Stay Connected!


myMoneyPower RSS Feed myMoneyPower Facebook myMoneyPower Twitter
myMoneyTree
Where Money Really Does Grow on Trees
Scott Reynolds
Scott Reynolds
Apr 28, 2010

kid_social

Child identity theft is a growing crime. In 2003 the Federal Trade Commission, the government agency that accepts identity theft complaints, received ove r 6,000 complaints of identity theft of children under the age of 18. In 2005 it was over 11,000. You can see that each year the trend is growing. One of the problems with child identity theft is that it often goes undiscovered for years. The first thing you can do to protect your child begins with registering your child for Social Security. Ask yourself if it is truly necessary to give out your childs Social Security Number. Sure, you will need it for tax purposes and you may need it for financial institutions, but otherwise there should be very few times you will need to give it out. Also look for clues that your childs information may have been leaked. If all of a sudden you begin receiving unsolicited credit card offers for your child and they’re 6, that is an indication that some investigation should begin.

There are several companies that will assist you with restoring identity and credit that has been stolen. There are even some, that for a few more dollars per month, will monitor credit reports for your name and report any activity. Most of these services range from $7-$15 per month. Some have an adult rate and a seperate child rate, while others cover the whole family for one cost.

Pass it on with a click!

  • Twitter
  • Facebook
  • Digg
  • Reddit
  • del.icio.us
  • StumbleUpon

Posted Under: Risk Management


2 Responses to “Keep Your Kids Safe”

  1. Interesting post! I couldn’t begin to imagine what kind of person would stoop to that level but crooks aren’t exactly ethical people. It’s kind of ironic because when I was 13 and filing my first tax return for my paper route the government had my Social Security number linked to a 36 year old man living in Ottawa, Canada. Perhaps I was lucky that my parents caught it before I had 20 credit cards as a kid.

    It is a very scary reality!

    • Did he steal your identity or was it an issue of SSNs not being truly unique? Either way, that is pretty crazy. Good thing your parents caught it.

      #1.1

Leave a Reply