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Consumer Watchdog: Wells Fargo sham shows value of routinely examining your bank statements

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<p>For college students, there&#8217;s more to worry about while on campus than keeping up those grades.</p><p>Identity thieves and scam artists sometimes try to exploit the inexperience or trusting natures of young people to separate them from their personal data, their money, or both. Consider this a start-of-the-school-year crash course on some of the ways you could get ripped off.</p><p>&#8226; Grant scams. The con artists reach out by social media or telephone, telling potential victims that they are eligible for a sizable federal grant. To receive the sum, the student is advised that he or she must first pay taxes or fees.</p><p>This setup is from Fraud 101. Readers of a certain age will recognize it as a variation on this old lie: &#8220;Congratulations, you&#8217;ve just won big! To claim your prize, send us a $100 processing fee.&#8221;</p><p>Known as &#8220;advance-fee frauds,&#8221; these confidence tricks come in many variations: an online ad offering a sweet deal on an apartment rental, or perhaps a caller&#8217;s promise of student loan relief. Alarm bells should go off, however, when you are told to wire money to secure the rental or provide upfront cash before your debts can be consolidated. Don&#8217;t send any money; you&#8217;re dealing with a shyster.</p><p>&#8226; Skimmers. These nefarious devices, which crooks attach to ATM machines or payment modules at gas stations and stores, can snag your debit and credit card information. Be on the lookout for tampering of the card slot, and avoid any ATM or card-swiping mechanism that looks suspicious. (Perhaps of interest to online readers: PCmag.com in April published an article titled &#8220;<a href="http://www.pcmag.com/article2/0,2817,2469560,00.asp" target="_blank">How to spot and avoid credit card skimmers</a>.&#8221;)</p><p>Likewise, don&#8217;t fall victim to the old-fashioned modes of compromising your financial and personal information. Keep your credit cards and driver&#8217;s license in a safe spot; don&#8217;t swap Social Security numbers, PIN numbers or passwords with dorm mates or others.</p><p>And think twice before sharing laptops, tablets, cellphones and other devices that contain your private information.</p><p>&#8226; Federal student tax hoax. The Internal Revenue Service earlier this year cautioned students about callers demanding payment for a supposed overdue &#8220;federal student tax.&#8221; No such tax exists. And the IRS doesn&#8217;t call regarding taxes due without first mailing you a bill.</p><p>&#8220;Many scammers use threats to intimidate and bully people into paying a tax bill,&#8221; the <a href="https://www.irs.gov/uac/newsroom/irs-warns-of-latest-scam-variation-involving-bogus-federal-student-tax" target="_blank">IRS statement warned</a>. &#8220;They may even threaten to arrest, deport or revoke the driver&#8217;s license of their victim if they don&#8217;t get the money.&#8221;</p><p>If you receive this sort of call, hang up.</p><p>&#8226; Scholarship scams. &#8220;When cruising the net for financial awards, proceed with caution,&#8221; states the National Credit Union Administration&#8217;s online article about &#8220;<a href="http://www.mycreditunion.gov/Pages/pocket-cents-going-to-college-common-college-scams.aspx" target="_blank">common college scams</a>.&#8221; &#8220;A site that asks for personal information should be regarded with suspicion. Many will ask for an e-mail address only to sell that address and pump it full of spam.&#8221;</p><p>&#8226; Part-time job scams. You complete an online application and receive notice that you have been hired. As your initial task, you are instructed to deposit a check provided by your &#8220;employer,&#8221; then send a portion of that money to some other specified place.</p><p>Don&#8217;t do it. The check is likely counterfeit. And that &#8220;employer&#8221; is a swindler with no qualms about giving an unsuspecting college student a quick education in dishonesty.</p><style>
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<div class="metaInfo"><bylineMeta><p>Consumer Watchdog</p><p>Mark Jones</p></bylineMeta></div><div class="metaInfo"><shirttailMeta><p>Mark Jones is the Times Leader&#8217;s opinion page editor. Reach him at 570-991-6122 or mjones@www.timesleader.com.</p></shirttailMeta></div>

Consumer Watchdog: Students, don’t fall for these common college fraud schemes