencies every four months to keep a year-round watch on suspicious activities, unauthorized lines of credit and inaccuracies.

Consider identity theft protection services - If you are unable to routinely monitor your accounts and information, consider enrolling in identity theft protection services.  These services help monitor your credit and public records for suspicious activity and will alert you if and when something is found.  Some of these services also offer additional recovery and resolution help should you fall victim to identity theft. 

-Submitted by Howard Schwartz, Executive Communications Director, Connecticut Better Business Bureau 

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