Preventing Identity Theft

The CT Department of Higher Education, in partnership with UConn and CPTV, has created a new online program, "Who Wants to Be Financially Responsible?" to educate students about money management in an interactive game format. Check out Episode #5: Identity Theft for more information on this topic.

Identity Theft and You!!

According the US Office of Inspector General, “Identity theft is one of the fastest growing crimes in the United States, costing victims over $5 billion annually. This crime occurs when someone else uses your personally identifiable information to obtain credit cards, get wireless or phone products and services, obtains loans and mortgages and commits other criminal acts, IN YOUR NAME, leaving you responsible for the consequences.”

The key pieces of information that are used include social security numbers, driver’s license numbers, and credit card information. Even bank account information and cell phone information may result in identity theft if this falls into the wrong hands.

How to Protect Yourself

1. Don’t carry your social security number, passwords or your birth certificate on your person;

2. Don’t use your name or date of birth as passwords;

3. Shred pre-approved credit card applications and other financial documents before disposing of them;

4. NEVER give personal of financial information over the phone or Internet unless YOU initiated the contact. Phishing, or the request for verification of passwords or account numbers is another form of identity theft. If asked for this information, contact the company/agency that is supposedly requesting this information immediately;

5. Order credit reports every year from each of the major credit reporting agencies and thoroughly review for accuracy. By law, you are allowed free annual credit reports from each agency. These credit reports are available via http://www.annualcreditreport.com;

6. Report lost or stolen credit cards immediately;

7. Check your monthly statements for unusual activity;

8. Use a firewall program on your computer;

9. Do not download programs from strangers or click on hyperlinks from people you do not know.

Applying for financial aid or student loans:

1. U.S. Department of Education services are free and password-protected. Use caution when using for-fee financial aid services over the internet or telephone;

2. Apply for federal student aid at www.fafsa.ed.gov. After completing the FAFSA, be sure to close your browser. Beware of other similar sounding websites that charge a fee. There is no charge to complete the FAFSA.;

3. Don’t reveal your PIN to anyone, even the person who may be helping you complete the FAFSA. You should use your PIN only on secure Department of Education systems;

4. Shred receipts and copies of no longer needed documents;

5. Review all financial aid documents, including correspondence from lenders for discrepancies and accuracy.

What to do if you become a victim of identity theft:

1. Contact the fraud department of each of the three major credit bureaus

2. Close the accounts that you know or believe have been tampered with or opened fraudulently

3. File a police report where the theft took place

4. In the case of federal education funds or if you think that your student information has been stolen, contact:

U.S. Department of Education
Office of Inspector General Hotline
oig.hotline@ed.gov
1-800-647-8733

Other Resources

Disclaimer: Nothing on this website should be construed as authoritative financial advice. Your circumstances are unique and you may want to consult a financial advisor. The authors of this website are not financial planners.

UConn Student Financial Aid Services