The New Crime Targeting Your Children
Identity theft is already a major problem, but thieves have found a way to target the people you care about most: your children.
Because children rarely use their Social Security numbers until they are older, criminals find it easy to exploit them. Parents may not notice the damage until it’s too late.
How the Crime Works
Thieves obtain a child’s Social Security number through online businesses. They sell the number under a different name.
The buyer then uses it to create a fake credit profile and accumulate debt. This not only harms your child’s future, but it also creates risks for the nation’s credit system.
“If people are obtaining enough credit by fraud, we’re back to another financial collapse,” warns Linda Marshall, Assistant U.S. Attorney of Kansas City.
Why Detection Is Difficult
Thieves often disguise Social Security numbers as CPNs, or credit protection numbers. This allows the stolen number to function like a regular credit profile.
Millions of Americans may already be affected without realizing it. As of April, 43.4 million people, or 25.5% of Americans, have a credit score below 599. Low scores can make it hard to get loans and increase financial risk.
How Parents Can Protect Their Children
Unfortunately, there are no extra preventive measures for children’s Social Security numbers.
Parents can, however, contact the credit bureaus to check if a credit file has been created using their child’s number. Early detection is key to minimizing damage.
Get Help if Your Child Is a Victim
If your child becomes a victim of identity theft, certified counselors at Debthelper.com can help. Call 1-800-920-2262 to speak with an expert today.
📞 Call 1-800-920-2262 today for free, confidential assistance.
Source:
The Palm Beach Post
