Protecting Your Children's Identity

PROTECTING YOUR CHILDREN'S IDENTITY

 

 

Thousands of children are victimized each year by a new, growing form of "high-tech" child identity theft.
We aren't talking about family members swiping kid's personal info, we're talking about criminals buying and selling your child's social security number.
The first time Axton Betz applied for an apartment was shocking: A college student who had never taken out a loan or credit card was thousands of dollars in debt.
"I was devastated," says Axton Betz, a child ID theft victim.
Axton says a thief stole her social security number when she was a kid.
Now the lowest car loan rate she can get is 18% and the lowest credit card interest rate is 29%.
"It's been life changing and life defining," says Betz.
Axton isn't alone. Recent studies show anywhere from 140,000 to 400,000 children a year are I.D. theft victims.
"The kids were being targeted at a rate of 51 times the adults," says Bo Holland, the CEO of All Clear ID, an identity protection company.
Thieves take kid's social security numbers, add fake names, open cell phone or utility accounts and establish new credit histories, borrowing more money.
"They turn 18 and go to start applying for student loans and they find out the credit's bad, because they were a victim of identity theft years before," says Officer Jeremy McClure, a crime prevention officer with the Sioux City Police Department.
Sometimes these numbers are sold online!
All clear ID works with police and has special access to black market web sites where kid's social security numbers are offered for as low as $1.50!
"There are hundreds of these sites unfortunately," says Holland.
Thieves can get those numbers from your computer with viruses programmed to find financial documents like tax returns and medical records.
Some are also from data breaches and thefts at schools and hospitals.
"Parents should be alarmed this is a very significant problem," says Holland.
Stay safe: don't give out your child's social security number easily. Make sure your computer's virus protection is up to date, and monitor your child's number.
"Be proactive, check accounts and credit reports regularly so that way you head off any problems as soon as possible," says Officer McClure.
Axton's still cleaning up the mess of a theft that didn't just steal her social security number, it turned her early adult years into a financial disaster.
"I'm always wondering when is the next collection letter going to arrive when is the next court summons going to arrive?" says Betz.
For more information on how to get restoration protection go here and click Identity Theft Shield from LegalShield,

Protect My Children's ID