Children can also be victims of identity theft, but we are not aware of the risks because no one thinks about credit history issues or financial assets. It's important for parents to realize that their children are also at risk for identity theft.
Your child may even stand a higher risk of identity theft than you. It may not make much sense since the child has no credit card or loans in their name. Yet, that's what thieves want: a clean slate to taint. The major credit bureaus will find your child's name or Social Security Number (SSN) to be pristine, so if a thief can open an account in that name, they've hit a goldmine.
Exposure to identity theft can expose a child to potentially decades and protecting your child's identity is a must. The damage may be difficult to deal with. Even when your child doesn’t need to care about their credit and financial profile for years, you need to ensure that you do not let someone else put that future in a perilous position.
Child identity theft is such a critical issue that David Yost, Ohio Attorney General, is advising parents to make moves to freeze their child’s credit report. He maintains that identity thieves don’t care about a victim’s age.
How to Protect Them From Identity Theft
It’s an uphill task to ensure your child doesn’t end up as a victim of identity theft. Here are a few ways experts recommend you achieve this:
1. Keep an eye on their SSN
The SSN is a critical element of personally identifiable information. It’s a requirement for many form types (hospital, school, and so forth).
It's essential to watch your child's SSN like a hawk. Ask thorough questions of anyone requesting this information. If they cannot tell you in a convincing way how they plan to use this information, how they'll store it securely, and the relevance of it to their work, then you should decline their request.
Never assume the organization requesting the SSN fully appreciates the dangers of child identity theft. Many are grossly unaware, so if you take this personally, you'll be securing other children, their parents, and potentially families from heartbreaking occurrences.
2. Check the mail noting what’s coming in for your child and their source
If your child ever starts getting credit or loan offers in the mail, you can bet on it that someone is using their identity for credit purposes and without consent. Noting these strange mailings can help you spot identity theft and promptly report them.
3. Destroy all documents bearing personal information
For adults and children, permanently destroy documents you no longer require. Don't just toss them in the trash bin. Burn them or shred them; these are ways to ensure that no one has access to an identity they can use with criminal intent.
You can use a home shredder or find a shredding event in your area to do this.
4. Only memorize your child’s SSN
It's always a risk to share your child's Social Security details. This point is important: do not carry your child’s Social Security card around in a wallet. It’s a better strategy to memorize it instead.
The ability to recall the Social Security Number when you need it enables you to secure the card in a safe place. Don't be too trusting of family members either; many identity theft cases begin with family members.
5. Watch your child’s credit reports as you watch their school reports
Hopefully, you review your credit reports regularly. It's essential to do the same with your children. The reason is that even if they seem too young to own a credit card or sign any contract, their identity isn't too young for a criminal to exploit.
Review credit files for your children when you’re doing yours. It won't take too much of your time unless there's a problem.
When you sense things are not all right, your first step is to report the problem to FTC and resolve it quickly.
Teaching Your Child About Identity Theft
Your child is never too young to learn that their identity is essential. Teach them this early, and teach them often. You’ll end up sowing the seeds that’ll help them appreciate and understand the concept deeply.
As you interact with your child, have conversations about identity theft, illustrating why and when they should release their information to a third party.
Children are aware of the internet and use it for many things, including schoolwork and social interaction. They need to know what information and how much they can share each on websites and online communities they belong to.
Child identity theft can be hard to detect. It’s your responsibility as a parent to watch out for red flags. Knowing them can help you curtail any identity theft attempt on your child’s behalf. You’re in the best position to protect your child’s identity and their financial future.
Why does all this matter? Your child is growing and they’ll soon be thinking of college. Scams are not just financial. There are scholarship scams that can set your child back by years. College is an important time for a young person to be vigilant about their identity, and scammers are relentless about this.
Conclusion
Identity theft presents a lifelong threat for adults and children alike. By the same token, protecting your identity is a lifelong duty. Identity theft is a crucial problem, and you shouldn't procrastinate on it. Scammers have a great love for younger victims. Children are unique; their clean financial records make them an excellent target for identity theft, especially with parents trying to juggle many other parts of life.
The best way to deal with child identity theft is to be proactive about preventing it. We’ve shared some of the “how” in this article. As David Yost advises, a credit report freeze enables the security to keep the bad guys out. Best of all, it's free. Save your child's future by protecting their credit history today.
BIO: David Lukić is an information privacy, security and compliance consultant at IDstrong.com. The passion to make cyber security accessible and interesting has led David to share all the knowledge he has.
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