Fraud Tip of the Day - November 8
Protect Your Child's Identity
Do you worry about identity theft and the damage it can do to your credit? What about your children? Do you worry that their identities can be stolen, too? If their identity was stolen, how would you know?
Most parents don't take this into consideration which makes children a tempting target for identity thieves.
Most parents do little if anything to safeguard their child's identity and fewer still monitor their credit reports for irregularities. The sad truth is that identity thieves are targeting more children than ever because the crime may not be noticed for months or even years.
To help parents protect their kids from identity theft we present these tips:
- Don't carry your child's Social Security card with you. This may seem silly to even mention but if you have your kid's cards in your purse or wallet you're putting them at risk. If you lose your purse or wallet stolen, your child's Social Security number could fall into the hands of a criminal. If your purse or wallet is stolen, the risk of identity theft is even higher. Keep Social Security cards and other important documents in your home under lock and key.
- Don't give anyone your child's social security number. Think about how often you're asked for your child's Social Security number. Now ask yourself if the people requesting it actually need it. Schools, athletic leagues and others still request children's Social Security numbers, even though they are not necessary. When asked for your child's Social Security number, find out if some other form of identification will suffice. Anyone can steal a child's identity if they have enough information. It could be an elementary school secretary or your child's high school football coach. Most people are honest but it's smart to play it safe by keeping important information to yourself unless absolutely necessary.
- Teach your children to use the internet safely. Make sure your kids know what information is safe to give out and what isn't. Children that don't understand this probably shouldn't be allowed on the internet at all. Even game sites request information and your children will quickly fall into the habit of filling out forms to get instant access to their favorite websites. We suggest you have your children come to you for approval before any personal information is sent over the internet even if it's just their email address.
- Be alert to red flags. If your children begin receiving credit card applications, catalogs and especially billing statements you need to find out why. Your child's identity may not have been stolen but you should look into anything that appears unusual.
- Get free annual credit reports for your child. Everyone, including children, is entitled to one free credit report a year from the major credit reporting agencies. Make sure you take advantage of this every year and check it for suspicious activity. If your child doesn't have a credit report to check then it's a safe bet no one has stolen their identity because there's been no credit activity.
Look into freezing your child's credit until their old enough to begin using it. If your child's identity has been stolen you need to report it immediately and take action to defend them against the theft of their identity. The process to restore their credit will be long and difficult but can't be put off or ignored.
