Seven percent: This is the amount, according to the Federal Trade Commission, of identity theft victims who were 19 or younger in 2009. Seven percent might not seem like much but keep in mind that there were approximately 10 million identity theft victims last year and we are expecting a higher percentage of victims under 19 for 2010. Of these victims, a good number had their identities compromised by a parent.
If you think about it, this makes sense. Parents are the ones who, in most cases, register a child for his or her Social Security number. In the case of a divorce, a parent who does not live with the child may even use his or her information with malicious intentions – perhaps as a way to get revenge on the custodial parent. Sometimes they just see it as a quick way to get out of a financial crisis.
According to an attorney at the Federal Trade Commission, this type of identity theft seems to be on the rise due to the large amount of unemployment. Some individuals, when they ruin their credit, due to a foreclosure or bankruptcy, switch to using their child’s credit so that they will have a clean record and still be able to buy the things they want. Some of the warnings signs that a child’s identity has been stolen include:
*You start getting credit card offers in your child’s name, especially when your child is under the age of 18 and has no current bank account.
*The child’s other parent all of a sudden comes into money for no apparent reason.
*When you receive a call from the other parent, the child’s name comes up on the caller ID box.
If you’re afraid of this happening to your child, you can purchase an identity theft protection plan in his or her name. In a lot of cases, you can simply add your child on to a policy you purchase for yourself. Remember, it doesn’t have to be a parent – or even a relative – who steals your child’s identity. It could also be a complete stranger who uses, for example, your child’s unblemished credit record instead of their horrible one.
Both LifeLock and TrustedID have great child identity protection plans so compare their offers and see which is the best fit for your families protection.