Child ID Theft – can be years before discovered!

id theftSchool is about to start soon! “Little is known about the true scope of child identity theft. Child advocates, regulators, financial services and other professionals agree it is a particularly damaging crime that can go undetected for years (my emphasis added), only to be discovered when the victim applies for a student loan or credit card.” … this according to Identity Theft Assistance Center’s 2012 Child Identity Fraud Report.

School’s may unwittingly put child information at risk, either through data breaches or information sharing. Or, your child may unwittingly fall victim (just like you can) through ill advised use of the internet.

The Federal Trade Commission has a great website that can walk you through each phase … and hopefully the only phase you need is the check-it phase.

You can monitor your child’s credit history through reports from credit bureaus just like you monitor your own. Here’s how you can do that because they are minors.

Such is the world we now live in. Your child doesn’t know – but you do – so it is up to you to protect their identity and information just like you would protect your own. It will be important for their financial future.

About Larry Frank, Sr.

Larry R Frank Sr., MBA, CFP®, is an experienced financial advisor and a published author on Retirement Planning Research. Have a financial question? Click Here to Ask Larry

One Response to Child ID Theft – can be years before discovered!

  1. Larry Frank, Sr. August 14, 2014 at 4:51 pm #

    Here are 12 steps to protect your child’s … and your … ID:

    http://adviceiq.com/articles/tom-orecchio-12-ways-thwart-id-theft

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