“But he that filches from me my good name/Robs me of that which not enriches him/And makes me poor indeed.”

- Shakespeare, Othello, act iii. Sc. 3.

I often relate these posts to students. This is for a number of reasons. For starters, this group is a little more naive when it comes to credit theft. They use their debit or credit cards everywhere and with little to no responsibility. Being a member of this group not too long ago, I feel a deep sense of responsibility when it comes to educating these college students. You and the $29.47 in your bank account are more of a target than you realize.

According to Javelin Strategy and Research’s 2010 Identity Fraud Survey Report, more than 11 million people became victims of identity theft in 2009. Young adults aged 18-24 took an average of 132 days to detect identity theft. Subsequently, the average cost ($1,156) was roughly five times more than the amount lost by other age groups.

Let’s face it, as a college kid you have more important things to worry about: There’s that girl in R-216, getting to work and class on time, and most importantly developing a booming social life. It can be a tremendously difficult lesson to learn at an age where it shouldn’t even be a risk. Sorry guys. You are an easy target.

“Identity thieves don’t care if you’re a struggling student and don’t have a penny to your name; all they want is to exploit your clean credit record,” said Matthew Fehling, BBB President/CEO. “Young adults who establish good habits for monitoring and detecting fraud are creating a healthy financial road for the rest of their lives.”

This portion of the post will hopefully ensure a more college kids get to spend their nights at parties and not on the phone with credit card companies and bank hotlines. Here are the major guidelines for college students:

Have sensitive mail sent to a PO Box or a parent’s home. A lot of times these student mail boxes aren’t secure. The sorting of the mail is often a paid student position as well.

Get a lock box. It will be your treasure chest.

Use your lock box.

Don’t put any revealing info on your social media pages. Maybe your email, but that’s it.

Don’t give your plastic to anyone. Even friends can be tempted or act irresponsibly with your cards.

Check bank statements and credit reports regularly. It takes very little time and will prevent you from becoming an unaware victim.

Report weird charges and possible fraud.

Protect your computer. Spyware, antivirus, and passwords people. They are not that expensive. This also means watch where you surf the web and where you online shop.

Watch the free gift with sign-up credit card offer stands. A lot of college students do this: they sign up for a card for the free t-shirt and then never activate it or use it. This practice welcomes fraud.

Everyone and their dog will ask for your SSN while you are at school. There are other things that are just as good and identifiable. Authority or not, sometimes you don’t need to give it out. Guard that XXX-XX-XXXX with your life.

Related Sites:

ED.gov, Identity Theft: http://www2.ed.gov/about/offices/list/oig/misused/idtheft.html

Fraud Victim Handbook: http://www.fraudaid.com/How-To-Deal-With-Having-Been-Conned/index.htm

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