Identity theft: How to protect your kids
Identity theft that targets children is rising. Here are five steps to protect your family.
Identity theft has grown into a multibillion-dollar problem. And it’s not only adults who are targeted.
At least 7 percent of the reported cases of identity theft target children. The number could actually be much higher, since many families don’t discover theft until a child applies for credit.
And the problem is likely to get worse before it gets better, the Associated Press reports, as identity thieves steal children's dormant Social Security numbers and use them to create phony lines of credit and rack up debt, sometimes for years.
The scam, which has popped up only in the last year, is difficult to guard against, says Linda Foley, cofounder of the Identity Theft Resource Center (ITRC), an organization that offers counseling and resources to identity theft victims. The ITRC has seen a notable jump in the number of children identity-theft cases in the last year, reaching about 9 percent of its caseload this month.
“There’s no way to protect your child completely,” says Ms. Foley. That’s partly because these thieves are likely using sophisticated programs that mine for dormant numbers through school or doctor’s offices databases, which often require that children’s Social Security numbers be provided. And partly because tactics for selling the numbers are constantly evolving, making this kind of theft difficult to track.
Since credit issuers do not keep track of the age of Social Security number holders, they cannot alert families when a child's number is being used. That's something Foley's organization has been trying to change since 2005, and a protection she considers vital for preventing child identity theft on a large scale.
There is some advice that parents can follow, though, to reduce the risk of identity theft: