400,000 Children Are Victims Of Identity Theft Every Year


Incredible. Click here to read the entire post by Larry Magid. According to the article, here’s why identity thieves like to target our children:

Youth are targets because, unlike many adults, they have clean credit records. Because kids aren’t applying for credit or jobs or renting an apartment until at least their mid-teens, chances are no one is checking their credit reports, so thieves can get away with exploiting kids’ IDs for years. Eventually, older teens will run into a problem when applying for a driver’s license, a bank account, credit card, student loan, or that first apartment.

Even scarier:

The person stealing a child’s identity could be a stranger or someone they know. It could even be the child’s own parent, according to Ms. Foley. “About 2/3 of the time, it is someone in a parental position or in a guardianship.”

Children of divorced or divided families are especially at risk. “We often see with split families that one family member suspects there’s something strange – the child is at the other parent’s home and calls to say goodnight, they see on the caller ID that it’s their child calling but the reality is that the account is in the child’s name.” Some parents, says Ms. Foley, “talk themselves into believing they’re not hurting their child,” and, in some cases, “say they’re going to help their child by giving them a good credit history, but the reality is if they didn’t pay their own bills, they’re not going to pay their child’s bills.”

For more information on ID theft and the good work the Foleys are doing, please visit their website.
For further posts on this subject, click here and here.

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