Is Your Child A Victim of Identity Theft?

Child identity theft is a fast growing type of identity theft. According to the Federal Trade Commission (FTC), approximately 5% of identity theft cases involve children (about 500,000 per year).  However, it is difficult to obtain exact numbers because child identity theft can go undetected for several years.

Children are highly attractive targets for identity thieves because i) children have spotless credit histories and ii) children cannot apply for credit cards or loans until they are 18.  These factors give the identity thief plenty of time to use and abuse the child's credit.  Only after the child becomes an adult and is denied a credit card or loan is when he/she learns of the identity theft that occurred years ago.

Typically the identity thief is a family member or relative who has financial problems and who generally has access to the child's personal information.

TRUE STORY: Sara, a 10-year-old in the 4th grade, has an extensive credit history and has been in debt since she was 5 years old. Sara's Social Security number was stolen several years ago by her mother and used to open 16 credit cards and obtain a $41,000 loan. Although Sara's mother served time in jail for her crimes, Sara's credit is still tarnished and may take years to repair.

You should protect your child's identity in the same way that you protect your identity.

1. Don't give out your child's personal information unless it is absolutely necessary (e.g., to receive medical services). Keep in mind that most organizations that ask for your child's Social Security Number (SSN) do not really need it.


2. Don't carry your child's SSN card with you.


3. Monitor all three of your child's credit reports at least once per year. See my post How To Get A Free Copy of Your Credit Report. When you order your credit report, you should also order one for each of your children. 


4. If you discover fraudulent activity, place a fraud alert on the credit report, contact the police and file a report, fill out an identity theft affidavit, and contact the credit bureaus and the creditors and notify them of the fraud. Keep detailed records of all correspondence between yourself and anyone you contact. It is also a good idea to freeze your child's credit. He/She will not need to apply for credit before the age of 18 anyway.


5. Shred unimportant paperwork from doctors and others that list your child's SSN or date of birth.


6. Contact companies that send credit card and loan offers to your children, so they know that they are sending items to minor children.

Being cautious and alert now will save your child from many headaches down the road.

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