Page 58 - Cyber Warnings

How to Protect Your Child From Identity Theft

Even with all the news stories about identity theft, a 2015 Javelin Strategy & Release study
determined that 2014 experienced one new identity theft victim every two seconds. This
equated to a grand total of $16 billion stolen from 12.7 million Americans.

Children are 35% more likely than adults to be victims of identity theft. Yet a report recently
concluded that even with these statistics, 88% of parents are not currently taking preventative
measures to secure their children’s personal information.

Children are primary targets of identity theft because of their clean records. Online and familial
thieves can use a child’s social security number (SSN) to start a credit history that will devastate
the child when she gets older and tries to apply for credit cards, get a job or even get a driver’s
license.

Here is everything you need to know about how to protect your child’s identity along with
information about what to do if you suspect that your child’s identity has been compromised.

How a stolen identity can hurt your child
People who use a child’s SSN for their own gain have specific reasons for doing so, including:

● Obtaining a new driver’s license
● Setting up utility accounts
● Opening credit card accounts
● Opening bank accounts
● Buying prescription medications

All of these can lead to suspicious bills showing up at your house or, worse, a terrible credit
report due to a long history of defaulted bills. Without the right type of protection and action,
your child might not find out that his identity has been stolen until he tries to apply for a driver’s
license, and will have a hard time getting a job, or even getting into college, with a history of bad
credit.

Profile of an identity thief
Because identity theft requires knowledge of a social security number, perpetrators of child
identity theft often have a personal relationship with the victim. In fact, an alarming 27% of
identity theft victims in 2012 knew their perpetrator. People in your life who might take
advantage of your child’s private information include:

● A disgruntled ex-spouse, particularly one who has money problems
● Any close relative who has a suspended driver’s license
● Any close relative with extreme money problems

58 Cyber Warnings E-Magazine – February 2016 Edition
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