How #Parents Can Protect Their #Children From Infant #Identity Theft

Source: National Cyber Security – Produced By Gregory Evans

An identity thief can wreck credit scores, drain bank accounts, and cause underserved legal troubles. But the victims of identity theft aren’t always adults with established finances.

In fact, according to Robert Chappell Jr, the author of “Child Identity Theft: What Every Parent Needs to Know,” around 1.

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One Comment to How #Parents Can Protect Their #Children From Infant #Identity Theft

  1. Wire_Services says:

    Source: National Cyber Security – Produced By Gregory Evans






    An identity thief can wreck credit scores, drain bank accounts, and cause underserved legal troubles. But the victims of identity theft aren’t always adults with established finances.

    In fact, according to Robert Chappell Jr, the author of “Child Identity Theft: What Every Parent Needs to Know,” around 1.3 million kids are impacted annually by identity theft. Over half of the children that are impacted are under the age of 6.

    Recent research by Terbium Labs, a Dark Web intelligence firm, investigates how this crime works. The most valuable kind of information package is called “fullz,” because it includes all the data an identity thief needs. This includes an infant’s name, social security number, birth date, and mother’s maiden name. These packages sell for a little over $300.

    Thieves can strike at any time. Christina Warren, an employee at a large tech company, discovered she was a victim of identity theft when she was only 12 years old. When the pre-teen started receiving past due notices, her parents had to take steps to stop the fraud.

    Here’s why children who don’t even have a bank account are prime targets for identity thieves.

    Infant Identity Theft Often Goes Undetected

    An infant’s Social Security number is valuable for a longer period of time than an adult’s Social Security number. When an adult’s identity is stolen, the paper trail often exposes the imposter early on. Most adults notice when their bank account balance is lower than expected or there is an erroneous charge on their line of credit.

    When an infant’s identity is stolen, there’s rarely any sign of trouble because the child does not have a bank account or credit accounts to monitor. Many times, these thefts go undetected until the child begins to apply for credit or credit cards under their own name.

    At this point, the unsuspecting infant victim is now a young adult with a large financial burden. Because these stolen identities can be particularly lucrative, they can fetch a fairly high price on illegal Dark Web marketplaces.

    How To Protect Your Infant’s Identity

    The best way to protect yourself from infant identity theft is through early detection.

    Signs of infant identity theft include calls from creditors for your child, receiving pre-approved credit card offers for your child in the mail, or notifications from the IRS regarding your child’s tax return.

    If you suspect that your child’s identity has been stolen, take these steps.

    1. Place A Fraud Alert With Major Credit Agencies

    If the credit reporting agencies are alerted to the fraud, they can detect and block improper uses of personal data.

    2. File A Police Report

    A police report best chance of catching the identity thief. Simply call your local police station and provide any details you can about the crime.

    3. File A Fraud Report With the FTC

    You can inform the federal government about the identity theft by filing a report with the FTC.

    4. Call Businesses Where Your Child’s Information Was Misused

    If your child’s data was used illegally at a business (such as a payday loan company), report the fraud directly to them. The business might even be able to identify the culprit.

    It’s Never Too Early To Think About ID Theft

    It’s heartbreaking to discover that your child became the victim of identity theft before they even took their first steps. But parents who are able to spot the crime early and report it swiftly can protect both their child’s identity and financial future.






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    The post How #Parents Can Protect Their #Children From Infant #Identity Theft appeared first on National Cyber Security Ventures.