child identity theft
When a child is born, one parent can apply for a Social Security number for that child. Identity thieves are very keen on a child’s Social Security number. The child’s identity thief could be a family member (uncle, aunt, cousin), another adult who has access and is allowed in your home, someone who has stolen your mail or hacked into your computer. We think we know who the child identity thief might be, but we don’t.
Most parents ask for the baby’s SSN so they can claim the child on their taxes and must submit the SSN on official tax forms, so now anyone with the means to see that tax form can copy the child information. The identity of the child can be stolen in the hospital or in the office of a health professional. What about the dishonest legal professional who sells the child’s identity to an unscrupulous client? No matter what profession a person is in, they have the potential to be dishonest.
The thief could be anyone. Usually, he won’t check his child’s credit score (why would he), so he won’t know his identity has been stolen. Now, the identity thief has more than a decade to create a new identity for himself and obtain credit cards, loans, cell phones, utilities, bank accounts, driver’s license, etc. etc Crime isn’t discovered until your child is older and applies for their first student loan, apartment, credit card, or job! By now the road has turned icy cold and your son’s credit history has been reduced to pieces. In all likelihood, all the accounts opened in his name have been purchased by a collection agency.
It would be very difficult for your child to repair what happened due to the difficulty of tracing the original loan applications and transaction records if the original account has passed through multiple hands due to business mergers and purchases. Our children need to be taught about the dangers of providing their personal information and their personal information when connected to the network. Kids today have a burning desire to log on to the many chat rooms and social networking sites, and an identity thief may ask for personal information on a login screen.
Identity theft prevention company, LifeLock, has already launched the first of its kind Children’s Identity Theft Prevention Program. Now, LifeLock subscribers can add the Kids Identity Theft Program to their existing full suite of identity theft prevention services. The Children’s Theft Prevention Program is for children 16 years of age or younger. A recent study in the state of Utah revealed that 1,800 Social Security numbers assigned to children 12 years of age and younger had been forged, according to the state’s Identity Theft Task Force.
The Federal Trade Commission (FTC) has reported that between 5% and 7% of identity theft victims are under the age of 18 and if college-age people are included, it is almost 20%.
“Due to the extreme increase in identity theft among minors, we have taken the initiative to develop a first-of-its-kind program to protect children,” said Todd Davis, CEO of LifeLock. Tracking credit bureau activity and monitoring deposit accounts are considered standard when it comes to identity theft. But Davis insists that working with the Social Security Administration and identifying the labor activity of unusually young children is a red flag that warrants further investigation. “LifeLock is in the process of working with local and federal agencies as well as leaders in Washington DC to lead efforts to protect our children from identity theft. This is a critical aspect of our overall service,” Davis continued. “As the Utah investigation has shown, unfortunately, there are still numerous victims to be discovered.” LifeLock subscribers can pay $10 per year for the Children’s Identity Theft Prevention Program through which LifeLock will regularly audit the credit bureau, monitor bank deposit accounts, and track any unusual “work activity” with the Administration of the Social Security on behalf of LifeLock youth clients. All minors enrolled in the program will also benefit from LifeLock’s standard $1 million guarantee.