GREEN BAY, WI (WTAQ) – As college students make their way back to campus over the next few weeks amid the coronavirus pandemic – fighting fraud might not exactly top their list of concerns. However, college students are very susceptible to identity theft; by establishing good habits for monitoring and detecting fraud, students can lay a path for healthy financial practices for the rest of their lives.
The Better Business Bureau has a series of recommendations for college-bound students to take in order to combat potential identity theft on campus.
“The first and most important step is to send sensitive mail to your permanent home address or use a post office box,” says Better Business Bureau Regional Director Susan Bach, “School mailboxes are notoriously not secure, and often can be accessed easily in a dorm or apartment…Anything that has to do with loan information or credit card statements really should either be sent to your home address or to a post office box.”
Important documents should also be stored away safely – not left haphazardly around your dorm or apartment. That includes your U.S. Social Security card, passport, and bank and credit card statements. Any credit card offers or paper documents with sensitive financial information should be shredded, rather than simply tossed in the trash.
“You should definitely make sure that they are stored away safely the majority of identity theft happens when the perpetrator and the victim know each other,” Bach tells WTAQ News, “You are your own gate keeper for your personal information.”
But that risk doesn’t just include paperwork and physical documents. As technology becomes ever more prevalent in education, students have multiple online accounts for different things.
“I think everyone’s guilty of this that we might we use the same password for multiple accounts and that’s really a bad idea,” Bach says, “Once someone like your roommate to or someone looking over your shoulder discovers your password for one account, they may have access to all of your accounts.”
The digital risk extends beyond people hacking into your accounts as well. Many students likely use the same devices for school work and storing personal information – as they do for online shopping and other activities.
“Always have up to date anti virus and spy ware software and oftentimes you can after school if they give that to you for free,” Bach explains, “College students also seem to be inundated with offers to work from home or for credit cards. Oftentimes, those emails are filled with viruses and malware or just fraudulent offers.”
Students also tend to be a bit tight on their finances or budgets, and they may need help when trying to cover payments – or fund something slightly out of their reach. Others may want to help their friends cover those costs, but again, that can pose a significant financial risk for the lenders.
“Never lend out your credit or debit card to anyone. Never offer to co-sign a loan or any kind of financing terms – you could get yourself in a lot of financial trouble,” Bach says.
If your friend wants to borrow your card or asks you to co-sign for a loan or financing for items like a TV, just say no. When using an ATM or credit card machine, it’s also important to be aware of your surroundings and not let anyone ‘shoulder surf’ your personal identification number (PIN).
It’s also recommended to always check statements closely for any suspicious activity. The sooner you identify any potential fraud, the less you’ll suffer in the long run. You’re also entitled to one free credit report each year from one of the three reporting bureaus: TransUnion, Experian and Equifax. You can do this for free by visiting www.
For more information on avoiding potential fraud or identity theft while on campus, head to BBB.org.
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