Financial Fraud on the UT Campus

Financial Fraud on the UT Campus

Students at the University of Texas are advised to make an individual effort to protect their financial security. The University of Texas Police Department and the Information Security Office provide resources to aid in information security, but cannot guarantee the safety of personal and financial information when using the UT database.

Technological dependence and comprehension have increased simultaneously over the past decade, but accompanied by these developments is the issue of information security, said UTPD sergeant Charles Bonnet. This means the more adept society becomes at using technology, the easier it is for criminals to access information without your permission. The unauthorized access of personal information threatens financial security. More importantly, when valuable information such as a social security number is compromised, it jeopardizes the credibility of an individual’s identity.

“This fraudulent type of activity has increased worldwide for a number of reasons, including the increase in online banking, online shopping, and other ways that someone’s personal and financial information is out in cyberspace where criminals can get to it,” Bonnet said.

Financial fraud complicates this issue because it threatens both the immediate and future security of an individual. In addition, it’s more difficult to trace the source of the theft and apprehend the criminals.

“This fraudulent type of activity has increased worldwide for a number of reasons, including the increase in online banking, online shopping, and other ways that someone’s personal and financial information is out in cyberspace where criminals can get to it…Students need to be aware that information put out on the Internet is accessible to criminals, and even mundane facts can provide valuable information to someone looking to do harm,” Bonnet said.

There have been several incidents involving students and faculty members reporting their bank account or debit/credit card information as stolen according to the recent UTPD daily crime reports. UTPD was unable to comment on the results of these incidents because the cases are still open. However, they were also unable to address whether or not financial fraud crimes have increased or decreased on the UT campus in recent years.

“UTPD conducts a thorough investigation, sometimes with the cooperation of other state, federal, or local police departments with the tools and expertise.  Additionally, we rely on the UT Information Security Office, which provides us with great assistance after an incident occurs.  That is also the entity that maintains the digital security of campus,” said Bonnet.

Therefore, financial fraud crimes require the assistance of trained specialists whose technological expertise exceeds that of UTPD. The director of the Information Security Office was unable to comment on the recent fraud crimes, but recommended students review their Security Awareness webpage to learn how to increase their information security.

The site provides common guidelines for information protection, but does not offer any alternative measures that increase financial security beyond these basic measures. Essentially, the tips provided advise students to be vigilant and question the security of the site before providing information or purchasing products online. But, can students do any thing else to guarantee their money and identity will be safe? Or is the ambiguity of cyber-security a result of a larger inability to monitor and regulate the exchange of information via new technologies?

Former UT student, Will Generous, was a victim of credit card fraud when he purchased football tickets at the UT Box Office. His friend’s credit card information was the first to be compromised when his credit card company reported attempted purchases in California. About a week after his friend received a notification from his bank, Will also received an alert from his bank describing the same patterns of fraudulent activity.

Fortunately, the credit card company detected the issue before any money was stolen, but nonetheless, the private information of two individuals was illegally accessed through the UT database.

“After this incident, I was astonished at UT's lack of internet security with their box office…Regardless, it proved to me that my personal and financial information with the University is not as safe as I was previously led to believe,” Generous said.

While financial fraud crimes may be a product of developing technology, victims like Generous question what else the University of Texas could do to protect financial security and provide a peace of mind for students. The consequences of his particular fraud were minor and stemmed primarily from frustration, but had the circumstances been different, the damage of this fraud could have been much more sever, said Generous.

“Fortunately the credit card that was compromised was one meant for daily expenses and had a relatively low credit limit. However, had it been my card with a higher credit limit, things might have turned out differently,” Generous said.