Identity Theft: Prevention Tips for Parents and Students



College students need to understand how to protect themselves from falling victim to identity theft and information fraud.

Identity thieves often know their victims; either directly or indirectly. Thieves might be acquaintances, siblings of friends, classmates, co-workers, current or ex-boy/girlfriends, etc.

Names, addresses, birthdates, social security numbers, account numbers, and other personal data are valuable commodities on the underground market. An ex-boy/girl friend could easily possess all of this info. In fact, he/she might even know inside information such as passwords, PIN number, mother’s maiden name, etc.

Many young people have a lax attitude about security. They also tend to be more trusting of others and have a casual attitude about taking precautions. Personal finance instruction website, http://MoneyManagement101.com , strongly suggests that parents and young people talk about personal information security. They should also discuss how their individual circumstances might put them at increased risk of being victimized. Although the following tips may seem obvious to experienced adults, many young people don’t follow some of the following:

-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.

For additional fraud prevention tips, plus explanations of basic money skills that college students need to understand, parents and college students may view a free abridged version of the ebook Money Management 101: Personal Finance Basics Explained to Young Adults. Visit http://moneymanagement101.com/invited.htm