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Identity theft has become a significant problem in todays society. In fact, advanced technology has made the situation much worse. Millions of people are affected by identity theft daily. A recent report by Consumer Sentinel Network (CSN) states that in the year 2018, 440,000 people experienced this kind of theft, with college students accounting for 40% of the people affected (10). Most college students do not have enough cash flow to permit ownership of different accounts making them less at risk of identity theft; however, this does not exclude them from being targeted. College students need to protect themselves from identity theft to avoid getting associated with false tax returns, losing valuable money, avoiding damaging their reputation, and avoiding getting involved in criminal activities.
One of the main effects of identity theft is losing large amounts of money, and getting a bad credit report. This usually happens when a person steals personal information and is able to access unlawfully, the victims personal accounts, in the event, they have money they are wiped clean. Alternatively, personal information obtained illegally can be used to set up other credit card accounts. Then the person involved will proceed to take on loans and make purchases of large amounts of money that the student might not even be able to afford. According to the Justice Department Bureau statistics, an estimated 7.7 million people reported fraudulent use of their credit cards in the year 2018 (Baird, para 2). This kind of identity theft is associated with friendly fraud, which occurs when new roommates or friends steal IDs or target phishing expeditions on their roommates or friends (College Students Protect, 618). Because of the nature of college (interacting with people quite often), students should protect their personal information at all costs to avoid getting into bad debts so early in life; because they are most susceptible to this kind of fraud than any other group.
When people steal personal data, most of them use them in all kinds of activities including engaging in criminal activities using the victims names. Hackers know that college students are not careful when it comes to their personal information especially. Most students leave their laptops and IDs unsecured, therefore, to steal personal data such as social security numbers, among other important documents to engage in criminal activities (College Students Protect, 618). Leaving passwords vulnerable in personal laptops can also lead to breaches of security. Personal information may then be used to conduct illegal activities at the expense of the victim. The worst-case scenario is when the victim has no idea that someone else has stolen their identity and is carrying out illegal activities in their name. So, there this may go on for years without the knowledge of the victim.
A good example of this is when the hacker uses fraudulently acquired personal information to create bank accounts that transact money removed from other peoples accounts. Therefore, the account names reflect in criminal records; can be problematic to the victim especially when it comes to looking for a job after graduating. It leads to a scenario whereby the victim is unable to secure a job because of a criminal record he/she knows nothing about. To avoid being involved ending up with a criminal record that they don’t know anything about, college students should be cautious when it comes to their SSN, IDs, and their financial statements. Victims can find themselves in trouble with the law, and certain cases might be hard to prove. At times the victims find themselves incurring costs associated with legal fees before the matter is solved and the victim proves his/her innocence.
Identity theft is not only restricted to the misuse of personal information; it can also entail hacking and taking over social media accounts. When a social media account is hacked, it may be hard to take it back, and this can lead to a series of events where the hacker uses the account to spread false information and ruin the victims online reputation. It may even be worse when the hacker creates a false profile and starts posting negative things- such accounts are hard to delete, and this can have disastrous consequences. The stress of experiencing identity theft can impact the victims life negatively; it can cause emotional instability leading to the disintegration of relationships between the victim and the people in their lives Especially in situations whereby there is no way of managing these social media accounts. All these issues can be avoided if college students take the initiative to secure their social media accounts rather than end up with the problem of securing a job upon graduating.
Tax identity theft has been on the rise for the past three years. It usually occurs when someone uses compromised information to apply for a tax refund and then take the money (How to Prevent). Victims of tax refunds are typically subject to imposter scams, data breaches, stolen mail, and phishing scams (How To Prevent). This form of identity theft can land the victim in a lot of unforeseen trouble once the tax refund is recalled. It can affect personal savings, and any other assets the victim owns. To avoid instances where on completion of college the student is engaged in a legal battle with tax authorities or has to pay up the refund, extreme care should be carried out, especially when it comes to opening any links or files online.
In summary, this is the age of innovation and there is room for more technological innovations globally. With technological advancement comes the risk of identity theft and fraud. College students are not exempt from such activities they should protect themselves from identity theft to avoid losing money, be engaged in legal battles and to avoid ruining their reputation. There are several ways in which this can be done i.e. avoid sharing the nine-digit SSN, use strong passwords and do not leave them vulnerable, and lastly when transacting online only providing financial information on secure sites. If these practices are implemented, most students would be safe from losing money and getting scammed.
Work Cited
- Baird, Joselyn. 4 Ways Identity Theft Can Impact Your Life. Next Advisor. Retrieved from: https://www.nextadvisor.com/x-ways-a-theft-can-impact-your-life/
- How to Prevent Identity Theft on College Campuses. safety team. Retrieved from: https://www.safety.com/prevent-identity-theft-college-campuses/
- Million Fraud Reports. Consumer Sentinel Network. Retrieved from: https://www.ftc.gov/system/files/documents/reports/consumer-sentinel-network-data-book-2018/consumer_sentinel_network_data_book_2018_0.pdf
- WW. College Students: Protect Yourself from Identity Theft pp. 618-619
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