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When a child is born, aparent may apply for a Social Security number for that child. Achild's Social Security number is very much sought afterby identity thieves. The child identity thief could be a familymember (uncle, aunt cousin), another adult who has access and is allowed inyour home, someone who has stolen your mail or hacked into your computer. We think we know who the child identity thief could be, but wedon't.
Most parents apply for thebaby's SSN so that they can claim the child on their taxes and you mustsubmit the SSN on the official tax forms, so now, anybody who has themeans to see that tax form can copy the child's information. The child'sidentity could be stolen at the hospital or at a health professionals' office. What about the dishonest legal professional who sells the child's identityto an unscrupulous client. It does not matter what profession a person isin, they have the potential to be dishonest.
The thief could beanybody. Typically, your not going to check your child's creditrating (why would you), so your not going to know their identity has beenstolen. Now the identity thief has more than a decade to create anew identity for him and gain credit cards, loans, cell phones, utilities, bankaccounts, drivers license etc. etc. The crime is not discovered untilyour child has grown and applies for her first education loan, apartment,credit card or job! By now, the trail has become ice cold and yourchild's credit record has been cut to ribbons. In all likelihood all ofthe accounts opened in her name have been purchased by a collectionagency.
It would be verydifficult for your child to repair what has happened because of thedifficulty in tracking down the original loan applications and transaction recordsif the original account has been through several hands becauseof companies merging and being bought-up. Our children need to betaught about the dangers of providing their personal information and yourpersonal information when they are logged onto the net. Today's kids havea burning desire to log into the many chat rooms and social networking sitesand they may be asked for personal information on a registration screen or byan identity thief.
The preventative identity theftcompany, LifeLock, has already launched thefirst-of-its-kind Children's ID Theft Prevention Program. Now, LifeLock'ssubscribers can add the children's ID theft program to their existing fullsuite of ID theft preventative services. The children's theft preventionprogram is for minors 16 years and younger. A recent study in the stateof Utah revealed that 1,800 Social Security numbers assigned to children 12years of age and younger had been forged, according to the state's IdentityTheft Task Force.
The Federal Trade Commission(FTC) has advised that between 5% and 7% of identity theft victimsare under the age of 18 and if you include college-aged individuals, it isalmost 20%.
?Due to the extreme increase in ID theft amongminors, we have taken the initiative to develop a first-of-its-kind program toprotect children,? said Todd Davis, CEO of LifeLock. Tracking creditbureau activity and monitoring depository accounts are considered standard whendealing with identity theft. But Davis insists that working with theSocial Security Administration and identifying work activity from unusuallyyoung minors is a red flag that warrants further investigation. ?LifeLockis in the process of working with local and federal agencies, as well asleaders in Washington D.C. to lead the efforts in protecting our children fromidentity theft. This is a critical aspect of our overall service,? continuedDavis. ?As the Utah investigation demonstrated, sadly, there are numerousvictims yet to be discovered.? LifeLock subscribers can pay $10 peryear for the Children's ID Theft Prevention Program through which LifeLock willregularly audit the credit bureau, monitor depository banking accounts, andtrack any unusual ?work activity? with the Social Security Administration onbehalf of LifeLock's youth customers. All minors enrolled in the program willalso benefit by LifeLock's standard $1 million guarantee.
Do you want to learn about Identity TheftPrevention & .Stop Identity Theft with LifeLock. LifeLock can guarantee identity theft neverhappens to you. To see how works
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