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October 10th, 2005

Identity theft is a major problem throughout the U.S.; in fact the Federal Trade Commission estimates that up to 9 million Americans have their identity stolen in one way or another each year. Even worse news is that college students appear to be at an increased risk of falling victim to the worst consequences of identity theft.

Young adults aged 18-24, or traditional college-aged students, are considered particularly at risk for identity theft because it takes this age group much longer on average to realize that their identity was stolen. Young adults also tend to lose more money on average through identity theft than other age categories. So what steps can you take to protect yourself?

One of the first things you can do is sign up for identity theft protection at your bank. Many major banks offer this service to their customers for a small fee. These services usually mail you a quarterly credit check that will give you a head’s up anytime a credit card is opened in your name, an address has changed in your name or other tell-tale indicators that your identity has been stolen. Identity theft protection sometimes also covers the cost of an insurance policy that reimburses you for lost money if you fall victim to identity theft. If you don’t want this service, you can opt for getting a free copy of your credit report online once a year.

A practical item to have on hand to prevent identity thieves from getting their hands on hard copy personal information is a cross-cut paper shredder. After you have reviewed all of your paper bills and credit card statements, either stow them away in a lockable file cabinet or shred them so that no one can make off with your name, address and account numbers. An even better idea is to go paperless so that identity thieves can’t get their hands on hard copies of your personal information at all.

It’s also important to get in the habit of logging out of your e-mail and social network accounts when you leave a public computer on campus all the time, every time. This keeps strangers from accessing vital personal information electronically. Install antivirus software and spyware protection on your personal computer or laptop.

Finally, do not keep your Social Security card in your wallet, purse or backpack. Since there are relatively few occasions that you will actually need it, there’s no reason for it to be so easily accessible. Memorize it and keep it in a safe deposit box or locked file cabinet.

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