ID theft hitting students' wallets

An apparently harmless, yet actually fraudulent e-mail is the latest scam cyber-criminals are using to steal thousands of dollars unbeknownst to victims until it is too late.

One UW student who responded to the e-mail lost about $9,000, said Detective Douglas Schulz of the UW Police Department (UWPD).

The e-mail scam contains an official-looking bank logo, but "phishing," as authorities call it, is only one of many tricks a criminal can use to overtake a victim's identity and siphon thousands of dollar's from his or her credit account.

"There has been a recent statistical anomaly of financial fraud," said Tom Powell, manager of the HUB's U.S. Bank branch. "In some cases, significant monies have been lost."

In the past several months, there have been about 10 incidents of identity theft affecting U.S. Bank customers at the HUB, Powell said. Which is enough, he said, that people need to be aware of how to protect themselves.

"Identity theft is a hot issue," said Ralph Rocco, UWPD crime prevention officer. Technological advances, he explained, are making it easier for someone to copy checks or access financial account numbers.

Identity theft is not just an increasing campus concern but a growing problem nationwide.

A survey released last fall by the Federal Trade Commission indicated that 9.9 million Americans were victims of identity theft last year alone. The damages to businesses and financial institutions were about $48 billion, while individual victims reported $5 billion in losses, the survey indicated.

On campus, there have not been a lot of incidents, Schulz said, but enough to raise concern.

A recent wallet theft at the IMA eventually cost one man $15,000 to $20,000, Schulz said. He advises people not to carry social security cards or health-insurance cards in their wallet.

"A person who loses their identity may for years be trying to straighten out their credit," said Schulz.

A common ploy for campus wallet thieves is to call the victim and impersonate a bank employee or police officer, Schulz said. The victim will be caught off guard and commonly release sensitive personal information over the phone.

"At no time is any bank or police officer going to ask for your PIN number," said Schulz.

While many may see Internet transactions as a security concern, Powell said banking online is four times safer than mailing checks.

"Online banking is more secure now than ever," he said. Checks, on the other hand, can be stolen from the mail and scanned.

"The banks do everything we can," said Powell, adding that victims have been fully reimbursed for their losses. "But we still need to get the word out so more people will not become victims."