February 20, 2007

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  NEWS: Young Adults Are At Highest Risk for ID Theft

  Javelin Strategy & Research of Pleasanton, CA has completed its annual investigative study of identity theft among Americans. It's conclusion that some 3.7% of Americans faced ID theft last year was actually heartening – it represents a decrease over previous years. One very surprising (and discouraging) finding of the study, however, was that young adults (those aged 18-24 years old) faced the highest risk of having their identity stolen: 5.3%. This seems contradictory, given the relative technological savvy of this demographic as compared with their elders, but there is evidence to support that young adults are no more cautious about guarding their personal information, despite their larger knowledge base.
  
  The Kansas City Star offered several tips to parents for educating their young adult children about identity security. First of all, they advised not to carry all of one's credit cards on the person at one time, and never to carry your social security card – if you need to bring it somewhere necessary, such as to an employer for new-hire paperwork, be sure to replace it in a secure location at home as soon as possible. Also, bank accounts should be protected by using hard-to-figure out PIN numbers and passwords – no dates of birth or "last four digits of the social security number"! Furthermore, one should always cover or stand in the way of the PIN device when entering a PIN number so no onlookers can see what you enter. If your credit cards and/or banks offer electronic statements instead of paper statements, sign up for these. Lastly (and perhaps, most importantly), look up your credit report on a regular basis. By keeping track of what's on it, you stand a much better chance of catching anything suspicious or incorrect that might pop up. You are entitled to one free report from each of the "big three" bureaus (Experian, Equifax, and TransUnion) every twelve months, so make sure you take advantage – pull one every four months, to keep things consistent. These are tips that all consumers –not just the young- so be sure to share them with your family and friends.