Identity Theft and Young Adults

From our friends at Kroll

Young adults who are transitioning into first jobs or college are entering an entirely new phase of life that carries with it an entirely new level of responsibility. It is a time of great change and in fact may be the first time, particularly if they have just turned 18, that they have ever been able to apply for credit, sign up for utilities, or otherwise make financial transactions without the assistance of parents or guardians. They’ll be expected to handle lots of other “adult” responsibilities for the first time, although the safeguarding of personal information may not be one that readily springs to mind.

The young adult who practices good personal information security can reduce the risk of identity theft which is defined as the fraudulent use of personal identifying information in order to obtain goods and/or services, to work, to commit crime, to obtain a benefit or to prevent revealing “real” identity.

Young adults just getting out on their own are asked to share a lot of personal information with a variety of sources. It is important to share this data responsibly and know what identity theft involves to most effectively reduce risk of falling victim to it. Many people, not just young adults, don’t understand the extent to which identity theft can affect their lives if they become a victim.

Victims face having to undo everything the thief did and until those things are corrected, the young adult who is also an identity theft victim could find it difficult to complete a variety of financial transactions vital to their newly independent lives, such as borrowing money to go to school, financing a car purchase, getting a job, or leasing an apartment.

Items of personal identifying information that need protection commonly include:

1. Social Security Number
2. Date of Birth
3. Address
4. Driver’s License Number
5. Telephone Number
6. Passport
7. Birth Certificate
8. Student Transcript
9. Medical Record

Other personal information to protect includes:

1. Computer login names and passwords
2. Account numbers
3. Photos
4. Other information that tells someone about you

The licensed private investigators at Kroll have put together a list of basic steps that young adults can use to protect their personal data:

1. Do not carry your Social Security card with you routinely. Carry it only when you will need it. Many places that ask for your Social Security number do not need it to do business with you. Ask why it is needed before providing it.
2. Use the privacy features of the internet sites you visit. This includes chat rooms, social networking sites and gaming sites. Sometimes thieves hang out at these sites to try to trick you into sharing personal information.
3. Think before you post to social networking sites. Are the messages or photos you post giving too much personal information to others visiting the site? Information can be gleaned from posts that might help a thief know how to answer security questions on existing accounts.
4. Protect your computer and cell phones with passwords and don’t share passwords with friends.
5. Use security features available to you for computers and phones. Firewalls, anti-virus software, malware detection software and similar features can prevent thieves from accessing your stored information.
6. Beware of phishing messages. A phishing attack is an email, text message or phone call from someone who states they are a representative of a well-known company like your bank or credit card issuer. They tell you there is a problem with your account and then ask you for all your information related to the account. Next your account is wiped out or your information is used to commit other crimes.
7. Do not download items to your computer via file sharing programs without fully investigating whether it is a legitimate file or not. Some downloads can allow a thief to access the information stored on the computer.
8. Do not access personal accounts or enter personal data on a friend’s computer or public access computers like those found at libraries. These computers could be infected with software that could steal your information.
9. Use a safe or lockbox to protect personal documents that contain sensitive information.
10. Choose passwords that would be difficult for someone else to guess. Use different passwords for your various accounts to prevent widespread account invasion should one account be hacked.

If you are heading off to college, consider the following tips from the Better Business Bureau:

1. School mailboxes are not always secure. Have sensitive mail sent to a permanent address, such as a parent’s home or a P.O. box.
2. Important documents should be stored under lock and key. This includes Social Security card, passport and bank and credit card statements.
3. Shred any paper documents that have sensitive financial information rather than just tossing them out. Also shred any credit card offers that come in the mail.
4. Never lend your credit or debit card to anyone. It’s also a bad idea to cosign for a loan for a friend.
5. Make sure your computer has up-to-date antivirus and spyware software. Install updates or patches to your computer’s operating system and browser software.
6. Always check your credit or debit card statements for any suspicious activity.
7. When shopping online, check the company out first with BBB online. Look for the BBB Accredited Business seal along with other trust seals; click on the seals to confirm that they are legitimate.
8. Check your credit report at least once a year with all three reporting bureaus. You can do this for free by visiting www.annualcreditreport.com.

These are simple things a young adult can do to reduce the chance of identity theft issues arising. Such issues would be a distraction to one just starting college or a new job. Avoiding situations that could put your personal identifiers at risk is a good approach to keeping them safe.

 

 

Photo by Don Hankins