Students vulnerable to identity fraud, survey says

ALMOST half of all college students are vulnerable to identity fraud according to a new survey.

The NewAddress.ie study showed more than 44% of students fail to notify service providers when they change address.

More than 700 students took part in the survey, which found that 53% of students moved away from home while at college.

“Many students are unaware of the dangers of identity theft they are exposing themselves to,” said Derek Quinn, managing director, NewAddress.ie.

“Personal information is being sent to accommodation in which students had previously lived. These documents can be used to build up a false identity, affecting the victim’s financial circumstances. Identity theft will lead to future difficulty getting loans, credit cards or a mortgage.” .

Aidan Healy, welfare officer of the UCC Students’ Union, urged students to be careful and not just when moving address but also when disposing of sensitive letters from banks.

“Identity theft can also occur when students are careless with throwing out their records. If they’re ever throwing out a statement, or any other document, students should rip off any sections that contain personal information” he added.

Meanwhile, students could be better off waiting until they leave college and get a full-time job before applying for a credit card, new figures show.

A survey by the Financial Regulator showed students can only avail of four of the 19 credit cards on the market — with higher-than-normal interest rates for purchases and cash withdrawals.

* See www.itsyourmoney.ie.