How to Protect your Child from Identity Theft
You’ve probably done all you can to protect yourself from identity and credit card theft. But did you know that you also need to protect your children?
It’s true! Studies show that up to 7 percent of all reported cases of identity theft are targeted at children. However, this statistic may be much higher, due to the fact that many families do not find out about the problem until the child becomes of age and applies for credit.
One of the biggest problems lies with social security numbers. Because a child’s social security number is dormant when they are a minor, identity thieves use them to create phony lines of credit and credit card accounts. Many times, they are able to get away with this for years.
With that said, there are a few things that you should do to help protect your child from identity and credit card theft:
- There is typically no reason to give out your child’s social security number. Question anyone (even their doctor) that wants to use their social security number as their identification number. In addition, always remember to destroy any document that contains their social security number.
- Remind your children to never give out any personal information to anyone, either on the phone or online. Identity thieves count on children giving up this information freely, so take the time to teach your child about guarding his or her personal information.
- Don’t check your child’s credit report unless you suspect foul play. This may seem counterproductive, but the fact of the matter is that checking your child’s credit report activates their credit report, which then could enable identity thieves to more easily access to their information.
- Any type of solicitation with your child’s name on it could mean trouble. If you begin receiving credit card offers or calls from collection agencies, immediately run a credit report to check for any suspicious activity.
- Immediately contact the appropriate authorities if you suspect a problem with your child’s credit. Contact the Federal Trade Commission’s identity theft prevention website at www.ftc.gov.
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