ID Theft

Losing Your Identity

Ever wake up some days and just wish you were somebody else? Would you be surprised to know that lots of people would like to be you? Well, at least they want to be part of you, the part that has a clean credit report and lacks debt (you do lack debt, right?).

The reason is that they want to steal the identity of people with good credit, and use that to get credit for themselves and run up big charges in your name. According to the Federal Trade Commission, of all reported victims of identity theft, 31 percent were young people.

Identity thieves steal information—your name, Social Security number, birth date, passwords, or credit card numbers—to create accounts in your name that they use. Thieves can open credit accounts, purchase and use cell phones, order merchandise, even take out home loans. With just your name and Social Security number, a thief can forge an identity that ends up costing you money, time, and embarrassment. Clearing your name can take years. That won’t be fun when it comes to applying for financial aid when you want to go off to the U.

Phishing - Don't Take the Bait

Seem kind of “out there”? It not as hard as it sounds, and you may be the one helping them do it.

One common way to steal information is phishing, which is sending e-mail that looks like it comes from a legitimate source, such as a bank or software company. Some of these criminals are very sophisticated. Phishers create anxiety and count on consumer ignorance to get responses. No legitimate company will send you e-mail asking for account or credit card numbers. If something triggers your personal lie detector, it’s probably a scam.

If you get a message like that, don’t click the links. If you do click a link, don’t provide any information. Many spoofed Web sites look just like the real thing, but real sites won’t ask for secure information “to confirm your account status.” If you’re not sure the site you’re on is genuine, open a new browser window, go to the real company’s Web site, and look for information on phishing scams.

Smart Stuff

A few precautions can limit your exposure to identity thieves:

• Again, don’t share your personal information with anyone on the web. It’s called “personal” for a reason. Keep it that way. That’s important for your financial and personal security.
• Use secure passwords. A secure password has at least eight characters, uses a mix of uppercase and lowercase letters plus numbers or symbols, and isn’t easily guessed.
• When shopping on the Web, be sure the URL of any site where you will enter financial information begins with https:// and features a yellow lock icon in the bottom right corner.
• If you’re lucky enough to have a wireless laptop, you’re probably better off not making transactions over a wireless network. A nearby thief with a wireless connection could pick up your information.
• If you use computers in a library or Internet café, log off completely before you leave. Don’t use these machines for buying online or online banking. You don’t know what software is installed on these machines.
• If you think you may have been tricked, tell your parents now and work together to assess your risk and take any action necessary with credit cards and banks.

If you start getting more junk mail from credit card companies than before, that could be the first sign your identity has been compromised. (Or maybe you just started a magazine subscription.)

Surfing the Web, sending e-mail, and sharing instant messages with your friends are all exciting and fun, but like a lot of things they can have consequences if done unsafely. A few preventive measures can preserve your identity for its rightful owner: you.