One of the most important things a person can do to combat id fraud is to monitor their credit report as a fraud prevention tool. This simple step, which is free, can alert a user to any transactions that have taken place without their authorization.
But how many of you have thought to check your child’s credit report? Im going to guess none of you have raised your hands. According to a report done by Richard Power at Carnegie Mellons CyLab, identity thieves are targeting children due to the unique value of unused Social Security numbers.
Now lets get into the numbers:
Cases involving identities of minors 5 and under: 303 Cases involving identities of minors from 6 to 10: 826 Cases involving identities of minors from 11 to 14: 1,212 Cases involving identities of minors from 15 to 18: 1,849 Cases involving suspect name associated with a child’s Social Security number: 5,497 Cases in which child’s Social Security number appeared in loan and credit account records: 6,948 Cases in which a child’s Social Security number appeared in utility service records: 1,767 Cases in which a child’s Social Security number appeared in records related to property assessments, deeds, mortgages and foreclosures: 537 Cases in which a child’s Social Security number appeared in drivers license records: 415 Cases in which a child’s Social Security number appeared in vehicle registration records: 235
