Protect your ID

With the increasing prominence of online transactions and data management systems, identity theft has become an everyday concern for the common citizen. By hacking into bank account databases or soliciting personal information through cleverly designed schemes, prospective identity thieves now have more techniques at their disposal than ever before.

An insidious new form of ID theft is the fake check, which involves a scam artist answering a classified ad and offering to pay for the advertised item with a personal check, cashier’s check, or corporate check.

Before the check is sent, however, the scammer devises a way to “accidentally” write the check for more than the item’s price. They then request that the recipient deposit this check and then wire them back an amount equal to the difference between the “erroneous” check and the advertised item price. Unbeknownst to the victim, they have deposited a check from an intentionally under funded account, which then bounces. The victim is then liable for the full amount of the fraudulent check.

Besides the fake check scheme, many other methods are used by ID thieves. These include “dumpster diving” for account numbers in garbage, phishing, changing the victim’s address, and stealing their wallets or financial statements. They can then use this information to gain access to existing accounts or create new ones, rent items, or claim government transfer payments in the victim’s name. Due to the multitude of schemes employed by such criminals, it is essential that you safeguard your account numbers and Personal Identification Numbers (PINs).

If you suspect that your identity has been stolen or is about to be stolen (e.g. your wallet has been stolen), you can freeze your credit report to prevent unconfirmed access, close accounts you suspect to be affected, or file a fraud alert.

This can be negotiated by contacting one of the credit reporting agencies (Equifax, Experian, or TransUnion) and posting either an initial alert, which will remain valid for at least 90 days, or an extended alert, remaining on your report for seven years.

You may also want to file a police report on the incident and the suspected perpetrator. Unfortunately, some police departments remain hesitant to file such reports. In such cases, filing an ID theft report with the Federal Trade Commission (FTC) will help them identify threats and catch the perpetrators. You may also want to contact other police departments for assistance.

Although we have discussed several methods of recovering from identity theft, the most effective method is to remain vigilant to potential theft schemes and avoid them in the first place. Remember that while identity theft may seem ubiquitous in today’s electronic society, there are ways to safeguard oneself.

Written by Elizabethtown College Students In Free Enterprise, a nonprofit organization that teaches others the principles of free market economics. Students, faculty and staff are strongly encouraged to visit the SIFE blog at http://etownsife.blogspot.com/. Contact sife@etown.edu with any questions.

This article was originally published in the Etownian on Thursday, January 31st.

Sife Sense - Going Green (Extended Edition)

Authors Note: This is an extended edition of the Going Green article that appeared in the Etownian, it contains additional ideas and ways to be friendly to the environment and save some money.

In today’s world of complex electronics and disposable products, being environmentally friendly can seem a challenging and expensive task. Yet there are many things that an ordinary college student can do to save the environment, and save some money at the same time.

There are always the simple things you can do to save some green (both the natural and the monetary kind). First, when you go to bed at night, turn off your computer; it doesn’t need to be on while you sleep, and if someone has an important message to leave you, they can always send an email. Another simple computer tip is to set your monitor to go into power-save when you haven’t used your computer in a while, this saves both energy and makes your screen last longer. Lastly, you probably didn’t grow up in a barn, so turn off your lights when you leave a room. Right now you may be thinking to yourself, why does this matter, the college pays my electric bill. You’re right, they do pay the bill, and you also need to remember that you pay their bills every year. Why not save a little bit of power, and maybe keep that tuition increase a bit smaller next year?

Want to be a bit healthier and save some cash, do something that you do every day, walk. At well over $2 a gallon, gasoline is expensive and pollutes. Walking, or riding a bike, is a good way to save some money and the environment. Have to head to the quads? Walk there, or ride your bike, there is no reason to drive. Even a walking trip from campus to the grocery store is entirely plausible on a nice day. Those short trips are also the most damaging to your vehicle, reducing performance and driving up repair bills. Also, watch your speed while driving home for the weekend or on a break. For every 5 mph over 60 mph you drive, it can waste up to 10 cents per gallon.

At the end of the semester or the year, don’t throw out all those things in your room that you don’t want to take home. As the adage goes, one person’s trash is another person’s treasure. Have an old shelf you don’t need any more, or perhaps a slightly used futon? Put it in the campus classifieds, or if its small, put it on eBay. Selling things on eBay is easier than you think, and if you sell it for a few dollars, it’s better than making nothing. At the same time, you are reducing the amount of trash that is hauled off to landfills. If you can’t sell it, try to recycle it, or give it away for free to someone who can use it. When looking for new furniture, or almost anything, check out sites like Freecycle (www.freecycle.org) or Craigslist (www.craigslist.org), for bargains in the local area. Items can cost significantly less, and you prevent them from going to a landfill.

If you buy bottled water, consider purchasing a water filter pitcher, or one that mounts on a sink. Most bottled water is just filtered tap water, and is expensive and wasteful. The energy used to pump, transport, disinfect, and bottle water is more than you may think. Unless the bottle is recycled, it also adds to landfill space. Using a water filter can pay for itself quicker than you may think, at over a dollar per bottle, the cost of the most plentiful resource on earth adds up fast.

Here are some other items to consider. Buy and sell used textbooks; they are cheaper and avoid wasting paper. Avoid printing unnecessary pages, only print what you need. Don’t take more food than you are going to eat in the Marketplace or at a buffet, you can always go back for more. Reuse what you can, recycle what you cannot.

Going green can be done without any really hard work, just a few simple changes in your everyday tasks. Remember that every little bit helps, and that being friendly to the environment can save you some green in the bank as well.

Portions of this article appeared in the September 20th edition of the Etownian.