Protecting your child from identity theft
Just as identity theft seems to reach its peak, a troubling trend has emerged: identity thieves are increasingly targeting children. This type of crime often goes unnoticed for years since young children typically do not use their Social Security numbers until much later.
A child’s Social Security number can be exploited by identity thieves to fraudulently apply for government benefits, open financial accounts, take out loans or utilities, and even rent properties. Many victims remain unaware until their teenage years or early adulthood, when they discover compromised credit ratings or encounter difficulties obtaining student loans, employment, or housing.
Recognizing the signs is crucial:
– Rejection of government benefits due to payments being directed to another account using your child’s Social Security number.
– Receipt of IRS notices indicating unpaid taxes under your child’s name or misuse of their Social Security number on another tax return.
– Receiving bills or collection calls for goods or services not purchased.
Precautionary measures are essential:
– Review how schools and other institutions collect, use, store, and dispose of your child’s personal information. Legal protections exist to safeguard this data.
– Request that organizations handling your child’s information implement robust safeguards against identity theft.
At age 16, it’s advisable to check if your child has a credit report. Identifying and correcting any fraudulent activities before they apply for jobs, loans, or housing can prevent future complications. For more information, visit https://www.consumer.ftc.gov/articles/0040-child-identity-theft