Detecting Red Flags
The following are examples of where identity theft might be detected and ways to detect and prevent compromise.
- Action - Verify the identity of the individual opening the account by…
- Requiring certain identifying information such as name, date of birth, academic records, home address or other identification; and,
- Verifying the student's identity at the time of issuance of the student identification card through review of driver's license or other government-issued photo identification.
- Action - Monitor accounts by…
- Verify the identification of students if they request Information;
- Verify the validity of requests to change billing addresses by mail or email, and provide the student a reasonable means of promptly reporting incorrect billing address changes; and,
- Verify changes in banking information given for billing and payment purposes.
Consumer/Credit Report Requests.
- Action - Institution will take the following steps to assist in identifying address discrepancies:
- Require written verification from any applicant that the address provided by the applicant is accurate at the time the request for the credit report is made to the consumer reporting agency; and
- In the event that notice of an address discrepancy is received, verify that the credit report pertains to the applicant for whom the requested report was made and report to the consumer reporting agency an address for the applicant that the Institution has reasonably confirmed is accurate.
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