And Summer Vacation Hasn't Even Ended Yet

In last week's Data Breach Roundup, we saw a couple of universities being breached. It isn't the first time, that there have been multiple schools breached, and if we had to guess, it won’t be the last.

One of the bigger concerns when it comes to breaches of students (and really, anyone who is young), is that thieves become able to cause long term, significant trouble for the demographic.

Usually, college is when a kid gets his/her first (and maybe second or third) credit card. However, we've found that most kids don't really understand the process of how they are approved, just that they think they have a few hundred extra dollars available.

Where it becomes tricky is when a thief takes advantage of this, and opens a concurrent line of credit. It's entirely possible the thief will actually take steps to build up the youngster's credit history, paying on time and generally doing everything a college kid should in order to build strong credit.

This can go on for years.

After a while though, and once a credit history is strong enough, thieves can make major purchases (like cars or even homes), flip their purchase for a significant dollar amount, and then simply walk away.

The "college kid" (who at this point is much older), would never even have an idea that the theft has taken place until

1- Years later
2- A collection agency calls asking them about a mortgage.

So, now more than ever, college kids needs to protect themselves. Over the coming month, we'll be providing regular tips on how they can do so, as we get ready for back-to-school season.

Posted by Mike