Beyond the classroom: Educate college students on identity theft protection
Young adults between the ages of 18 and 24 are among the groups most at risk of identity fraud. This group’s penchant for using social media, public Wi-Fi and mobile devices to complete financial transactions may all contribute to their risk exposure. Additionally, young adults may not understand how to adequately protect their credit card information, further opening themselves up to fraud.
According to a Javelin Strategy and Research report, identity theft among young adults ages 18 to 24 takes the longest to detect – averaging about 132 days. The average loss amount in this age group is also five times higher than that of any other age group at $1,156 per incident.
In the fight against identity theft, education plays a key role. By educating college students – and all consumers – on the following best practices, financial institutions can help them keep their financial information secure.continue reading »