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Identity thieves have zeroed in on the most vulnerable. As a new study has shown, child identity theft is increasing because it is easy for thieves to steal data from unsuspecting parents they utilize to commit pilfering that are not found until their long gone. Post resource - Child identity theft victims hurt most often by their loved ones by MoneyBlogNewz.

Identity theft hurtful towards kids

There have been thousands already sufferers of identity theft while thousands more have the risk there still. A Carnegie Mellon University CyLab cybersecurity research center report explained this clearly. The report examined the identity protection scans of 42,232 children conducted in 2009-10 by the Debix AllClear ID Protection Network after parents were notified their children’s IDs may have been compromised. The data that Debix AllClear ID showed there were 10 percent of kids that had Social Security numbers stolen. It totaled 4,311 children. Obviously there is problem when there is a 0.2 percent rate of United States adults that have their identity stolen which is 51 times lower than the child rate according to the Debix AllClear ID 663 attacks out of 347,362 adults. There was a five month old that had her identity stolen. There were 42 open accounts in Arizona that a 17 year old girl found out she had. In all of these credit cards, vehicle loans and mortgages, she owed $725,000 in debt. Her Social Security number was connected to eight suspects. In Kentucky, a 14 year old boy found out there was a foreclosure on his credit. It was from 10 years earlier too.

It is friendly fraud with kids

There has been a lot of child identity theft. The early 1980s was when it started. Back then the Internal Revenue Service directed the Social Security Administration to give all children Social Security numbers. Anyone with access to the Social Security numbers would typically abuse them. Kids easily became sufferers of this. Javelin Strategy and Research reported that there were several “friendly fraud” cases in 2010. That was 30 percent of identity theft cases. In credit checks, age isn’t verified. This makes it easier for a thief to get a charge card, create accounts and even take out loans. One young male in Florida got help after finding out his father had stolen his identity and hurt his credit years before from the Identity Theft Resource Center.

How to deal with child identity theft

According to the Identity Theft Resource Center, every child should be taught out identity theft. They should know sharing information on the Internet isn’t always safe. All personal information, including Social Security numbers and birth certificates, should be kept in a secure place. You may have mail that came in a child’s name. This could possibly be a concern that credit was opened for the child. A credit rating could possibly be taken for the child from all three credit bureaus. Your child is probably okay if there is no credit history. If you have a credit report for the child, file a security alert. Do this at TransUnion, Experian and Equifax. File a police report using the credit reports as evidence. A police report listing the fraudulent accounts obligates the credit reporting agencies to remove them from the credit report within 30 days.

Articles cited

Forbes

blogs.forbes.com/moneybuilder/2011/03/31/protecting-your-child-from-identity-theft/

Atlanta Journal Constitution

ajc.com/news/child-identity-theft-increases-572552.html

Wallet Pop

walletpop.com/2011/04/05/report-as-child-id-theft-grows-rapidly-consider-these-precauti/