Identity theft victims are now children as thieves get more clever

The topic of identity theft is a popular one these days. A stolen identity is painful in two ways for the consumer - the thief can run up tens of thousands of dollars worth of debt in the victim’s name, and the process of clearing up the mess and credit report can take years. All it takes to have your identity stolen is to have your Social Security number fall into the wrong hands, although a credit card number or driver’s license number can also be used. With a victim’s Social Security number, a thief can obtain a fake driver’s license, credit cards, and loans, all in the name of the victim. As the problem of identity theft has become well publicized, more consumers are taking care to avoid disclosing their personal identification inadvertently. This has forced the criminals to look for other sources of identities to steal, and a new one has recently been popular - the identities of children.

The Social Security system was passed into law by Congress in the mid-1930’s in order to overcome the problem of destitute adults of retirement age who had lost all of their savings during the Depression. The system was set up so that workers could fund the retirements of everyone by contributing payroll taxes. Each worker was given a Social Security number in order to allow the government to keep track of individual earnings and payments. That number, despite the best intentions of Congress, has become a de facto national identification number, and it is nearly impossible to engage in any financial transaction without providing it. Criminals have discovered the usefulness of these numbers and they know that once you have someone’s Social Security number in hand, you can do all manner of things, including obtaining a loan in the victim’s name.

As more consumers guard their information more carefully than ever before, thieves are increasingly turning to children to steal Social Security numbers. Under a 1989 law, the government now requires newborn infants to register for Social Security. Most children will have little use for their number until their late teens, when they may need the number to obtain a job or driver’s license. In the meantime, the numbers go unused and unnoticed. A thief who obtains the Social Security number of a child knows that they may have a decade of use before the victim even notices.

How can you protect your child from identity theft? Guard their personal information as you would your own. If you are asked for the Social Security number of your child by any agency, such as a hospital, ask if providing it is actually necessary. Many institutions ask as a matter of habit, but don’t actually need the number. If it isn’t necessary, don’t provide it. Check to see if your child has a credit report available you can obtain a copy for free at a special free credit report Website.. If your child has had no financial transactions, then they shouldn’t have a credit report. If he or she does have one, then you may have a problem. A child’s financial information is as valuable to a thief as that of an adult. Guard it carefully.

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