As adults become more careful in protecting their identities, thieves are turning their attention to our nation's children, targeting thousands every year!
Could Your Child’s Credit Be Ruined Already?
It’s hard to believe, but the newest craze in identify theft is to “borrow” an infant or small child’s identity in order to rack up thousands of dollars in credit card debt, secure a driver’s license, pass bad checks, and even default on a bank loan – including a mortgage! According to the Federal Trade Commission nearly 400,000 children every year fall victim to this insidious crime.
Why are kids such an attractive target for identity thieves? The main reason, warn the experts, is twofold. First, children have clean credit records and second, since they won’t be applying for credit or jobs or loans for years, thieves can easily use a child’s ID for a long time without the fear of getting caught.
The first clue that your child’s identity has been used illegally usually comes in their teenage years when they apply for a driver's license, a bank account, credit card, student loan or first apartment. Unfortunately by then their credit rating may have already been ruined.
Protecting Children from Identity Theft
So, how can parents protect their children -- and their identity? The first step is to be diligent about safeguarding a child’s Social Security number. Avoid putting it on any paperwork or application unless absolutely necessary. Just because a school or sports organization asks for it, doesn’t necessarily mean a parent needs to give it.
Second, keep a child’s Social Security number a secret from family and friends. It’s sad, but true, the majority of identity thieves actually know the child. All-too-often a parent, grandparent or someone in a position of guardianship is the identity “borrower,” who doesn’t realize the damage they will cause for the child in the future.
In addition to the suggestions above, follow these simple steps to protect your child from becoming the victim of identity theft:
- Shred all papers that contain bank account or Social Security numbers (such as medical forms).
- Do not carry your child’s Social Security card or number in your wallet.
- College students should ask their school not to use their SSN as their college ID number.
- Social Security numbers should never be given out over the phone or on the Internet.
- Prohibit your child from entering contests online, making purchases online, or downloading music if the site asks questions that are too personal. Never let them enter their social security numbers.
- Help your kids be on the alert for scams that ask for personal information on what appears to be a legitimate website but is actually a site set up by criminals to harvest information. Warn children against posting information on social networks, chat rooms and other online public forums. ID thieves look for clues such as a pet’s name, mother's maiden name, and other bits of information that could help them figure out passwords or user names.
If you think your child has been the victim of identity theft, call the Federal Trade Commission’s ID Theft Hotline at 877-438-4338.
